Daily TA & Trade Ideas – 18th Feb 2021
EURJPY we are long at our buying opportunity at 127.60/40 with stops below 127.20.
CADJPY we are long at our buying opportunity at 8315/05 with stops below 8290.
EURUSD unexpectedly gave up all of last week’s gains. Clearly we are trading sideways in a directionless market. Up one day & down the next. It is a scalpers market only. We cannot run positions for more than a day as we risk the market reversing.
Longs at 1.2100/1.2090 stopped below 1.2080 for a sell signal. If you managed to reverse in to short there was a potential 50 pip profit as we hit targets of 1.2060/50 & 1.2035/30.
USDCAD we are short at strong resistance again at 1.2740/50 with 60 pips profit on the slide to 1.2682 so far.
GBPUSD longs at our buying opportunity at 1.3865/55 unfortunately stopped below 1.3840.
EURGBP topped exactly at our selling opportunity at 8740/50. Shorts offered up to 45 pips profit.
Gold Spot broke 1785/84 for a sell signal targeting 1775/73 & 1765/64…however we held 4 points above here.
Silver Spot longs at best support at 2685/75 work yesterday again (we have done so well buying this level for 2 weeks). Another easy 60 pip profit as we topped exactly at the first target of 2740/50.WTI Crude March Future bounced to targets of 6055/70, 6110/20, 6145/55 & 6185/95 before we topped at 6226.
Dax 30 March bottomed exactly at our buying opportunity at 13880/850. Obviously this is key support again today.
Emini S&P March dipped a little to 3896, above our buying opportunity at 3890/80. We could establish a sideways consolidation trend to ease overbought conditions but there is no sell signal.
Nasdaq March longs at our buying opportunity at 13530/500 worked perfectly. We bottomed exactly here & shot higher to just 7 ticks from the first target of 13730/770.
Emini S&P minor resistance at 3920/23 but above here targets 3935/40 (we topped exactly here yesterday) & 3958/60. Despite severely overbought conditions we can continue higher in the bull trend for 3971/74, perhaps as far as 3990/95.
No sell signal so shorts are too risky. Downside is expected to be limited with our buying opportunity at 3890/80 & stop below 3875. A break lower meets a buying opportunity at 3850/40 with stops below 3830.
Nasdaq longs at 13530/500 offered a good profit on the bounce back to 13730/770 & above here in the bull trend we look for 13820/830 & 13880/900. A break higher meets the big 14000 number. On further gains look for 14150/200.
Bulls obviously remain in full control so downside is expected to be limited without a sell signal. A buying opportunity at 13530/500 with stops below 13450. A break lower however meets the next buying opportunity at 13280/240 with stops below 13190
|AUDUSD||Establishes a sideways trend – scalp the levels on the report.|
|NZDUSD||Establishes a sideways trend – scalp the levels on the report.|
|EURJPY||buy at 127.50/40 with stops below 127.20|
|EURJPY||buy at 126.70/60 with stops below 126.40.|
|CADJPY||Buy at 8315/05 with stops below 8290.|
|EURUSD||First resistance at 1.2090/1.2100. Shorts need stops above 1.2110.|
|GBPUSD||buy 1.3810/00 with stops below 1.3775.|
|EURGBP||Sell at 8740/50 with stops above 8765.|
|AUDCAD||buy 9810/00 with stops below 9790. (Hold longs for a swing trade).|
|Dax March||buy at 13880/850 with stops below 13800.|
|EuroStoxx March||buy at 3680/70 with stops below 3660.|
|FTSE March||Buy 6580/70 with stops below 6555|
|Emini S&P||buy at 3890/80 & stop below 3875.|
|Emini S&P||buy at 3850/40 with stops below 3830.|
|Nasdaq March||buy at 13530/500 with stops below 13450.|
|Nasdaq March||buy at 13280/240 with stops below 13190|
|NZDCAD||Buy at 9080/70 with stops below 9040|
|AUDNZD||Sell at 1.0790/1.0810 with stops above 1.0820.|