Daily TA & Trade Ideas – 24th Feb 2021
GBPCAD hits important longer term trend line resistance in severely overbought conditions on the weekly chart.
GBPUSD hits important 100 month moving average resistance at 1.4140/50 (although we overran to 1.4235 this morning).
WTI Crude hits 100 month moving average resistance & this MA has had a significant effect in the past.
USDZAR tests strong Fibonacci Retracement & longer term moving average support at 14.55/45. (I thought this level had broken last week – that was wrong).
USDCAD tests support on the monthly chart
AUDUSD tests 100 & 500 monthly moving average resistance.
AUDUSD daily chart shows 2 important trend lines offering strong resistance today
Day Trading Ideas: AUDUSD | Meeting very strong resistance at 7940/80. Stop above 8000 |
| AUDUSD | buy at 7800/7790 with stops below 7775. |
| NZDUSD | OUTLOOK POSITIVE – buy at 7325/15 with stops below 7295. |
| GBPUSD | severely overbought |
| CADJPY | Buy at 8330/20 with stops below 8300 |
| EURGBP | Sell at 8630/40. Shorts need stops above 8655. |
| Gold | sell at 1815/18 today with stops above 1821 |
| Gold | sell at 1831/35 with stops above 1839 |
| Gold | buy in the 1770/60 area with stops below 1750. |
| WTI Crude | buy at 6035/25 with stops below 6000 |
| WTI Crude | buy at 5885/65 with stops below 5820 |
| AUDCAD | buy 9930/20 with stops below 9905 |
| AUDCAD | buy 9890/80 with stops below 9865. |
| USDZAR | buy at 14.55/45 with stops below 14.30. |
| Dax March | sell at 13850/900 with stops above 13970 |
| Emini S&P | sell at 3880/85 with stops above 3895 |
| Emini Nasdaq | Outlook negative as long as we hold below 13500. |
| Emini Nasdaq | resistance at 13250/300 but best selling opportunity at 13400/450 |
