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:
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.|
|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|