Daily TA & Trade Ideas – 9th Mar 2021
Dollar index could turn lower today. http://youtu.be/3wn7CE0rMQk?hd=1
AUDUSD bottomed exactly at support at 7620/10. There is a good chance of a recovery in to the end of the week now.
NZDUSD holding support at the January low at 7105/7095. A recovery now looks likely today.
Outlook is more positive for today for both pairs.
USDJPY hits the all important resistance at 109.00/10.
EURJPY sideways for 4 days, still holding support at 128.90/80. Same levels apply for today.
CADJPY we wrote: break above 8565 targets 8590/99 then strong resistance at 8615/25 for profit taking on longs.
EURUSD we wrote: outlook remains negative. A break below 1.1880 test the best support for today at 1.1835/25 as we become oversold.
WE BOTTOMED EXACTLY HERE. A BOUNCE FROM HERE IS EXPECTED TODAY.
USDCAD trades sideways. Holding below 1.2700 keeps the outlook negative. Bulls have missed their chance to take control. We remain in a longer term bear trend.
Gold Spot bottomed exactly at our buying opportunity at 1685/80 – outlook turns positive. This could be the low for the 7 month bear trend for Gold. I am expecting significant gains in the weeks ahead.
Silver Spot sideways holding strong resistance at 2540/50 perfectly.
WTI Crude APRIL Future shot higher to beat the 500 week moving average at 6630/50 but we collapsed spectacularly from 6798 to close well below 6630/50 & we are holding below here this morning.
I would take this as a sell signal.
Dax 30 March finally moved! We beat the February/March high at 14185/195 for a buy signal.
Emini S&P March certainly remains volatile. We have started to see daily moves of 100 -120 points per day but we are going nowhere.
Nasdaq March hit our selling opportunity at at 13600/650, with stops above 13700 but we over ran to 13715. I hope you managed to hold the short for the slide to 12290.
|AUDUSD||A recovery is expected. Outlook positive.|
|NZDUSD||A recovery is more likely.|
|USDJPY||important resistance at 109.00/10, likely to consolidate & trade sideways.|
|CADJPY||sell 8620/30 with stops above 8665.|
|USDJPY||buying opportunity at 107.85/75 with stops below 107.60.|
|EURUSD||best support for today at 1.1835/25 as we become oversold.|
|EURUSD||Try longs at 1.1835/25 with stops below 1.1790.|
|USDCAD||Sell 1.2690/1.2710 with stops above 1.2750.|
|GBPUSD||Outlook turn positive. Buy a break above 1.3890|
|GBPUSD||Buy at 1.3790/70 with stops below 1.3730.|
|Gold||Buy at 1685/80, with stops below 1675.|
|Dax March||Buy at 14200/180 with stops below 14100.|
|WTI Crude||500 week moving average & also the 2019 high at 6630/60.|
|Emini S&P||Strong resistance at 3840/50 & again at 3880/85|
|Emini S&P||buying opportunity at 3685/75 with stops below 3665.|
|Nasdaq March||buy at 12200/160 with stops below 12100|
|Nasdaq March||Sell at 12850/900 stops above 12950.|