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.