Daily TA & Trade Ideas – Week Starting July 19th 2021
Gold Spot broke first support at 1825/23 to bottom exactly at strong support at 1813/10 but there was no bounce from here.
The longer term trend is sideways & we remain unable to sustain a move in 1 direction for more than a couple of days.
Silver Spot could not break above first resistance at 2625/30 & collapsed to important support at 2580/2570.
WTI Crude August develops a sideways consolidation pattern as initially break support at 7100/00 before a bounce to minor resistance 7210/20. We topped exactly here.
AUDUSD closes on strong support at 7420/10. Longs need stops below 7395. A break lower is a sell signal.
NZDUSD held inside Wednesday’s range on Thursday & we held within Thursday’s range on Friday. Therefore same levels apply for today.
AUDJPY shorts at first resistance at 8190/8210 worked perfectly on the slide towards best support at 8120/00. The pair remains in a bear trend so outlook is negative for the start of this week.
USDJPY holding below 110.10/00 is negative for this week.
EURJPY shorts at 131.10/20 worked perfectly as we target 130.20/10 & strong support at 129.60/40 for an easy 150 pip profit.
CADJPY held 8715/05 & then 8775/65 on the bounce. Outlook is negative so further losses are expected.
EURUSD inside day holding just above support again at 1.1780/70 & just below first resistance at 1.1835/45. Outlook is negative for the start of this week.
USDCAD longs at 1.2460/40 worked again on the bounce to the targets of 1.2500/10, 1.2580/90 & strong resistance at 1.2620/30. We topped exactly here.
GBPCAD hit the target of 1.7420/30 & topped exactly here. The pair then bottomed exactly at first support at 1.7350/30.
| Gold Spot longer term trend is sideways |
| Gold break below 180 is a sell signal targeting 1804/02 & support at 1794/92. |
| Silver outlook is negative for this week. |
| WTI Crude Sept support at 7040/30. A break below 7010 however targets 6900/6850. |
| WTI Crude first resistance at 7260/80 for profit taking. Shorts need stops above 7320. |
| AUDUSD likely to break support at 7420/10 for a sell signal initially targeting 7350/40 |
| AUDUSD support at 200 week moving average at 7240/30. |
| AUDUSD strong resistance at 7450/60. Shorts need stops above 7480. |
| NZDUSD in a sideways trend for scalping with no clear direction. |
| OUTLOOK REMAINS POSITIVE FOR THE YEN. |
| AUDJPY shorts at resistance at 8190/8210 worked targeting support at 8120/00. |
| AUDJPY remains in a bear trend so outlook is negative for the start of this week. |
| A break below 8085 is a negative signal for this week. |
| AUDJPY 1st resistance again at 8190/8210. |
| EURJPY outlook is negative |
| EURJPY strong support at 129.60/40 – stop below 129.20. |
| EURJPY resistance at 130.40/60. Sell opportunity at 131.10/20, stop above 131.35 |
| CADJPY lower again as predicted to the target of 8715/05. Outlook is negative |
| CADJPY first resistance at 8800/10. Shorts need stops above 8830. |
| GBPCAD support at 1.7230/20. A buying opportunity at 1.7170/50. Stop below 1.7130. |
| EURUSD outlook is negative for the start of this week. |
| EURUSD support at 1.1780/70. A break lower targets 1.1740/30 & 1.1700/1.1680 |
| EURUSD important support at 1.1700/1.1680. Longs need stops below 1.1660. |
| USDCAD longs at 1.2460/40 offered 150 pip pofit. |
| USDCAD strong resistance at 1.2620/30. Shorts here need stops above 1.2645 |
| USDCAD 1st support at 1.2520/00, stops below 1.2490. Strong support at 1.2425/15. |
| AUDCAD important support at longer term 38.2% FIB & 100 wma 9280/50. |
| EURCAD longs at strong support at 1.4615/1.4585 working |
| Crypto shorts worked perfectly again. Outlook remains negative. |
Jason Sen, Director
https://www.daytradeideas.co.uk
