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