Daily Technical Analysis is provided by Jason Sen of Day Trade Ideas, who has been day trading since the late 1980’s. Jason has been a contributor of Traders Summit since the beginning. He primarily focuses on providing technical analysis of the financial markets, including stock chart patterns, Forex and Metals setups, and other useful technical analysis.
CPI, inflation rate, PPI, GDP, consumer sentiment. What do they mean & how do they affect markets?
Read our reviews: https://www.sitejabber.com/reviews/daytradeideas.co.uk
Free mentor session. https://members.daytradeideas.co.uk/free-mentor-session
Get 5 free eBooks & a free mentor session with Jason Sen now: https://members.daytradeideas.co.uk/5questions
Join Telegram https://t.me/daytradeideas
AUDUSD has now stablished a new range from 6580/70 up to 6790/6810. A high for the day exactly here on Monday so we remain in the 2 month range. Shorts hit my target & minor support at 6750/45. I suggested we take at least some profit here as this market can reverse for no reason in the sideways range. A low for the day exactly here as expected.
If you still have a portion of the short position you need a break below 6740 to target 6735, perhaps as far as a buying opportunity at 6720/10. Longs need stops below 6690.
Shorts on a retest of resistance at 6790/6810 need stops above 6830. A break higher is a buy signal for this week targeting 6860/70 & 6915/25. NZDUSD only reached 6359 after my buy signal, not as far as my 6380/90 target for profit taking.
I am going to suggest a short today at 6360/70, stop above 6395. A break higher is a buy signal & can target 6480/90.
Shorts at 6360/70 target support at 6310/6290 for profit taking. Longs need stops below 6270. NZDJPY retests the upper trend line of the 4 month range at 8550/70. Shorts need stops above 8595. Targets is 8470/50.
A break above 8595 should be a buy signal targeting 8630/40 & 8680/90.
Please email me if you need this report updated or Whatsapp: +66971910019 – To subscribe to this report please visit daytradeideas.co.uk or email email@example.com
Jason Sen, Director