Technical Analysis – DayTradeIdeas
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.
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US dollar index beat resistance at 102.65/75 to hit the next target of 103.05/10.
I think we have established a new range from 102.00/101.90 up to 103.00/20. Holding this resistance targets minor support at 102.70/50. A break below here targets 102.00/101.90.
A break above 103.30 can target 103.65/70.
AUDUSD collapsed 100 pips to the next target of 6690/80, wiping out 50% of the very strong gains from the first 2 weeks of June.
Resistance at 6740/60. Shorts need stops above 6780.
CADJPY made a low for the day just 8 pips above support at 107.90/70. Longs need stops below 107.50.
Targets: 108.30, 108.70
NZDJPY may be forming a double top & it may be worth betting on this pattern by selling at 8825/55. Shorts need stops above 8875.
Targets: 8790 & 8745
Strong support at 8745/25. Longs need stops below 8710.
Targets: 8785, 8820
GBPUSD breaks support at 1.2720/00 so we have resistance at 1.2720/40. Shorts need stops above 1.2760.
Targets: 1.2680, 1.2650, 1.2610
EURCAD shorts at resistance at 1.4470/90 worked perfectly last week hitting targets of 1.4440, 1.4410, 1.4370.
We can try this trade again this week on any retest.
Shorts need stops above 1.4510.
USDCAD made a high for the day exactly at resistance at 1.3210/30. Shorts on a retest of the resistance this week need stops above 1.3245.
We can try this trade again this week on any retest.
Please email me if you need this report updated or Whatsapp: +66971910019 – To subscribe to this report please visit daytradeideas.co.uk or email jason@daytradeideas.co.uk
Jason Sen, Director
https://www.daytradeideas.co.uk
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