Technical Analysis DayTradeIdeas
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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NZDJPY made a high for the day exactly at strong resistance at 8690/8700. Shorts need stops above 8720.
Targets: 8660, 8630 NZDUSD severely oversold so a bounce is possible to minor resistance at 5975/85 (a high for the day only 3 pips below yesterday). Shorts need stops above 5995.
Strong resistance at 6015/25. Shorts need stops above 6040.
USDCAD support at 1.3520/10.
AUDUSD did bounce to resistance at 6460/80 as predicted with a high for the day only 3 pips below.
Shorts need stops above 6510. Targets: 6430, 6380
EURUSD made a high for the day only 5 pips from strong resistance at 1.0935/50.
GBPUSD forms a 3 week descending triangle as I wait to see if the head & shoulders reversal pattern plays out on the daily chart.
Strong resistance at 1.2815/35 & shorts need stops above 1.2855.
Support at the neck line at 1.2635/15. So this is the key level.
A break below 1.2595 however will be an important longer term sell signal – I have my eye on it!
EURCAD made a high for the day exactly at strong resistance at 1.4780/1.4800 before a 98 pip collapse. Shorts here again on a retest this week need stops above 1.4820. A break higher should be a buy signal targeting 1.4870/80.
AUDCAD we are short at strong resistance at 8730/50. Shorts need stops above 8765.
Targets: 8690, 8660, 8630.
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Jason Sen, Director
https://www.daytradeideas.co.uk
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