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.
AUDUSD holding first support at 7540/20 keeps us in a 2 month bull trend initially targeting 7630/40.
Longs at 7540/20 stop below 7500. Just be aware that there is minor support at 7460/50 – a break below 7435 is a sell signal.
EURUSD continues lower as expected to test support at 1.0960/50. A break lower is a sell signal targeting important 5 year trend line support at 1.0850/20. Longs need stops below 1.0780.
Very minor resistance at 1.1000/10 – shorts need stops above 1.1030. Strong resistance at 1.1140/60. Shorts need stops above 1.1185 today!! A break higher is a buy signal targeting very strong resistance at 1.1230/50. Shorts need stops above 1.1270.
USDCAD may be about to test the 500 week moving average at 1.2440/10. Should be worth trying longs with stop below 1.2370. First resistance again at 1.2530/50. Shorts need stops above 1.2565. A break higher targets a sell opportunity at 1.2600/20. Shorts need stops above 1.2640.
To subscribe to our daily reports please visit daytradeideas.co.uk or email jason@daytradeideas.co.uk
No representation or warranty is made as to the accuracy or completeness of this information and opinions expressed may be subject to change without notice. Estimates and projections set forth herein are based on assumptions that may not be correct or otherwise realised. All reports and information are designed for information purposes only and neither the information contained herein nor any opinion expressed is deemed to constitute an offer or invitation to make an offer, to buy or sell any security or any option, futures or other related derivatives.
Jason Sen, Director
https://www.daytradeideas.co.uk
20220405