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.
EURUSD longs at support at 1.0560/40 worked perfectly & so did buying a break above 1.0600 as we hit the 1.0670/80 target, reaching 1.0697. This week we could reach as far as 1.0800.
I think the downside should be limited with minor support at 1.0650/40 & strong support at 1.0620/00.
AUDUSD rallied from 7036 targeting 7095/99, with a high for the day just 8 pips from very strong resistance at 7135/55. Shorts need stops above 7175.
Minor support at 7050/45, strong support at 7030/20. Longs need stops below Holding below 7000. A break lower however targets 6940/30.
NZDUSD broke higher for a buy signal targeting 6490/6500, with a high for the day here. First support at 6420/00 on this dip. Longs need stops below 6385.
Longs at 6420/00 target 6470 & 6490. Above 6500 look for 6520/30.
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Jason Sen, Director