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 beat first resistance at 6915/25 but made a high for the day exactly at strong resistance at 6960/70.
NZDUSD shorts at resistance at 6300/20 worked perfectly with a high on Thursday & a collapse to my 6160/50 target.
AUDJPY edges slowly higher to first resistance at 9500/20. Shorts need stops above 9540.
Remember when support is broken it usually acts as resistance & vice-versa.
Update daily by 05:00 GMT
Today’s Analysis.
AUDUSD shorts at strong resistance at 6960/70 hit my first target of 6920/10 as we look for 6865/55, perhaps as far as 6800/6780 this week. Further losses are certainly possible to 6730/20 & even the July low at 6690/80.
Gains are likely to be limited in the bear trend with strong resistance at 6960/70. Shorts need stops above 6990. A break higher however meets strong resistance at 7030/50. Shorts need stops above 7070.
NZDUSD shorts at first resistance at 6215/25 have been held as we reverse from 6244 (lucky!!). Target is 6160/50. On further losses look for 6110/00 before a retest of the July low at 6070/60.
First resistance at 6215/25. Shorts need stops above 6250. Strong resistance at 6290/6310. Shorts need stops above 6325.
AUDJPY hit first resistance at 9500/20. Shorts need stops above 9540. A break higher can target 9575, perhaps as far as 9660/80.
Shorts at 9500/20 target 9450/40 then 9420/10 for some profit taking.
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
20220824