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 first support at 9920/00. Longs need stops below 9870. Second support at 9850/30. Longs need stops below 9820.
A break above the Monday to Wednesday high at 9953/9975 can target 1.0000 & 1.0050/55. If we continue higher look for the 2 week high at 1.0083/93.
USDCAD holding below 1.3500 is a sell signal for the start of this week targeting 1.3420/00 & perhaps as far as 1.3380/70 today.
Shorts at resistance at 1.3500/20 need stops above 1.3540.
Dax December now meets resistance at 13550/600. Shorts need stops above 13700. A break higher is a strong buy signal targeting 13770 & the August high at 13950/970.
Shorts at strong resistance at 13550/600 target 13470 & 13300/280. Further losses can target 13180/150.
FTSE December soared 340 (5%) ticks last week. 200 ticks of that gain was on Friday. I have no idea what happens today! The 87.6% Fibonacci level is 7390. Above here look for 7430/40, perhaps as far as 7480/85.
First support at 7280/70 with strong support at 7220/00. Longs need stops below 7180.
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Jason Sen, Director
https://www.daytradeideas.co.uk
20221107
