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Today's Trading Strategies
December 19, 2022
 
   
 
GBP/USD   AUD/USD   Gold   USD/JPY   Nasdaq 100 (CME)   Dow Jones (CME)   GBP/JPY  
 
 
 
 
  Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.
 
 
     
 
GBP/USD Intraday: key resistance at 1.2225.
 
Pivot:
1.2225
 
Our preference:
Short positions below 1.2225 with targets at 1.2120 & 1.2090 in extension.
 
Alternative scenario:
Above 1.2225 look for further upside with 1.2260 & 1.2300 as targets.
 
Comment:
The upward potential is likely to be limited by the resistance at 1.2225.
 
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AUD/USD Intraday: bullish bias above 0.6675.
 
Pivot:
0.6675
 
Our preference:
Long positions above 0.6675 with targets at 0.6740 & 0.6765 in extension.
 
Alternative scenario:
Below 0.6675 look for further downside with 0.6650 & 0.6630 as targets.
 
Comment:
A support base at 0.6675 has formed and has allowed for a temporary stabilisation.
 
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Gold Intraday: expect 1805.00.
 
Pivot:
1784.00
 
Our preference:
Long positions above 1784.00 with targets at 1798.00 & 1805.00 in extension.
 
Alternative scenario:
Below 1784.00 look for further downside with 1778.00 & 1772.00 as targets.
 
Comment:
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
 
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USD/JPY Intraday: key resistance at 136.65.
 
Pivot:
136.65
 
Our preference:
Short positions below 136.65 with targets at 135.45 & 135.00 in extension.
 
Alternative scenario:
Above 136.65 look for further upside with 137.00 & 137.40 as targets.
 
Comment:
As long as 136.65 is resistance, look for choppy price action with a bearish bias.
 
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Nasdaq 100 (CME)‎ (H3)‎ Intraday: key resistance at 11430.00.
 
Pivot:
11430.00
 
Our preference:
Short positions below 11430.00 with targets at 11280.00 & 11210.00 in extension.
 
Alternative scenario:
Above 11430.00 look for further upside with 11510.00 & 11590.00 as targets.
 
Comment:
The upward potential is likely to be limited by the resistance at 11430.00.
 
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Dow Jones (CME)‎ (H3)‎ Intraday: key resistance at 33280.00.
 
Pivot:
33280.00
 
Our preference:
Short positions below 33280.00 with targets at 32860.00 & 32630.00 in extension.
 
Alternative scenario:
Above 33280.00 look for further upside with 33490.00 & 33680.00 as targets.
 
Comment:
The upward potential is likely to be limited by the resistance at 33280.00.
 
Analyst Views Chart
 
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GBP/JPY intraday: the downside prevails as long as 166.23 is resistance
 
Our pivot point is at 166.23.
 
Our preference:
The downside prevails as long as 166.23 is resistance.
 
Alternative scenario:
Above 166.23, look for 167 and 167.46.
 
Comment:
The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 165.97 and 166.71).
 
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