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Today's Trading Strategies
January 17, 2023
 
   
 
GBP/USD   Gold   USD/JPY   Nasdaq 100 (CME)   Dow Jones (CME)   GBP/JPY   AUD/USD  
 
 
 
 
  Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.
 
 
     
 
GBP/USD Intraday: watch 1.2145.
 
Pivot:
1.2225
 
Our preference:
Short positions below 1.2225 with targets at 1.2170 & 1.2145 in extension.
 
Alternative scenario:
Above 1.2225 look for further upside with 1.2255 & 1.2290 as targets.
 
Comment:
The RSI calls for a new downleg.
 
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Gold Intraday: caution.
 
Pivot:
1909.00
 
Our preference:
Long positions above 1909.00 with targets at 1922.00 & 1929.00 in extension.
 
Alternative scenario:
Below 1909.00 look for further downside with 1900.00 & 1892.00 as targets.
 
Comment:
Intraday technical indicators are mixed and call for caution.
 
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USD/JPY Intraday: bullish bias above 128.20.
 
Pivot:
128.20
 
Our preference:
Long positions above 128.20 with targets at 129.30 & 129.70 in extension.
 
Alternative scenario:
Below 128.20 look for further downside with 127.70 & 127.20 as targets.
 
Comment:
The RSI calls for a bounce.
 
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Nasdaq 100 (CME)‎ (H3)‎ Intraday: the bias remains bullish.
 
Pivot:
11480.00
 
Our preference:
Long positions above 11480.00 with targets at 11640.00 & 11750.00 in extension.
 
Alternative scenario:
Below 11480.00 look for further downside with 11400.00 & 11290.00 as targets.
 
Comment:
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
 
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Dow Jones (CME)‎ (H3)‎ Intraday: the bias remains bullish.
 
Pivot:
34230.00
 
Our preference:
Long positions above 34230.00 with targets at 34490.00 & 34660.00 in extension.
 
Alternative scenario:
Below 34230.00 look for further downside with 34000.00 & 33800.00 as targets.
 
Comment:
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
 
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GBP/JPY intraday: the upside prevails as long as 156.19 is support
 
Our pivot point stands at 156.19.
 
Our preference:
The upside prevails as long as 156.19 is support.
 
Alternative scenario:
Below 156.19, expect 155.22 and 154.64.
 
Comment:
The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 156.80 and 156.70).
 
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AUD/USD Intraday: choppy.
 
Pivot:
0.6990
 
Our preference:
Short positions below 0.6990 with targets at 0.6940 & 0.6920 in extension.
 
Alternative scenario:
Above 0.6990 look for further upside with 0.7005 & 0.7020 as targets.
 
Comment:
As long as 0.6990 is resistance, look for choppy price action with a bearish bias.
 
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