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Today's Trading Strategies
January 31, 2023
 
   
 
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: under pressure.
 
Pivot:
1.2375
 
Our preference:
Short positions below 1.2375 with targets at 1.2335 & 1.2320 in extension.
 
Alternative scenario:
Above 1.2375 look for further upside with 1.2395 & 1.2415 as targets.
 
Comment:
As long as the resistance at 1.2375 is not surpassed, the risk of the break below 1.2335 remains high.
 
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AUD/USD Intraday: the downside prevails.
 
Pivot:
0.7070
 
Our preference:
Short positions below 0.7070 with targets at 0.7020 & 0.7000 in extension.
 
Alternative scenario:
Above 0.7070 look for further upside with 0.7090 & 0.7110 as targets.
 
Comment:
The RSI calls for a new downleg.
 
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Gold Intraday: look for 1911.00.
 
Pivot:
1930.00
 
Our preference:
Short positions below 1930.00 with targets at 1916.00 & 1911.00 in extension.
 
Alternative scenario:
Above 1930.00 look for further upside with 1935.00 & 1942.00 as targets.
 
Comment:
The RSI is bearish and calls for further decline.
 
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USD/JPY Intraday: caution.
 
Pivot:
130.00
 
Our preference:
Long positions above 130.00 with targets at 130.60 & 130.80 in extension.
 
Alternative scenario:
Below 130.00 look for further downside with 129.70 & 129.40 as targets.
 
Comment:
Intraday technical indicators are mixed and call for caution.
 
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Nasdaq 100 (CME)‎ (H3)‎ Intraday: under pressure.
 
Pivot:
12055.00
 
Our preference:
Short positions below 12055.00 with targets at 11900.00 & 11840.00 in extension.
 
Alternative scenario:
Above 12055.00 look for further upside with 12120.00 & 12250.00 as targets.
 
Comment:
The RSI is below its neutrality area at 50%
 
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Dow Jones (CME)‎ (H3)‎ Intraday: choppy.
 
Pivot:
33950.00
 
Our preference:
Short positions below 33950.00 with targets at 33700.00 & 33570.00 in extension.
 
Alternative scenario:
Above 33950.00 look for further upside with 34120.00 & 34240.00 as targets.
 
Comment:
The RSI is mixed to bearish.
 
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GBP/JPY intraday: below its lower Bollinger band
 
Our pivot point stands at 161.62.
 
Our preference:
The downside prevails as long as 161.62 is resistance.
 
Alternative scenario:
The upside breakout of 161.62, would call for 162.71 and 163.36.
 
Comment:
The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 161 and 160.99). Finally, the GBP/JPY is trading below its lower Bollinger band (standing at 160.73).
 
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