Gold & Silver Chart with Trade Suggestions & FX forecasts from Jason Sen, DayTradeIdeas


Gold held support at 1317/16 & longs worked perfectly as we shot higher to quite strong resistance at 1225/27. This trade has worked every day for the last 3 days.
Silver trades sideways, unable to beat the most important resistance of the week at 1675/85.


Technical Analyst Jason Sen

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USDJPY longs at 106.60/50 were held above 106.20 & we reached the first target of 107.10/20.
EURJPY completes the reverse head & shoulders for a buy signal. We should hold support at 130.90/70 but longs need stops below 130.30. 
AUDUSD shorts at 7875/80 with stops above 7900, are working as we top at 7897 & bottom just 3 pips above first support at 7840/36.
NZDUSD in a painfully slow recovery as we reach 7354.
EURUSD bottomed exactly at first support at 1.2320/10 & beat minor resistance at 1.2350/55 to top exactly at quite strong resistance at 1.2400/10 where we expected a high for the day.
USDCAD longs from strong support at 1.2830/20 worked as we reached resistance at 1.2875/85. However shorts here were stopped above 1.2930.
We topped exactly at important resistance again at 1.2980/1.3000.
**We need to be short just below 1.3000**
GBPUSD shorts at 1.3930/35 were stopped out, giving us a buy signal targeting 1.3990/95. We topped exactly here.
GBPJPY we wrote: outlook positive if we hold above 147.70/80 targeting 148.35, 148.55/60 (already hit) & 148.95/99. Eventually we are likely to test strong resistance at 149.40/45.
We topped just 4 pips from 149.40.
Wednesday Buy/sell STOP TARGET 1 TARGET 2 Comment
AUDUSD sell 7875/85 7905 7855, 7845 7830, 7820 Reverse in to a long if stopped
EURUSD buy 1.2340/30 stop 1.2290 1.2390, 1.2430
USDCAD sell 1.2980/1.3000 stop 1.3030 1.2935, 1.2910, 1.2860, 1.2830
Gold buy 1303/01 1296 1309, 1316 1321, 1324
EURJPY buy 1.3200/1.3180 1.313 132.45, 133.00 133.40/50


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About the author

JASON SEN Began to study technical analysis in 2006 and established Daytradeideas, the leading provider of daily technical analysis to independent & professional traders within the investment bank community for Stock Index, Energy & Fixed Income products, advising dozens of traders at up to 15 major investment banks and hedge funds on market movement, throughout each trading day on The Bloomberg Professional® service with trade ideas – entry, exit and target levels in daily reports published before the Futures markets open in Europe.