FTSE Chart with Trade Suggestion plus today’s forecasts from Jason Sen, DayTradeIdeas

 

Further gains meet the main challenge for bulls today at 7195/7205. Try shorts with stops above 7225. A break higher is a buy signal targeting 7240/45 & 7260/65.

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Technical Analyst Jason Sen

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AUDUSD we wrote: The long tails on the daily candles could signal a recovery is on the cards but we need to beat resistance at 7780/90 for a buy signal.
We have the buy signal & reached 7842, but have dipped to retest support at 7795/90.
NZDUSD we wrote: break above minor resistance at 7240/45 is a short term buy signal. Jump in to longs to target resistance at 7275/80. This is the main challenge for bulls today but shorts are risky. A break higher is another buy signal….
I hope you jumped in on the break above 7240 as we rocketed to 7311.
USDCAD topped exactly at longer term moving average resistance at 1.2975/85 & did take a tumble (well done if you did try the short). We bottomed exactly at the target of 1.2860/50, seeing a good bounce to minor resistance at 1.2945/55. Gains are likely to be limited but if we continue higher try shorts at 1.2980/1.3000 with stops above 1.3040.
USDJPY we wrote: manages a small bounce but I see no buy signal.
USDJPY had trouble recovering as expected & has collapsed again below 105.84/88 to the next target of  105.55/50 as I write. A break below 105.20 targets 104.90/80, 104.64/60 & 104.35/32.
EURJPY selling opportunity at 131.20/30 did not work as we unexpectedly reached 132.01, but then collapsed back below 131.20/30.
GBPJPY hit important Fibonacci & 200 day moving average resistance at 147.70/80 for a selling opportunity with stops above 148.10.
A perfect trade as we topped at 148.00 & collapsed to first support at 146.55/45 & bottomed exactly here. An easy 115 pips.
A short term burst for Dax bulls took us to the next target of 12260/270 but we topped exactly here. Looks like they have lost control again in the bear trend.
FTSE higher as predicted with a good run to within 7 ticks of very strong resistance at 7195/7205.
Unfortunately we did not quite make it to our selling opportunity here but I hope you managed to exit longs at least.
Wednesday Buy/sell STOP TARGET 1 TARGET 2 Comment
Swing trades
AUDUSD 7795/90 7770 7835/40, 7850 7870/80
USDCAD buy 1.2830/20 stop 1.2795
USDCAD sell 1.2980/1.3000 1.304 1.2950, 1.2915 1.2870, 1.2840
silver sell 1675/85 stop 1695 Reverse in to a long if stopped
NZDUSD buy 7265/60 stop 7235 7310, 7340 7361/64
 

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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.