Gold & Silver Charts with comments on EURUSD, USDCAD, WTI Crude and more. Jason Sen, DayTradeIdeas

 

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Technical Analyst Jason Sen

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EURUSD remains in a narrow sideways trend as we lose all the 240 pip gains of the first half of the week, by the close on Friday.
USDCAD break above 1.3020 was a buy signal targeting 1.3040/50 (hit) before we topped at 1.3098 not quite reaching strong resistance at 1.3120/30.
The $ index remains in a 130 pip sideways range for almost 3 weeks & a wider range for 2 months.

AUDUSD wiped out 2 weeks of 200 pip gains in just 2 days.
NZDUSD also wiped out 2 weeks of gains in just 2 days.
Unfortunately I did not see this coming & after checking the charts again, I see no signal before the move.
USDJPY topped 9 pips from first resistance at 106.50/55 to bottom only 6 pips below the first target & 6 week trend line support at 105.70/65.
EURJPY wipes out most of the 2 week gains in just 3 days as we break minor support at 130.55/50 to bottom 5 pips above the next target of 130.00/129.90.
WTI Crude trading in a range of 5972-6424 for over 4 weeks.
Emini S&P & Bitcoin to follow shortly.
Friday Buy/sell STOP TARGET 1 TARGET 2 Comment
EURUSD buy 1.2175/65 stop 1.2140
Reverse in to a short if stopped
EURUSD sell 1.2390/1.2400 stop 1.2425 1.2375, 1.2340 Reverse in to a long if stopped
USDCAD sell 1.3150/70 stop 1.3215 Reverse in to a long if stopped
Gold buy 1303/01 1296 1309, 1316 1321, 1324
USDJPY sell 106.90/107.00 107.35 106.50, 106.10 Reverse in to a long if stopped
USDJPY buy 105.00/104.90 104.65
Reverse in to a short if stopped
NZDUSD sell 7270/80 7305 7240, 7220 7200
NZDUSD buy 7185/75 stop 7145 7220, 7245 7265
Reverse in to a short if stopped
AUDUSD buy 7635/25 stop 7580 7655, 7695 7710
Reverse in to a short if stopped

 

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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.