Nasdaq: A break higher 12500 is a strong buy signal [Video]

Jason Sen DayTradeIdeas.co.uk

Emini S&P beat 3815 but also strong resistance at 3875/95 reaching 3919. Further gains are likely now to 3965/75, perhaps as far as 4010/20.

Strong support at 3790/80. Longs need stops below 3760.

Nasdaq filled the gap at 11850 but continued higher strong resistance at 11950/12050. Shorts need stops above 12150. A break higher is a buy signal targeting 12350/400. Watch for a high for the day. Shorts need stops above 12500. A break higher here is a strong buy signal for the summer, targeting 12900/950 & strong resistance at 13200/300.

Best support at 11750/700. Longs need stops below 11650. A break lower targets 11550/500.

Emini Dow Jones bounce from support at 30200/100 made it as far as strong resistance at 31300/400. Shorts need stops above 31500. A break higher is a buy signal targeting 31800/900, perhaps as far as 32400.

Minor support at 31100/31000 then very strong support at 30600/500. Longs need stops below 30400.

EURUSD key resistance at 1.0615/30. Shorts need stops above 1.0650. A break higher is a buy signal (& weekly close above for confirmation) targeting 1.0680/85, probably as far as 1.0790/1.0810 into next week.

Minor support at 1.0460/50 could hold the downside again today. Below 1.0430 however risks a retest of the double bottom low at 1.0360/50. Longs need stops below 1.0325.

USDCAD first resistance at 1.2935/55, shorts need stops above 1.2970. An unexpected break higher can target 1.3010/20.

The break below 1.2930 is a sell signal initially targeting 1.2870/60. We could pause here but longs look risky. A break below 1.2850 risks a slide to 1.2800 for profit-taking.

Author

Jason Sen

DayTradeIdeas.co.uk

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