Acuity Signal Centre: Currency, Gold, Oil 10 Mar 2022

10 Mar 2022

Bias: Bullish

We look to Buy at 1.0954 with target prices of 1.1195 and 1.1225, and a stop price of 1.0842

Confidence: 20%

Short term indicators have turned positive
This is positive for sentiment and the uptrend has potential to return
Dip buying offers good risk/reward
Further upside is expected although we prefer to buy into dips close to the 1.0950 level

Bias: Bearish

We look to Sell at 1.3290 with target prices of 1.3090 and 1.3000, and a stop price of 1.3360

Confidence: 60%

Bias: Bearish

We look to Sell at 116.45 with target prices of 115.52 and 115.25, and a stop price of 116.82

Confidence: 20%

Prices have continued the bullish move higher and resulted in 3 consecutive positive days
This has resulted in signals for sentiment being at overbought extremes and we look for a move to the downside
A move higher faces tough resistance and we remain cautious on upside potential
Preferred trade is to sell into rallies

Bias: Bearish

We look to Sell at 2008 with target prices of 1940 and 1920, and a stop price of 2041

Confidence: 20%

Although we remain bullish overall, a correction is possible with plenty of room to move lower without impacting the trend higher
A bearish Head and Shoulders is forming
Further downside is expected and we prefer to set shorts in early trade
Although the anticipated move lower is corrective, it does offer ample risk/reward today
Preferred trade is to sell into rallies

Bias: Bearish

We look to Sell at 14078 with target prices of 13802 and 13702, and a stop price of 14191

Confidence: 60%

Daily signals are bearish
Bespoke resistance is located at 14100
Trading close to the psychological 14000 level
We look for a temporary move higher
Early optimism is likely to lead to gains although extended attempts higher are expected to fail
20 1day EMA is at 14000

Bias: Bullish

We look to Buy at 0.7254 with target prices of 0.7398 and 0.7425, and a stop price of 0.7198

Confidence: 60%

Buying pressure from 0.7250 resulted in prices rejecting the dip
This is positive for sentiment and the uptrend has potential to return
Our bias remains bullish and further upside is expected to target resistance at 0.7400
Dip buying offers good risk/reward

Bias: Bearish

We look to Sell at 113.04 with target prices of 95.52 and 95.00, and a stop price of 121.14

Confidence: 20%

Although we remain bullish overall, a correction is possible with plenty of room to move lower without impacting the trend higher
A lower correction is expected
Preferred trade is to sell into rallies
Further downside is expected