US30USD - Intraday - We look to Sell at 31991 (stop at 32442)
The medium term bias remains bearish. There is scope for mild buying at the open but gains should be limited. Previous support at 32000 now becomes resistance. Resistance could prove difficult to breakdown. Preferred trade is to sell into rallies.
Our profit targets will be 30952 and 30700
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The euro is in positive territory today after taking a nasty spill on Thursday. In the European session, EUR/USD is trading at 0.9984, up 0.40%.
Thursday was a day to file away and move on for the euro, as EUR/USD tumbled 1.07%. The euro is under pressure from a high-flying US dollar and is having trouble staying above the symbolic parity line. A combination of...
GBPUSD - Intraday - We look to Sell at 1.1655 (stop at 1.1725)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible. Buying pressure from 1.1498 resulted in prices rejecting the dip. The current move higher is expected to continue. The bias is still for lower levels and we look for any gains to be limited. We look...
Silver - Intraday - We look to Sell at 18.40 (stop at 18.69)
Preferred trade is to sell into rallies. The bias is still for lower levels and we look for any gains to be limited. News events could adversely affect the short term technical picture. We can see no technical reason for a change of trend.
Our profit targets will be 17.57 and 17.10
Resistance: ...
GBPJPY - Intraday - We look to Sell at 162.50 (stop at 163.00)
We are trading at overbought extremes. This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower. The 200 period moving average should provide resistance at 162.60. Preferred trade is to sell into rallies.
Our profit targets will...
US2000USD - Intraday - We look to Sell at 1880 (stop at 1910)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible. We are trading at oversold extremes. The bias is still for lower levels and we look for any gains to be limited. We therefore, prefer to fade into the rally with a tight stop in anticipation of a...
EURGBP - Intraday - We look to Buy at 0.8600 (stop at 0.8565)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. We are trading at overbought extremes. A lower correction is expected. The bias is still for higher levels and we look for any dips to be limited. We therefore, prefer to fade into the dip with a...
The euro continues to have a calm week. In the North American session, EUR/USD is showing little movement as it trades a whisker above the parity line.
Inflation in the eurozone continues to move higher. In August, CPI rose to 9.1%, up from the July gain of 8.9%, which was a record high. Core inflation climbed to 4.3%, up from 4.0%. With both the headline and...
NAS100USD - Intraday - We look to Sell at 12694 (stop at 12973)
The medium term bias remains bearish. Trading within a Bearish Channel formation. We are assessed to be in a corrective mode higher. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 12800, resulting in improved risk/reward.
Our profit targets will...
XAUUSD - Intraday - We look to Sell at 1737.82 (stop at 1750.19)
The medium term bias remains bearish. A higher correction is expected. Resistance is located at 1740.00 and should cap gains to this area. Preferred trade is to sell into rallies.
Our profit targets will be 1710.37 and 1700.00
Resistance: 1740.00 / 1800.00 / 1880.00
Support: 1710.00 /...
USDJPY - Intraday - We look to Buy at 137.63 (stop at 136.77)
We are trading at overbought extremes. Although we remain bullish overall, a correction is possible with plenty of room to move lower without impacting the trend higher. Support is located at 137.50 and should stem dips to this area. Dip buying offers good risk/reward.
Our profit targets will be...
EURJPY - Intraday - We look to Buy at 137.80 (stop at 137.00)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. A lower correction is expected. The bias is still for higher levels and we look for any dips to be limited. We look to buy dips.
Our profit targets will be 140.00 and 141.70
Resistance: 141.70...
The Japanese yen is in positive territory today after starting the week with sharp losses. USD/JPY is trading at 138.22, down 0.34%.
Japan releases a host of events on Wednesday, including retail sales and consumer confidence. Retail sales for July is expected to come in at -0.5% MoM, following a 1.4% decline in June. Consumer confidence remains weak, with a July...
US30USD - Intraday - We look to Sell at 32761 (stop at 33164)
The medium term bias remains bearish. A Doji style candle has been posted from the base. We look for a temporary move higher. A Fibonacci confluence area is located at 32800. Preferred trade is to sell into rallies.
Our profit targets will be 31822 and 31600
Resistance: 32800 / 34300 / 36800
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GBPCHF - Intraday - We look to Sell at 1.1371 (stop at 1.1406)
The medium term bias remains bearish. 50 4hour EMA is at 1.1373. Prices expected to stall near trend line resistance. Expect trading to remain mixed and volatile.
Our profit targets will be 1.1269 and 1.1210
Resistance: 1.1370 / 1.1427 / 1.1527
Support: 1.1358 / 1.1285 / 1.1200
Risk...
EUR/USD has edged higher today and is trading at the parity line. In the North American sesssion, EUR/USD is trading at 1.0019, up 0.57%.
The US dollar has posted sharp gains against the major currencies, as Fed Chair Powell's hawkish speech at Jackson Hole left no doubt that the Fed will continue to tighten rates in its titanic battle with surging inflation. The...
The Japanese yen is in negative territory today. USD/JPY is trading at 136.90 in the European session, up 0.34%.
It has been a relatively quiet week for the yen, which is trading exactly where it started the week, around the 137 line. The month of August has not been kind to the yen, with USD/JPY soaring 2.75%. The US dollar is again in favor as the markets have...
EURGBP - Intraday - We look to Buy at 0.8411 (stop at 0.8396)
Trading has been mixed and volatile. Short term bias is mildly bullish. We look to buy dips. 0.8410 has been pivotal. Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
Our profit targets will be 0.8448 and 0.8458
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