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
...
Silver - Intraday - We look to Sell at 19.5400 (stop at 19.7539)
The medium term bias remains bearish. We have a 38.2% Fibonacci pullback level of 19.5428 from 18.7205 to 20.8732. There is scope for mild buying at the open but gains should be limited. Preferred trade is to sell into rallies.
Our profit targets will be 18.7206 and 18.5000
Resistance: ...
EURUSD - Intraday - We look to Sell at 1.0043 (stop at 1.0106)
The medium term bias remains bearish. There is scope for mild buying at the open but gains should be limited. Trend line resistance is located at 1.0050. Resistance could prove difficult to breakdown. We look to sell rallies.
Our profit targets will be 0.9899 and 0.9850
Resistance: 1.0050 /...
The euro has posted gains today and briefly punched above the symbolic parity line. In the North American session, EUR/USD is trading at 0.9978, up 0.11%.
It seems that whatever angle you examine Germany's economy, things are not looking good. Services and manufacturing PMIs both remained in contraction territory (below 50.0) for a second straight month. The...
EURAUD - Intraday - We look to Sell at 1.4400 (stop at 1.4465)
Previous support located at 1.4300. Previous resistance located at 1.4350. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 1.4400, resulting in improved risk/reward. A move through 1.4300 will confirm the bearish momentum.
Our profit targets will...
SPX500USD - Intraday - We look to Sell at 4195 (stop at 4244)
Sentiment remains negative despite the pull-back higher in prices. A bearish Head and Shoulders is forming. Rallies continue to attract sellers. We can see no technical reason for a change of trend. Further downside is expected although we prefer to sell into rallies close to the 4200 level.
Our...
Gold - Intraday - We look to Sell at 1764.39 (stop at 1775.06)
The medium term bias remains bearish. We are assessed to be in a corrective mode higher. Horizontal resistance is seen at 1765.00. We look to sell rallies.
Our profit targets will be 1735.55 and 1730.00
Resistance: 1765.00 / 1820.00 / 1980.00
Support: 1735.00 / 1700.00 / 1600.00
Risk...
The New Zealand dollar continues to show volatility this week. In the North American session, NZD/USD is trading at 0.6182, down 0.48%, erasing all of Tuesday's gains.
Later today, New Zealand releases retail sales for the second quarter. The markets are expecting a strong rebound of 1.7%, after the Q1 reading of -0.5%. The release is expected to reflect pent-up...
NZDJPY - Intraday - We look to Sell at 84.91 (stop at 85.31)
Signals are mixed but remain mildly bearish with an short-term timeframe highlighting an exhaustion count. We look for a temporary move higher. Prices expected to stall near trend line resistance. Preferred trade is to sell into rallies. Further downside is expected.
Our profit targets will be 84.01...
NAS100USD/b] - Intraday - We look to Sell at 13124 (stop at 13319)
Short term momentum is bearish. There is scope for mild buying at the open but gains should be limited. Horizontal resistance is seen at 13150. Resistance could prove difficult to breakdown. We look to sell rallies.
Our profit targets will be 12705 and 12600
Resistance: 13150 / 13600 /...
USDCAD - Intraday - We look to Sell at 1.3000 (stop at 1.3050)
Previous support located at 1.2950. Previous resistance located at 1.3000. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 1.3000, resulting in improved risk/reward. A move through 1.2950 will confirm the bearish momentum.
Our profit targets will...
NZDUSD - Intraday - We look to Sell at 0.6250 (stop at 0.6300)
Previous support located at 0.6200. Previous resistance located at 0.6250. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 0.6250, resulting in improved risk/reward. A move through 0.6200 will confirm the bearish momentum.
Our profit targets will...
The British pound has jumped 0.82% today, as the currency has rebounded somewhat from its worst week of the year. GBP/USD plunged 2.53% last week, as the US dollar has found its mojo after weeks of beating a retreat. GBP/USD has climbed today after US New Home Sales dropped to 511 thousand in July, down from 585 thousand in August and well below expectations.
UK...
SPX500USD - Intraday - We look to Buy at 4083 (stop at 4018)
Daily signals for sentiment are at oversold extremes. A move lower faces tough support and we remain cautious on downside potential. Further upside is expected although we prefer to buy into dips close to the 4080 level. Risk/Reward would be poor to call a buy from current levels.
Our profit targets...
EUR/USD has stabilized after a rough start to the week. In the European session, EUR/USD is trading at 0.9931, down 0.10% on the day and its lowest level since November 2002.
After weeks in retreat, the US dollar has rebounded and is showing broad strength. The euro has taken it on the chin, falling 2.12% last week and down another 1.07% this week. It looks like...
