Gold - Intraday
Selling posted close to the previous high of 2726.0.
2721.3 has been pivotal.
Offers ample risk/reward to sell at the market.
Bearish divergence is expected to cap gains.
Early optimism is likely to lead to gains although extended attempts higher are expected to fail.
We look to Sell at 2718.5 (stop at 2738.5)
Our profit targets will be...
The British pound is lower on Friday. In the European session, GBP/USD is currently trading at 1.2201, down 0.27% on the day. The pound can't find its footing and is down 2.5% in January and a massive 8.8% since October 1.
UK retail sales ended the week on a disappointing note. December retail sales declined 0.3% m/m, down from a downwardly revised 0.1% gain in...
The British pound has edged lower on Thursday. In the European session, GBP/USD is currently trading at 1.2205, down 0.22%.
The UK economy climbed out of negative growth for the first time in three months but not by much. After GDP contracted by 0.1% in September and October, November saw a small gain of 0.1%, missing the market estimate of 0.2%. In the three...
NIK225 - 24h expiry
Price action looks to be forming a bottom.
A higher correction is expected.
With the Ichimoku cloud resistance above we expect gains to be limited.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Further downside is expected although we prefer to sell into rallies close to the 39280...
The Australian dollar is higher for a third consecutive trading day. In the North American session, AUD/USD is trading at 0.6233, up 0.63% at the time of writing.
The US inflation report for December was a mixed bag, as headline CPI rose while the core rate declined. Headline CPI rose to 2.9% y/y from 2.7% in November, matching the market estimate. Monthly,...
The yen remains calm and is lower on Tuesday. In the North American session, USD/JPY is trading at 157.98, up 0.34% on the day.
There are no tier-1 events out of Japan this week and the yen is having a relatively quiet week. That could change with the release of US inflation on Wednesday. Headline CPI is expected to rise to 2.9% y/y in December from 2.7% in...
The Australian dollar is showing little movement on Tuesday. In the European session, AUD/USD is trading at 0.6174, down 0.06% at the time of writing.
The Australian consumer remains pessimistic about the economic outlook. The Westpac consumer sentiment index fell 0.7% in January from -2% in December 2024. This brought the index down to 92.1 in January, down from...
NZDUSD - 24h expiry
There is no clear indication that the downward move is coming to an end.
Further downside is expected.
Risk/Reward would be poor to call a sell from current levels.
A move through 0.5540 will confirm the bearish momentum.
The measured move target is 0.5475.
We look to Sell at 0.5585 (stop at 0.5625)
Our profit targets will be 0.5485 and...
EURNZD - 24h expiry
The primary trend remains bullish. Dips continue to attract buyers. Dip buying offers good risk/reward. 20 1day EMA is at 1.8353. We look for a temporary move lower.
We look to Buy at 1.8355 (stop at 1.8295)
Our profit targets will be 1.8505 and 1.8535
Resistance: 1.8340 / 1.8481 / 1.8500
Support: 1.8368 / 1.8350 / 1.8280
Risk...
The Canadian dollar started the week with strong gains but has shown little movement since then. In the European session, USD/CAD is trading at 1.4411, up 0.12% at the time of writing. We could see stronger movement from the Canadian dollar in the North American session, with the release of Canadian and US employment reports.
Canada's economy may not be in great...
GBPUSD - Intraday
The primary trend remains bearish.
Bullish divergence is expected to support prices.
We look for a temporary move higher.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 1.2350.
We look to Sell at 1.2350 (stop at 1.2380)
Our profit targets will be 1.2245 and 1.2225
Resistance: 1.2320 / 1.2360 / 1.2400
Support:...
EURAUD - 24h expiry
The medium term bias remains bearish.
A higher correction is expected.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 1.6680.
The hourly chart technicals suggests further upside before the downtrend returns.
We look to Sell at 1.6680 (stop at 1.6730)
Our profit targets will be 1.6540 and 1.6510
Resistance:...
The British pound is on a nasty slide and has lost 1.8% since Monday. In the European session, GBP/USD is currently trading at 1.2294, down 0.53%. Earlier, the pound fell as low as 1.2237 (1%), it lowest level since Nov. 2023.
The latest setback for the pound was Thursday's British Retail Consortium (BRC) Shop Price index, which came in at -1% in December, lower...
NZDJPY - 24h expiry
The primary trend remains bearish.
Price action looks to be forming a top.
Preferred trade is to sell into rallies.
The hourly chart technicals suggests further upside before the downtrend returns.
Bespoke resistance is located at 89.00.
We look to Sell at 89.00 (stop at 89.25)
Our profit targets will be 88.40 and 88.20
Resistance:...
The Australian dollar is lower for a second straight trading day. In the North American session, AUD/USD is trading at 0.6214, down 0.27% at the time of writing. The Australian dollar dropped as low as 0.60% but has pared much of those losses.
Australia's inflation report was a mixed bag in November. Headline inflation rose 2.3% y/y, up from 2.1% in the previous...
EURGBP - 24h expiry
The primary trend remains bearish.
Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end.
There is no clear indication that the downward move is coming to an end.
The bearish engulfing candle on the 4 hour chart is negative for sentiment.
50 1day EMA is at 0.8310....
CHN50 - 24h expiry
There is no clear indication that the downward move is coming to an end.
A higher correction is expected.
Risk/Reward would be poor to call a sell from current levels.
A move through 13000 will confirm the bearish momentum.
The measured move target is 12750.
We look to Sell at 13200 (stop at 13400)
Our profit targets will be 12800 and...
The Swiss franc is higher for a third straight trading day. In the European session, USD/CHF is currently trading at 0.9038, down 0.09% on the day.
Switzerland's inflation rate continues to fall and that is raising concerns at the Swiss National Bank. Other central banks are worried about the upside risk of inflation but the SNB is worried about inflation...
