CHN50 - 24h expiry
Indecisive price action has resulted in sideways congestion on the intraday chart.
RSI (relative strength indicator) is flat and reading close to 50 (mid-point) highlighting the fact that we are non- trending.
Risk/Reward would be poor to call a buy from current levels.
A move through 11850 will confirm the bullish momentum.
The measured...
The Japanese yen has edged lower on Tuesday. In the European session, USD/JPY is trading at 144.76, up 0.17% on the day at the time of writing.
Is Japanese inflation falling? On Tuesday, two inflation indicators pointed to a deceleration in inflation in July. BoJ Core CPI, which is closely monitored by the Bank of Japan, dropped to 1.8%, down from 2.1% in June...
The euro is in negative territory on Monday. In the European session, EUR/USD is trading at 1.1156 at the time of writing, down 0.32% on the day. The euro posted strong gains on Friday, rising 0.73% and breaking above 1.12 for the first time since July 17.
The markets got what they were looking for from Federal Reserve Chair Powell on Friday – an endorsement for...
The Canadian dollar is showing some strength on Friday. In the North American session, USD/CAD is trading at 1.3532 at the time of writing, down 0.60% on the day. The Canadian dollar is at its highest level since early April and is poised to post its third winning week in a row.
Canada’s retail sales report was a mix. In June, retail sales fell 0.3% m/m,...
The New Zealand dollar is drifting on Thursday. In the North American session, NZD/USD has fallen to 0.6132 at the time of writing, down 0.41% on the day.
The New Zealand dollar continues to have its way with its US counterpart and has soared 4% since July 29.
The markets are braced for a downturn in retail sales for the second quarter, with a market estimate of...
Gold - 24h expiry
The primary trend remains bullish.
Price action continues to trade around the all-time highs.
A lower correction is expected.
Dip buying offers good risk/reward.
Risk/Reward would be good to call a buy from current levels.
50 4hour EMA is at 2482.8.
We look to Buy at 2485.2 (stop at 2469.2)
Our profit targets will be 2525.2 and 2532.2...
CHN50 - 24h expiry
Price action looks to be forming a bottom.
Price action has continued to trend strongly lower and has stalled at the previous support near 11500. A move through 11800 will confirm the bullish momentum.
The measured move target is 11950.
RSI (relative strength indicator) is flat and reading close to 50 (mid-point) highlighting the fact that...
The British pound is showing limited movement on Wednesday, after a four-day rally in which it surged 1.7% against the retreating US dollar. GBP/USD is trading at 1.3047 in the North American session at the time of writing, up 0.1% on the day.
The annual meeting at Jackson Hole has added significance this year as the Federal Reserve is expected to deliver a...
HS50 - 24h expiry
Selling posted in Asia.
Short term bias is bullish.
Price action looks to be forming a bottom.
Preferred trade is to buy on dips.
Weekly pivot is at 17348.
We look to Buy at 17350 (stop at 17190)
Our profit targets will be 17750 and 17850
Resistance: 17870 / 18600 / 19780
Support: 17285 / 16695 / 15860
Risk Disclaimer
The trade ideas...
The Canadian dollar is almost unchanged on Tuesday after posting gains over the past two days. In the North American session, USD/CAD is trading at 1.3636 at the time of writing.
Canada’s headline CPI rose to 2.5% year-on-year in July, down from 2.7% in June and matching the market estimate. This marked the lowest annual inflation level since March 2021. Monthly,...
SPX500USD - 24h expiry
Continued upward momentum from 5544 resulted in the pair posting net daily gains yesterday.
5 positive daily performances in succession.
The 261.8% Fibonacci extension is located at 5728 from 5094 to 5336.
The previous swing high is located at 5680.
Further upside is expected although we prefer to set longs at our bespoke support...
The Australian dollar has started the week with slight gains. AUD/USD is trading at 0.6685 in the European session, up 0.24% on the day at the time of writing. Earlier today, the Australian dollar rose as high as 0.6694, marking a one-month high.
Hawkish remarks from Reserve Bank of Australia’s Governor Bullock sent the Aussie flying on Friday. Bullock reiterated...
EURGBP - Intraday
Preferred trade is to buy on dips.
We look to buy dips.
Daily signals are bullish.
20 1day EMA is at 0.8517.
We look for a temporary move lower.
We look to Buy at 0.8515 (stop at 0.8491)
Our profit targets will be 0.8575 and 0.8590
Resistance: 0.8535 / 0.8550 / 0.8575
Support: 0.8528 / 0.8515 / 0.8500
Risk Disclaimer
The trade ideas...
The British pound has extended its gains on Friday. GBP/USD is trading at 1.2887 in the European session, up 0.31% on the day at the time of writing. It has been a winning week for the pound, which has climbed 1%.
There was more good news from the UK economy as retail sales rebounded in July by 0.5% m/m, after a revised decline of 0.9% in June and in line with...
EURAUD - 24h expiry
The medium term bias remains bearish.
Rallies continue to attract sellers.
Risk/Reward would be poor to call a sell from current levels.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 1.6690.
We look to Sell at 1.6690 (stop at 1.6750)
Our profit targets will be 1.6540 and 1.6500
Resistance: 1.6690 / 1.6740 /...
The British pound posted losses earlier but has clawed back and is in positive territory. GBP/USD is trading at 1.2846 in the North American session, up 0.20% on the day.
After sustaining a technical session in the second half of 2023, the UK economy is on a rebound. GDP climbed 0.6% in the second quarter, in line with expectations and a notch lower than the Q1...
USDCAD - 24h expiry
Price action has continued to trend strongly lower and has stalled at the previous support near 1.3700.
Price action looks to be forming a bottom.
We expect a reversal in this move.
Risk/Reward would be poor to call a buy from current levels.
A move through 1.3725 will confirm the bullish momentum.
We look to Buy at 1.3700 (stop at...
The British pound is showing limited movement on Wednesday. GBP/USD is trading at 1.2844 in the European session, down 0.15% on the day.
Headline inflation in the UK rose 2.2% y/y in July, up from 2% in June but below the market estimate of 2.3%. Perhaps most important for the Bank of England, services inflation slowed to 5.2%, the lowest since June 2022 and well...
