EURNZD - Intraday
Risk/reward is ample to call a buy trade.
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
Our short term bias remains positive.
Mixed but positive price action has resulted in consecutive, narrow-ranged, sideways trading days.
Levels close to the 50% pullback...
The British pound is showing limited movement on Friday. In the European session, GBP/USD is trading at 1.2769, up 0.05%.
The British economy grew in November by 0.3% m/m, rebounding from a 0.3% decline in October and edging above the market estimate of 0.2%. This was the sharpest GDP growth since July and was driven by stronger activity in services, retail sales...
EURAUD - 24h expiry
There is no clear indication that the upward move is coming to an end.
Although we remain bullish overall, a correction is possible with plenty of room to move lower without impacting the trend higher.
The RSI is trending higher.
Risk/Reward would be poor to call a buy from current levels.
A move through 1.6450 will confirm the bullish...
The British pound is unchanged on Thursday, trading at 1.2741 in Europe. We could see some movement from the pound in the North American session following the release of the US inflation report. On Friday, the UK releases GDP, which is expected to show a 0.2% gain in November, after a 0.3% decline a month earlier.
US inflation fell dramatically in 2023 and we'll...
GER40 - 24h expiry
Short term bias has turned positive.
Levels close to the 50% pullback level of 16724 found buyers.
The primary trend remains bullish.
We look to buy dips.
Prices have reacted from 16444.
We look to Buy at 16725 (stop at 16645)
Our profit targets will be 16925 and 16985
Resistance: 16885 / 16962 / 17004
Support: 16790 / 16724 /...
NZDUSD - 24h expiry
Price action has continued to trend strongly lower and has stalled at the previous support near 0.6215.
Indecisive price action has resulted in sideways congestion on the intraday chart.
Risk/Reward would be poor to call a buy from current levels.
A move through 0.6250 will confirm the bullish momentum.
The measured move target is 0.6300.
...
The Japanese yen is down sharply on Wednesday. In the North American session, USD/JPY is trading at 145.74, up 0.86%.
Japan's wage growth was a major disappointment in November, with a meager gain of 0.2%. This follows the October reading of 1.5% which was also the estimate. This marked the lowest gain since December 2021. The weak wage data will support the Bank...
FR40EUR - 24h expiry
There is no clear indication that the downward move is coming to an end.
Risk/Reward would be poor to call a sell from current levels.
Short term RSI is moving lower.
A move through 7400 will confirm the bearish momentum.
The measured move target is 7350.
We look to Sell at 7450 (stop at 7490)
Our profit targets will be 7350 and 7330...
AU200AUD - 24h expiry
Buying pressure from 7494 resulted in prices rejecting the dip.
We are trading at oversold extremes.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
We look for a temporary move lower.
Further upside is expected although we prefer to buy into dips close to the...
The Australian dollar is in negative territory on Tuesday. In the North American session, AUD/USD is trading at 0.6685, down 0.51%.
Australia's retail sales sparkled in November but the strong rebound wasn't reflected in the Australian dollar. Retail sales climbed 2.0% m/m in November, blowing past the estimate of 1.2% and recovering from a revised 0.4% decline...
UK100GB - 24h expiry
The correction lower is assessed as being complete.
Further upside is expected.
Short term RSI has turned positive.
A move through 7725 will confirm the bullish momentum.
The measured move target is 7775.
We look to Buy at 7710 (stop at 7670)
Our profit targets will be 7810 and 7830
Resistance: 7725 / 7750 / 7775
Support: 7700 / 7685...
SPX500USD - 24h expiry
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
A Doji style candle has been posted from the base.
The primary trend remains bullish.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
We look to buy dips....
The Japanese yen has started the week with slight gains and is trading at 144.39 in the European session, up 0.16%. It was a rough week for the yen, which declined 2.5% against the US dollar, which has looked sharp against most of the majors since New Year's.
US nonfarm payrolls ended 2023 on a strong note. The economy added 216,000 jobs in December, compared to...
US500 - Intraday
Previous support level of 4700 broken.
Short term bias has turned negative.
We are trading at oversold extremes.
We look for a temporary move lower.
Preferred trade is to sell into rallies.
- We look to Sell at 4700 (stop at 4729)
Our profit targets will be 4645 and 4615
Resistance: 4750 / 4820 / 4920
Support: 4610 / 4500 / 4415
Risk...
The euro is in negative territory on Friday. In the European session, EUR/USD is trading at 1.0908, down 0.33%.
Eurozone inflation has been falling and dropped to 2.4% y/y in November, within striking distance of the 2% target. The downward trend reversed itself in December, as CPI jumped to 2.9%, just below the consensus estimate of 3.0%. This was the first...
EURCHF - Intraday
Price action continued to range between key support & resistance (0.9255 - 0.9323) and we expect this to continue.
The bias is to break to the downside.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 0.9323.
There is no clear indication that the downward move is coming to an end.
We look to Sell at 0.9323 (stop...
NZDJPY - 24h expiry
The trend of lower highs is located at 90.50.
We expect a reversal in this move.
Risk/Reward would be poor to call a sell from current levels.
A move through 89.75 will confirm the bearish momentum.
The measured move target is 89.50.
We look to Sell at 90.30 (stop at 90.70)
Our profit targets will be 89.30 and 89.05
Resistance: 90.30 /...
The British pound has edged higher on Thursday. In the North American session, GBP/USD is trading at 1.2698, up 0.27%.
UK Services Final PMI was a bright note on Thursday. The PMI rose to 53.4 in December, up from 50.9 in November and above the preliminary estimate of 52.7. This marked a second straight expansion after posting three consecutive declines. This was...
