The Japanese yen is lower on Monday. In the European session, USD/JPY is trading at 152.63, up 0.22% at the time of writing. The yen weakened as far as 153.88 but has pared most of the losses.
The new trading week has barely begun but the markets are busy digesting the drama out of Tokyo. The snap parliamentary election over the weekend was a disaster for new...
The Japanese yen is showing limited movement on Friday. In the European session, USD/JPY is trading at 151.94, up 0.09%.
Tokyo Core CPI, a leading indicator of inflation trends in Japan, fell to 1.8% y/y in October, down from 2% in September and just above the market estimate of 1.7%. This marked a second straight deceleration and was the lowest level since...
ASX200 - 24h expiry
Indecisive price action has resulted in sideways congestion on the intraday chart.
Momentum is flat, highlighting the lack of clear direction.
Further downside is expected.
Risk/Reward would be poor to call a sell from current levels.
A move through 8200 will confirm the bearish momentum.
We look to Sell at 8240 (stop at 8280)
Our...
US500 - 24h expiry
Broken out of the wedge to the downside.
The formation has a measured move target of 5773.
An overnight positive theme in Equities has led to a higher open this morning.
Expect trading to remain mixed and volatile.
The sequence for trading is lower lows and highs.
We look to Sell at 5847 (stop at 5865)
Our profit targets will be 5802 and...
XAUUSD - 24h expiry
Price action resulted in a new all-time high at 2753.
Daily signals for sentiment are at overbought extremes.
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
20 1hour EMA is at 2743.
There is no indication that the rally is coming to an end.
We look to Buy at...
The Japanese yen has posted sharp losses on Wednesday. In the European session, USD/JPY is trading at 152.67, up 1.06% at the time of writing. The yen is down 2.1% this week and has plunged 6.3% in October.
The International Monetary Fund slashed its 2024 growth forecast for Japan to just 0.3%, down sharply from the 0.7% forecast in June. This is the lowest...
NZDUSD - 24h expiry
There is no clear indication that the downward move is coming to an end.
Although we remain bearish overall, a correction is possible without impacting the trend lower.
Risk/Reward would be poor to call a sell from current levels.
A move through 0.6025 will confirm the bearish momentum.
The measured move target is 0.5075.
We look to Sell...
The euro is showing limited movement on Tuesday. In the North American session, EUR/USD is trading at 1.0806, down 0.07% on the day. Earlier, the euro fell as low as 1.0800, its lowest level since Aug. 2.
The European Central Bank has been aggressive in its rate-cutting cycle and has trimmed 75 basis points this year. The key interest rate has been brought down...
NIK225 - 24h expiry
Price action looks to be forming a bottom.
A Doji style candle has been posted from the base.
This is positive for sentiment and the uptrend has potential to return.
We look for a temporary move lower.
Further upside is expected although we prefer to set longs at our bespoke support levels at 38870, resulting in improved risk/reward.
We...
The euro has edged lower on Monday. In the North American session, EUR/USD is trading at 1.0838, down 0.24% on the day.
The European Central Bank lowered its key interest rate last week by a 25 basis points to 3.25%, the first back-to-back rate cuts since December 2011. The rate cut was the third time the ECB has lowered rates this year, as it has been aggressive...
SPX500USD - 24H EXPIRY
Price action continues to trade around the all-time highs.
Posted mild net daily gains but all trading confined to the previous days range, an indecisive Inside Day.
The 261.8% Fibonacci extension is located at 5901 from 5682 to 5766.
Due to an Ending Wedge formation, we continue to treat extended gains with caution.
Reverse trend line...
The euro can’t find its footing and has tumbled 2.7% in October. EUR/USD has stabilized on Friday and is trading at 1.0835 in the European session, up 0.05%. On Thursday, the euro dropped as low as 1.0810, its lowest level since August 2.
The European Central Bank didn’t surprise anybody with a quarter-point rate cut on Thursday, the first back-to-back rate cuts...
USDCHF - Intraday
Our short term bias remains positive.
The sequence for trading is higher highs and lows.
Previous resistance at 0.8635 now becomes support.
We look to buy dips.
Risk/Reward would be poor to call a buy from current levels.
20 1hour EMA is at 0.8641.
We look to Buy at 0.8642 (stop at 0.8614)
Our profit targets will be 0.8712 and 0.8727...
AU200AUD - 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.
Risk/Reward would be poor to call a buy from current levels.
A move through 8375 will confirm the bullish momentum.
The measured move...
EURUSD - 24H EXPIRY
Trades at the lowest level in 48 days.
Bespoke support is located at 1.0875.
We have a 78.6% Fibonacci pullback level of 1.0870 from 1.0778 to 1.1202.
Selling posted in Asia.
Dip buying offers good risk/reward.
The medium term bias is neutral.
We look to Buy at 1.0875 (stop at 1.0825)
Our profit targets will be 1.1037 and 1.1050...
The British pound has finally showed some movement on Wednesday after a week of limited movement. In the European session, GBP/USD is trading at 1.2992, down 0.62% on the day. The pound fell below the symbolic 1.30 level for the first time since August 20.
The UK inflation report for September was projected to hit a milestone and fall below the BoE’s 2% target,...
The British pound has been showing limited movement for over a week. In Tuesday’s North American session, GBP/USD is trading at 1.3086, up 0.13% on the day.
The Bank of England has largely won the battle against inflation, which has fallen from double digits at its peak to just 2.2% in August and July. Inflation is expected to dip to 1.9% in September thanks to...
The Canadian dollar can’t find its footing and is trading at nine-week low against the US dollar. In the North American session, USD/CAD is trading at 1.3792 at the time of writing, up 0.21%. The Canadian dollar has recorded eight straight losing sessions and is down 1.9% in October.
The week ended on a high note, as Canada’s employment growth jumped by 46.7...
