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...
NZDUSD - 24h expiry
Price action looks to be forming a top.
An Evening Star formation has been posted at the high.
This is negative for sentiment and the downtrend has potential to return.
We look for a temporary move higher.
Further downside is expected although we prefer to sell into rallies close to the 0.5657 level.
We look to Sell at 0.5657 (stop at...
The euro has started the week with sharp gains. In the European session, EUR/USD is currently trading at 1.0403, up 0.91% on the day.
Germany's economy may not be in great shape. but inflation has been moving higher and the trend is expected to continue when December CPI is released later today. Inflation rose from 2% to 2.2% in November, its highest level in...
EURNZD - 24h expiry
Short term bias has turned negative.
We are trading at overbought extremes.
Preferred trade is to sell into rallies.
Risk/Reward would be poor to call a sell from current levels.
50 4hour EMA is at 1.8398.
Previous support at 1.8400 now becomes resistance.
We look to Sell at 1.8389 (stop at 1.8445)
Our profit targets will be 1.8249 and...
The euro has stabilized on Friday. In the European session, EUR/USD is currently trading at 1.0296, up 0.3% on the day. The euro fell as much as 1.2% a day earlier and fell below the 1.03 line for the first time since Nov. 2022.
The eurozone economy wasn't exactly on fire in 2024. The Ukraine-Russia war led to increases in gas and oil prices, millions of war...
AUDUSD - 24h expiry
Broken out of the channel formation to the downside.
Trades at the lowest level in 26-months.
Buying posted in Asia.
Bespoke resistance is located at 0.6246.
The previous swing high is located at 0.6246.
We look to Sell at 0.6246 (stop at 0.6276)
Our profit targets will be 0.6166 and 0.6146
Resistance: 0.6246 / 0.6271 /...
As the global markets reopen have the New Years' Day, Japanese markets are closed for a holiday. It's a very light economic calendar today, with no Japanese releases and only one US tier event - unemployment claims. In the European session, USD/JPY is currently trading at 157.12, down 0.12% on the day. We can expect a quiet day for the yen.
December was...
USDCHF - 24h expiry
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.
There is no clear indication that the upward move is coming to an end.
Offers ample risk/reward to buy at the market.
20 4hour EMA is at 0.9000.
We look to Buy at 0.9001 (stop...
The Japanese yen is showing little movement on Christmas Day. Japanese markets are open but with most global markets closed for the holiday, the currency markets will be very quiet today. In the European session, USD/JPY is trading at 157.29, up 0.08% on the day.
Japanese inflation indicators have been heading higher and the upswing was repeated on Wednesday as...
The Japanese yen is showing limited movement on Tuesday. In the North American session, USD/JPY is trading at 157.33, up 0.11% on the day at the time of writing.
The yen is having a dreadful time as it continues to lose ground against the strong US dollar. Since Oct. 1, the yen has plunged 9.5% and the yen's woes could force the Bank of Japan to intervene on the...
The Australian dollar has posted losses on Monday. Early in the North American session, AUD/USD is trading at 0.6227, down 0.31% at the time of writing.
It's a very light calendar week, with the Christmas holiday just around the corner. The Reserve Bank of Australia releases the minutes of this month's meeting on Tuesday, which is the sole Australian event this...
The Canadian dollar is showing limited movement on Friday. In the European session, USD/CAD is trading at 1.4384, down 0.11% at the time of writing. On Thursday, the Canadian dollar fell to its lowest level since March, touching 1.4435.
Canada retail sales have risen for four consecutive months and the trend is expected to continue today, with a market estimate...
NZDUSD - 24h expiry
Price action looks to be forming a bottom.
A Doji style candle has been posted from the base.
A higher correction is expected.
The bias is still for lower levels and we look for any gains to be limited.
Preferred trade is to sell into rallies.
We look to Sell at 0.5704 (stop at 0.5736)
Our profit targets will be 0.5623 and 0.5520...
The Japanese yen continues its rapid descent and is sharply lower on Wednesday. In the North American session, USD/JPY is trading at 156.82, up 1.3% on the day. Earlier, the yen weakened to 157.14, its lowest level against the US dollar since July 22.
The Bank of Japan didn't have any surprises up its sleeve on Thursday as it maintained the benchmark interest...
CHN50 - 24h expiry
Indecisive price action has resulted in sideways congestion on the intraday chart.
Buying pressure from 13255 resulted in prices rejecting the dip.
The current move higher is expected to continue.
Preferred trade is to sell into rallies.
Further downside is expected although we prefer to sell into rallies close to the 13705 level.
We look...
The New Zealand dollar has declined sharply on Wednesday. In the North American session, NZD/USD is trading at 0.5685, down 1.2% on the day. The New Zealand dollar has been in freefall, plunging 11.6% since Oct. 1.
New Zealand's economy is expected to contract in the third quarter by 0.4% q/q, after a 0.2% decline in Q2. If the economy contracted for...
NZDUSD - 24h expiry
Price action has continued to trend strongly lower and has stalled at the previous support near 0.5750.
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 0.5775 will confirm the bullish momentum.
We look to Buy at 0.5750 (stop at...
The Canadian dollar continues to lose ground. In the North American session, USD/CAD is trading at 1.4315, up 0.48% at the time of writing. The Canadian dollar has declined 2.2% in December and is trading at its lowest level since mid-March.
Canada's inflation eased to 1.9% in November, down from 2% in October and shy of the market expectations of 2%. However,...
