EURAUD - 24H expiry
The primary trend remains bullish.
The selloff has posted an exhaustion count on the daily chart.
Preferred trade is to buy on dips.
Price action looks to be forming a bottom.
Bespoke support is located at 1.7500.
We look to Buy at 1.7500 (stop at 1.7450)
Our profit targets will be 1.7700 and 1.7730
Resistance: 1.7630 / 1.7680 /...
The British pound posted gains earlier but has failed to consolidate. In the European session, GBP/USD is trading at 1.3395, up 0.03% on the day. The pound has gained 1.1% this week and earlier today rose as high as 1.3468, its highest level since Feb. 2022.
UK inflation jumped to 3.5% y/y in April, up sharply from 2.6% in March and above the market estimate of...
NZDUSD - 24h expiry
Indecisive price action has resulted in sideways congestion on the intraday chart.
Pivot resistance is at 0.5925.
A move through 0.5875 will confirm the bearish momentum.
The measured move target is 0.5750.
Risk/Reward would be poor to call a sell from current levels.
We look to Sell at 0.5925 (stop at 0.5975)
Our profit targets will be...
The Canadian dollar continues to have a quiet week. In the North American session, USD/CAD is trading at 1.3920, down 0.21% on the day.
Canada released the April inflation report, which indicated that headline and core inflation were moving in opposite directions. Headline CPI dropped sharply to 1.7% y/y, down from 2.3% but shy of the market estimate of 1.6%....
NZDJPY - 24h expiry
Price action looks to be forming a top.
Short term RSI is moving higher.
We look for a temporary move higher.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 86.35.
We look to Sell at 86.35 (stop at 86.65)
Our profit targets will be 85.30 and 85.00
Resistance: 86.30 / 86.80 / 87.20
Support: 85.30 / 85.00 /...
The euro is sharply higher on Monday. In the North American session, EUR/USD is trading at 1.1250, up 0.79% on the day.
Eurozone headline inflation was confirmed at 2.2% y/y and 0.6% m/m in April, unchanged from the preliminary estimates. The core rate was also confirmed at 2.7% y/y and 1% m/m. Services inflation rose to 3.9% from 3.5%.
The European Central Bank...
The New Zealand dollar is in positive territory on Friday. In the European session, NZD/USD is trading at 0.5906, up 0.54% on the day.
New Zealand's two-year inflation expectations climbed to 2.29% in the second quarter, up from 2.06% in Q1, its highest level since last May. The survey also predicted that one-year inflation expectations would rise to 2.41% in Q2,...
NZDUSD - 24h expiry
Indecisive price action has resulted in sideways congestion on the intraday chart.
Pivot support is at 0.5850.
Risk/Reward would be poor to call a buy from current levels.
A move through 0.5900 will confirm the bullish momentum.
The measured move target is 0.5975.
We look to Buy at 0.5850 (stop at 0.5800)
Our profit targets will be...
New Zealand releases inflation expectations for the first quarter on Friday. Inflation expectations can manifest into actual inflation and are considered a market-mover. Over the past three quarters, inflation expectations have hovered around the 2% level, which is the mid-point of the Reserve Bank of New Zealand's target band of 1%-3%. However, inflation...
EURAUD - 24h expiry
The medium term bias remains bearish.
Bullish divergence is expected to support prices.
Preferred trade is to sell into rallies.
Risk/Reward would be poor to call a sell from current levels.
Bespoke resistance is located at 1.7500.
We look to Sell at 1.7500 (stop at 1.7560)
Our profit targets will be 1.7260 and 1.7230
Resistance:...
The Australian dollar has declined on Wednesday. In the North American session, AUD/USD is trading at 0.6441, down 0.45% on the day. This follows the Australian dollar's massive gains of 1.5% a day earlier.
Australia's wage growth accelerated in the first quarter. Annually, the Wage Price index gained 3.4%, up from 3.2% in Q4 2024 and above the market estimate of...
GBPAUD - 24h expiry
The primary trend remains bullish.
The selloff has posted an exhaustion count on the daily chart.
Price action looks to be forming a bottom.
Preferred trade is to buy on dips.
Bespoke support is located at 2.0540.
We look to Buy at 2.0540 (stop at 2.0480)
Our profit targets will be 2.0765 and 2.0790
Resistance: 2.0700 / 2.0760 /...
The Japanese yen has started the week with sharp losses. USD/JPY is trading at 148.18, up 1.9% on the day. Earlier, the yen strengthened to 148.59, its strongest level since April 3.
The US and China have reached an agreement to slash tariffs on each other's products for 90 days. This would be a major de-escalation in the bruising tariff war between the world's...
The Canadian dollar is steady on Friday, after a two-day slid in which the loonie declined by 1%. In the North American session, USD/CAD is trading at 1.3911, down 0.09% on the day. On the data calendar, Canada released the employment report and there are no US economic releases.
The April employment report didn't show much change and the Canadian dollar has...
NZDUSD - 24h expiry
Indecisive price action has resulted in sideways congestion on the intraday chart.
Momentum is flat, highlighting the lack of clear direction.
Risk/Reward would be poor to call a buy from current levels.
A move through 0.5950 will confirm the bullish momentum.
The measured move target is 0.6025.
We look to Buy at 0.5900 (stop at 0.5850)...
NZDJPY - 24h expiry
The primary trend remains bearish.
The rally has posted a correction count on the daily chart.
Price action looks to be forming a top.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 85.95.
We look to Sell at 85.95 (stop at 86.20)
Our profit targets will be 85.05 and 84.85
Resistance: 86.10 / 86.40 /...
The Japanese yen is in negative territory on Wednesday, after a three-day rally which saw it gain 2% against the US dollar. In the European session, USD/JPY is trading at 143.29, up 0.61% on the day.
The Bank of Japan releases the minutes of its March meeting on Thursday. At the meeting, the BoJ held the key policy rate at 0.5% in a unanimous vote. Members...
EURAUD - 24h expiry
The primary trend remains bullish.
The selloff has posted an exhaustion count on the daily chart.
Preferred trade is to buy on dips.
Setbacks should be limited to yesterday's low.
Bespoke support is located at 1.7500.
We look to Buy at 1.7500 (stop at 1.7440)
Our profit targets will be 1.7740 and 1.7815
Resistance: 1.7600 / 1.7700 /...
