EURNZD - 24h expiry
Daily signals are bearish.
Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 1.7520.
Expect trading to remain mixed and volatile.
We look to Sell at 1.7518 (stop at 1.7578)
Our profit...
NZDUSD - 24h expiry
There is no clear indication that the downward move is coming to an end.
Short term RSI is moving lower.
Further downside is expected.
Risk/Reward would be poor to call a sell from current levels.
A move through 0.6225 will confirm the bearish momentum.
We look to Sell at 0.6260 (stop at 0.6288)
Our profit targets will be 0.6190 and...
USDJPY - 24h expiry
The medium term bias remains bearish.
Trading within the Channel formation.
The sequence for trading is lower lows and highs.
Risk/Reward would be poor to call a sell from current levels.
Preferred trade is to sell into rallies.
We look to Sell at 143.25 (stop at 143.85)
Our profit targets will be 141.75 and 141.35
Resistance: 143.25...
The euro has steadied on Wednesday after sustaining sharp losses a day earlier. In the European session, EUR/USD is trading at 1.0932, down 0.08% and its lowest level since December 21.
The US dollar has been struggling in recent weeks but came flying out of the gates on Tuesday, the first trading day of the New Year. The euro fell 0.88% against the dollar, its...
ASX200 - 24h expiry
We are trading at overbought extremes.
A Doji style candle has been posted from the base.
Our overall sentiment remains bullish looking for higher levels.
This is positive for sentiment and the uptrend has potential to return.
Preferred trade is to buy on dips.
We look to Buy at 7578 (stop at 7528)
Our profit targets will be 7698 and...
The euro is down sharply on Tuesday. In the European session, EUR/USD is trading at 1.0969, down 0.62%. The euro hasn't posted a gain since Wednesday.
The US dollar has hit a rough patch on market expectations that the Federal Reserve will cut rates up to six times this year and that the current rate-tightening cycle is over. The euro has pummelled the US dollar...
Gold - 24h expiry
Price action continues to trade around the all-time highs.
Trading volume is increasing.
The overnight dip has been bought into and there is scope for further bullish pressure going into this morning.
20 4hour EMA is at 2068.3.
Preferred trade is to buy on dips.
There is no clear indication that the upward move is coming to an end.
We...
US100 - Intraday
We are trading at overbought extremes.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
A lower correction is expected.
The sequence for trading is higher highs and lows.
We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
We look to Buy at...
The euro is calm in Friday trade. In the European session, EUR/USD is trading at 1.1053, down 0.08%.
Spain released the December inflation report today, with CPI dipping to 3.1% y/y, down from 3.2% in November. This was better than expected as the consensus estimate stood at 3.4%. The reading was the lowest rate since August, with the drop attributed to lower...
EURAUD - 24h expiry
Price action has continued to trend strongly lower and has stalled at the previous support near 1.6150.
Price action looks to be forming a bottom. Further upside is expected.
Risk/Reward would be poor to call a buy from current levels.
A move through 1.6225 will confirm the bullish momentum.
We look to Buy at 1.6190 (stop at 1.6154)...
The euro has posted strong gains on Wednesday. In the North American session, EUR/USD is trading at 1.1121, up 0.72%.
The US dollar is under pressure this week as we're seeing a risk-on mood in global markets. The week between Christmas and New Year's is normally quiet, with a very light data calendar. However, investors are anticipating the Federal Reserve to...
UK100 - 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 7760 will confirm the bullish momentum.
The measured move target...
CHN50 - 24h expiry
Buying pressure from 11103 resulted in prices rejecting the dip.
The current move higher is expected to continue.
The bias is still for lower levels and we look for any gains to be limited.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Further downside is expected although we prefer to...
The Japanese yen continues to have a quiet week. In the European session, USD/JPY is trading at 142.54, up 0.12%.
The Bank of Japan's summary of opinions from the December meeting was released earlier today. That meeting was somewhat of a disappointment to the markets, as there were expectations of a move after senior BoJ members hinted prior to the meeting that...
WTICOUSD - 24h expiry
Previous resistance level of 75.34 broken.
Intraday, and we are between bespoke support and resistance 73.51-77.10.
The sequence for trading is higher highs and lows.
There is scope for mild selling at the open but losses should be limited.
The medium term bias remains bullish.
We look to Buy at 75.00 (stop at 74.20)
Our profit...
The Japanese yen is showing little movement on Tuesday. In the European session, USD/JPY is trading at 142.39, down 0.04%.
Japanese inflation indicators have been heading lower. Last week, Core CPI, which excludes fresh food but includes fuel costs, dropped in November from 2.9% to 2.5%. On Tuesday, the Bank of Japan's Core CPI index followed suit and declined to...
The British pound is drifting on Friday. In the European session, GBP/USD is trading at 1.2701, up 0.08%.
UK retail sales jumped 1.3% in November m/m, bouncing back from 0% in October and beating the consensus estimate of 0.4%. This was the sharpest pace of growth since January and the increase was felt in all sub-sectors. Yearly, retail sales edged up 0.1%,...
USDCHF - Intraday
Yesterday's Marabuzo is located at 0.8594.
There is no clear indication that the downward move is coming to an end.
The lack of interest is a concern for bulls.
We are trading at oversold extremes.
We look for a temporary move higher.
We look to Sell at 0.8594 (stop at 0.8620)
Our profit targets will be 0.8529 and 0.8514
Resistance:...
