UK100GB - 24h expiry
Price action looks to be forming a bottom.
Price action has continued to trend strongly lower and has stalled at the previous support near 7250.
We expect a reversal in this move.
Risk/Reward would be poor to call a buy from current levels.
A move through 7350 will confirm the bullish momentum.
We look to Buy at 7280 (stop at 7230)...
NZDUSD - 24h expiry
Price action looks to be forming a bottom.
Risk/Reward would be poor to call a buy from current levels.
A move through 0.5850 will confirm the bullish momentum.
Short term RSI has turned positive.
The measured move target is 0.5900.
We look to Buy at 0.5820 (stop at 0.5790)
Our profit targets will be 0.5895 and 0.5900
Resistance:...
The Japanese yen is drifting on Monday after pushing the US dollar back below 150 on Friday. In the European session, USD/JPY is trading at 149.71, up 0.05%.
The Bank of Japan holds its two-day meeting beginning on Monday and there's plenty of anticipation around the meeting. BoJ meetings were once dreary affairs that barely made the news, but that has changed in...
Gold - 24h expiry - We look to Buy at 1994 (stop at 1979)
Previous resistance level of 1997 broken.
A Fibonacci confluence area is located at 2033.
Due to an Ending Wedge formation, we continue to treat extended gains with caution.
The Marabuzo level from the 27.10 is located at 1995.
The previous swing high is located at 1994.
Preferred trade is to buy on...
US500 - Intraday
Price action has formed an expanding wedge formation.
The medium term bias remains bullish.
Trend line support is located at 4145.
Trend line resistance is located at 4345.
A break of 4172 is needed to confirm follow through bullish momentum.
We look to Buy a break of 4172 (stop at 4132)
Our profit targets will be 4272 and 4292...
The Japanese yen has steadied after three straight days of losses. In the European session, USD/JPY is trading at 150.11, down 0.19%.
Tokyo Core CPI climbed 2.7% y/y in October, above 2.5% in September which was also the consensus estimate. The index, which excludes fresh food is a key indicator of inflation trends in Japan and is closely monitored by the Bank of...
UK100GB - Intraday
Posted a Double Bottom formation.
A break of the recent low at 7328 should result in a further move lower.
Short term bias is bearish.
Trading within a Corrective Channel formation.
The lack of interest is a concern for bulls.
The bias is to break to the downside.
We look to Sell a break of 7319 (stop at 7369)
Our profit targets will...
NZDJPY - 24h expiry
There is no clear indication that the upward move is coming to an end.
A higher correction is expected.
Risk/Reward would be poor to call a sell from current levels.
A move through 87.00 will confirm the bearish momentum.
The measured move target is 86.25.
We look to Sell at 87.42 (stop at 87.82)
Our profit targets will be 86.42 and...
Gold - 24h expiry
The medium term bias remains bullish.
A Fibonacci confluence area is located at 2033.
A bullish reverse Head and Shoulders has formed.
Reverse trend line support comes in at 1974.
Preferred trade is to buy on dips.
Intraday signals are far from strong.
We look to Buy at 1974 (stop at 1963)
Our profit targets will be 1997 and 2023...
NZDUSD - 24h expiry
There is no clear indication that the downward move is coming to an end.
Momentum is flat, highlighting the lack of clear direction.
Further downside is expected.
A move through 0.5800 will confirm the bearish momentum.
The measured move target is 0.5750.
We look to Sell at 0.5860 (stop at 0.5892)
Our profit targets will be 0.5780 and...
GBPUSD - 24h expiry
We are trading at oversold extremes.
A higher correction is expected.
Indecisive price action has resulted in sideways congestion on the intraday chart.
The hourly chart technicals suggests further downside before the uptrend returns.
Preferred trade is to buy on dips.
We look to Buy at 1.2095 (stop at 1.2045)
Our profit targets will...
CN50USD - 24h expiry
Buying pressure from 11548 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...
EURJPY - 24h expiry
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
We are trading at overbought extremes.
A lower correction is expected.
Short term bias has turned positive.
We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
We look to Buy at 158.95 (stop...
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.
Risk/Reward would be poor to call a buy from current levels.
A move through 1.6825 will confirm the bullish momentum.
Short term RSI is...
DE30EUR - 24h expiry
We are trading at oversold extremes.
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
Bullish divergence can be seen on the daily (the chart makes a lower low while the oscillator makes a higher low), often a signal of exhausted bearish momentum, or at least a correction higher.
A Doji...
US100 - Intraday
Levels close to the 61.8% pullback level of 15365 found sellers.
There is no clear indication that the downward move is coming to an end.
A Fibonacci confluence area is located at 14546.
Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 14955, resulting in improved risk/reward.
The medium-term...
DE30EUR - 24h expiry
Our short-term bias remains negative.
There is no clear indication that the downward move is coming to an end.
15100 has been pivotal.
Bespoke resistance is located at 15100.
The preferred trade is to sell into rallies.
20 4-hour EMA is at 15080.
We look to Sell at 15098 (stop at 15198)
Our profit targets will be 14848 and 14788...
NZDUSD - 24h expiry
We have a 38.2% Fibonacci pullback level of 0.5907 from 0.6055 to 0.5815.
The primary trend remains bearish.
Preferred trade is to sell into rallies.
Prices have reacted from 0.5815.
We look for a temporary move higher.
50 4hour EMA is at 0.5913.
We look to Sell at 0.5907 (stop at 0.5933)
Our profit targets will be 0.5842 and 0.5822...
