The Australian dollar is lower on Wednesday. In the European session, AUD/USD is trading at 0.6408, down 0.28%.
The US releases the August inflation report later today. CPI is projected to increase in August to 3.6% y/y, following a 3.2% gain in July. On a monthly basis, the consensus estimate stands at 0.6%, higher than the 0.2% gain in July. Core CPI is...
EURCHF - 24h expiry
The primary trend remains bearish.
0.9601 has been pivotal.
0.9603 has been pivotal.
Although the market broke to the upside in early trade, bespoke resistance at 0.9585 capped the gains.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 0.9600.
We look to Sell at 0.9597 (stop at 0.9617)
Our profit targets will...
HS50 - 24h expiry
Buying pressure from 17822 resulted in prices rejecting the dip.
The current move higher is expected to continue.
With the Ichimoku cloud resistance above we expect 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 sell...
The British pound is in negative territory on Tuesday. In the European session, GBP/USD is trading at 1.2470, down 0.31%.
Will the real UK labour market please stand up? The UK labour market is showing signs of weakening, while at the same time wage growth grew at a record pace, according to today's employment release. The economy shed 207,000 jobs in the three...
EURJPY - 24h expiry
Posted a Bullish Hammer Bottom on the Daily chart.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
The hourly chart technicals suggests further downside before the uptrend returns.
We therefore, prefer to fade into the dip with a tight stop in anticipation of a...
NZDUSD - 24h expiry
Price action looks to be forming a bottom.
The RSI is trending higher.
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 0.6000.
We look to Buy at 0.5900 (stop at 0.5868)
Our profit targets will be 0.5980 and 0.6000
Resistance: 0.5950 /...
The British pound has started the week with strong gains. In the North American session, GBP/USD is trading at 1.2537, up 0.61%. The pound has been on a nasty slide, falling as much as 300 basis points since August 31st.
The volatility could continue for the pound on Tuesday, with the release of key employment data. The labour market is showing signs of slowing...
AUDUSD - 24h expiry
A Doji style candle has been posted from the base.
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 sell into...
EURCHF - Intraday
Our short term bias remains negative.
The primary trend remains bearish.
We are trading at oversold extremes.
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.
20 1day EMA is at 0.9566.
We look to Sell at 0.9568 (stop...
The Canadian dollar is steady on Friday in what should be a busy day. In the European session, USD/CAD is trading at 1.3670, down 0.12%. Canada releases the August job report later today, with the markets braced for a decrease of 6,400 in employment.
The US dollar has been on a tear against the major currencies since mid-July. The Canadian dollar has slumped,...
EURJPY - Intraday
Indecisive price action has resulted in sideways congestion on the intraday chart.
A Doji style candle has been posted from the base.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
The hourly chart technicals suggests further downside before the uptrend returns....
NIK225 - 24h expiry
Selling posted in Asia.
The current move lower is expected to continue.
Our short term bias remains positive.
We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
Weekly pivot is at 32495.
We look to Buy at 32505 (stop at 32295)
Our profit targets will be 33025 and 33125
Resistance:...
The British pound has extended its losses on Thursday. In the North American session, GBP/USD is trading at 1.2472, down 0.28%. Earlier, the pound touched a low of 1.2445, its lowest level since June 8th.
The pound has been unable to find its footing and has posted five losing sessions in the past six, falling 250 basis points during that span.
UK house prices...
FRA40 - 24h expiry
There is no clear indication that the downward move is coming to an end.
Further downside is expected.
Risk/Reward would be poor to call a sell from current levels.
A move through 7170 will confirm the bearish momentum.
The RSI is trending lower.
We look to Sell at 7230 (stop at 7280)
Our profit targets will be 7110 and 7080...
GBPAUD - 24h expiry
There is no clear indication that the downward move is coming to an end.
We expect a reversal in this move.
A move through 1.9600 will confirm the bearish momentum.
Short term RSI has turned negative.
The measured move target is 1.9400.
We look to Sell a break of 1.9600 (stop at 1.9750)
Our profit targets will be 1.9480 and 1.9450...
USD/CAD is trading quietly in Europe at 1.3651, up 0.06%. I expect to see stronger movement in the North American session, with the Bank of Canada making its rate announcement and the US releasing the ISM Services PMI which is expected to show little change.
The Bank of Canada is virtually certain to hold rates at today's meeting, with just a 6% probability of a...
USDCHF - 24h expiry
Broken out of the channel formation to the upside.
Short term bias has turned positive.
A later dip lower was met with further buying interest and prices settled higher to post a positive day.
A lower correction is expected.
We look to buy dips.
20 4hour EMA is at 0.8862.
We look to Buy at 0.8862 (stop at 0.8834)
Our profit targets...
EURAUD - 24h expiry - We look to Sell a break of 1.6775 (stop at 1.6825)
We expect a reversal in this move.
A move through 1.6775 will confirm the bearish momentum.
Pivot support is at 1.6700.
The measured move target is 1.6600.
Pivot resistance is at 1.6850.
Our profit targets will be 1.6655 and 1.6620
Resistance: 1.6850 / 1.6875 / 1.6900
Support: 1.6800...
