USDCHF - Intraday
Our short-term bias remains positive.
There is no clear indication that the upward move is coming to an end.
We are trading at oversold extremes.
We look to buy dips.
Bespoke support is located at 0.8700.
We look to Buy at 0.8711 (stop at 0.8675)
Our profit targets will be 0.8801 and 0.8821
Resistance: 0.8775 / 0.8800 /...
AUDUSD - Intraday
Our short-term bias remains negative.
Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end.
The bearish engulfing candle on the 4-hour chart is negative for sentiment.
Price action has posted a Doji candle and is neutral for the short-term sentiment.
We look for a...
The British pound showed some strength earlier on Thursday but reversed directions and lost ground after the US inflation report. In the North American session, GBP/USD is trading at 1.2725, up 0.05%.
The US inflation report was somewhat of a mix, but most important was that both headline and core inflation were within expectations. This meant that the reaction...
NZDJPY - 24h expiry
Price action looks to be forming a bottom.
We expect a reversal in this move.
Previous resistance, now becomes support at 87.25.
Further upside is expected.
A move through 87.75 will confirm the bullish momentum.
We look to Buy at 87.00 (stop at 86.60)
Our profit targets will be 88.00 and 88.25
Resistance: 87.75 / 88.00 /...
GER40 - 24h expiry
A break of bespoke resistance at 16000, and the move higher is already underway.
Trading close to the psychological 16000 level.
16000 has been pivotal.
Prices have reacted from 15704.
Daily signals are bullish.
The bias is to break to the upside.
We look to Buy a break of 16013 (stop at 15913)
Our profit targets will be 16263 and...
NZDJPY - 24h expiry
Price action has stalled at good support levels and currently trades just above here (86.35).
Price action looks to be forming a bottom.
Risk/Reward would be poor to call a buy from current levels.
Dips continue to attract buyers.
A move through 87.25 will confirm the bullish momentum.
We look to Buy at 86.40 (stop at 85.90)
Our profit...
The New Zealand dollar is showing limited movement on Wednesday, trading at 0.6060 in the European session.
Like most major central banks, the Reserve Bank of New Zealand has been waging a long and tough battle against inflation by raising interest rates. CPI fell to 6.0% in the second quarter, down from 6.7%. That's certainly good news, but let's remember that...
FRA40 - 24h expiry
The move higher is mixed and volatile, common in corrective sequences.
We expect a reversal in this move.
Risk/Reward would be poor to call a sell from current levels.
A move through 7300 will confirm the bearish momentum.
The measured move target is 7200.
We look to Sell at 7350 (stop at 7390)
Our profit targets will be 7250 and 7200...
EURAUD - 24h expiry
Broken out of the triangle formation to the upside.
Further upside is expected.
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 1.6850 will confirm the bullish momentum.
We look to...
The New Zealand dollar has declined by 1% on Tuesday. In the North American session, NZD/USD is trading at 0.6044, down 1.01%. Earlier, NZD/USD touched a low of 0.6034, its lowest level since June 8th.
China's post-Covid recovery has not gone according to plan, as weak global demand and soft domestic demand have weighed on economic activity. This message was...
Palladium - 24h expiry
Support is located at 1220 and should stem dips to this area.
We are trading at oversold extremes.
We look to buy dips.
1220 continues to hold back the bears.
Expect trading to remain mixed and volatile.
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We look to Buy at 1222.6 (stop at 1206.6)
Our profit targets will be 1262.6 and 1272.6
Resistance: 1269 / 1280 / 1300
Support:...
NZDUSD - 24h expiry
Price action has continued to trend strongly lower and has stalled at the previous support near 0.6060.
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 0.6125 will confirm the bullish momentum.
We look to Buy at 0.6075 (stop at...
The Japanese yen has started the week in negative territory. In the European session, USD/JPY is trading at 142.36, up 0.42%.
Inflation continues to be a key issue for the Bank of Japan, although it is much lower than in other major economies, at around 3%. Still, inflation is above the Bank's 2% target and this continues to raise speculation that the BoJ will...
EURUSD - 24h expiry
2 positive daily performances in succession.
Intraday, and we are between bespoke support and resistance 1.0955-1.1016.
Rallies should be capped by yesterday's high.
Preferred trade is to sell into rallies.
The medium term bias remains bearish.
We look to Sell at 1.1016 (stop at 1.1046)
Our profit targets will be 1.0946 and 1.0940...
The Canadian dollar is showing limited movement on Friday. In the North American session, USD/CAD is trading at 1.3360, up 0.06%. Canadian and US job numbers were soft today, but the Canadian dollar's reaction has been muted.
After a stellar job report in June, the July numbers were dreadful. Canada's economy shed 6,400 jobs in July, compared to a 59, 900 gain in...
AUDUSD - Intraday
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
Short term bias has turned negative.
The hourly chart technicals suggests further upside before the downtrend returns.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Further downside is...
HS50 - 24h expiry
Buying pressure from 19347 resulted in prices rejecting the dip.
We are trading at overbought extremes.
Short term bias is mildly bearish.
The hourly chart technicals suggests further upside before the downtrend returns.
Preferred trade is to sell into rallies.
We look to Sell at 19985 (stop at 20220)
Our profit targets will be 19435 and...
The British pound is slightly lower on Thursday. In the European session, GBP/USD is trading at 1.2685, down 0.19%. The pound has been struggling and is down 1.26% this week.
The Bank of England meets later today and policy makers have a tough decision on their hands. Will they raise rates by 25 basis points or be more aggressive and deliver a 50-bp hike? The BoE...
