NZDJPY - 24h expiry
Price action has continued to trend strongly lower and has stalled at the previous support near 87.50.
The correction lower is assessed as being complete.
We expect a reversal in this move.
Risk/Reward would be poor to call a buy from current levels.
A move through 88.25 will confirm the bullish momentum.
We look to Buy at 87.50 (stop...
EURAUD - Intraday
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. This is negative for sentiment and the downtrend has potential to return. The hourly chart technicals suggests further upside before the downtrend returns. Previous resistance located at 1.6582. Preferred trade is to sell into rallies.
We...
DE30EUR - Intraday
Broken out of the Head and Shoulders formation to the downside. Neckline resistance 15450. The bearish engulfing candle on the daily chart is negative for sentiment. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 15298, resulting in improved risk/reward. News events could adversley affect the...
The euro has moved upwards on Friday. In the European session, EUR/USD is trading at 1.0597, up 0.30%. After falling sharply earlier this week, the euro has rebounded and gained close to 1% since Wednesday.
The eurozone's inflation level dropped to 4.3% y/y in September, a sharp decline from the August reading of 5.2% y/y and below market expectations of 4.5%...
AUDUSD - Intraday
Buying pressure from 0.6331 resulted in prices rejecting the dip.
The current move higher is expected to continue.
Indecisive price action has resulted in sideways congestion on the intraday chart.
Preferred trade is to sell into rallies.
Previous resistance located at 0.6510.
We look to Sell at 0.6510 (stop at 0.6540)
Our profit...
GBPAUD - 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 1.9000.
We expect a reversal in this move.
A move through 1.9100 will confirm the bullish momentum.
Short term RSI is moving higher.
We look to Buy at 1.8985 (stop at 1.8925)
Our profit targets will...
The Japanese yen has stemmed a 3-day slide, in which it declined around 1.5% against the US dollar. In the European session, USD/JPY is trading at 149.31, down 0.23%. In the US, third estimate GDP for the second quarter is expected to be revised lower to 2.1%.
Japan will release Tokyo Core CPI on Friday. The core rate, a key inflation gauge, is expected to ease...
FRA40 - 24h expiry
Price action has continued to trend strongly lower and has stalled at the previous support near 7025.
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 7100 will confirm the bullish momentum.
We look to Buy at 7025 (stop at 6975)
Our...
NZDUSD - 24h expiry
There is no clear indication that the upward move is coming to an end.
A lower correction is expected.
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...
The euro has extended its losses on Wednesday and has declined close to 1% this week. In the European session, EUR/USD is trading at 1.0552, down 0.18%.
Germany has traditionally been the powerhouse of Europe but finds itself lagging in the rear, with a struggling economy and high inflation. The GfK Consumer Climate index fell to -26.5 for October, down from a...
AUDJPY - 24h expiry
A lower correction is expected.
We expect a reversal in this move.
Risk/Reward would be poor to call a buy from current levels.
A move through 95.25 will confirm the bullish momentum.
The measured move target is 96.00.
We look to Buy at 94.75 (stop at 94.35)
Our profit targets will be 95.75 and 96.00
Resistance: 95.25 / 95.75 /...
The Australian dollar is in negative territory on Tuesday. In the North American session, AUD/USD is trading at 0.6405, down 0.28%.
Australia releases the CPI report on Wednesday. In July, CPI eased to 4.9%, beating expectations and dropping to the lowest inflation rate since February 2022. CPI is expected to rise to 5.2% in August.
Inflation remains more than...
NZDJPY - 24h expiry
There is no clear indication that the upward move is coming to an end.
Further upside is expected.
Risk/Reward would be poor to call a buy from current levels.
A move through 89.00 will confirm the bullish momentum.
Short term RSI has turned positive.
We look to Buy at 88.25 (stop at 87.85)
Our profit targets will be 89.25 and 89.50...
GER40 - 24h expiry
The lack of interest is a concern for bulls.
Previous support at 15600 now becomes resistance.
There is no clear indication that the downward move is coming to an end.
Rallies should be capped by yesterday's high.
Current prices have reacted from a low of 15327, however, we expect further losses to follow.
We look to Sell at 15578 (stop...
NZDUSD - 24h expiry - We look to Buy at 0.5930 (stop at 0.5899)
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 0.5975 will confirm the bullish momentum.
The measured move target is 0.6025....
Palladium - 24h expiry
The primary trend remains bearish.
The bearish engulfing candle on the 4 hour chart is negative for sentiment.
Trading has been mixed and volatile.
Expect trading to remain mixed and volatile.
Rallies should be capped by yesterday's high.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is...
US100 - Intraday
We are trading at oversold extremes.
Previous support located at 14670.
Prices have reacted from 14668.
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
The bias is to break to the upside.
We look to Buy a break of 14852 (stop at 14752)
Our profit targets will be 15102 and 15152...
The British pound is in negative territory after two days of losses. In the European session, GBP/USD is trading at 1.2245, down 0.40%. The struggling pound is down 1.1% this week and is trading at its lowest levels since late March.
It is a busy day on the data calendar for UK releases. Retail sales rose in August by 0.4% m/m, following a 1.1% decline in July...
