CN50USD - 24h expiry
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
Posted a Bullish Hammer Bottom on the 4 hour chart.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
Although the anticipated move higher is corrective, it does...
The New Zealand dollar is sharply lower in Wednesday trade. In the European session, NZD/USD is trading at 0.6095, down 0.61%.
US inflation ticked lower in October as expected and the release was a non-event for the markets, which slightly reduced their rate-cut pricing. Headline CPI climbed 3.1% year-on-year in November, down from 3.2% in October and in line...
UK100 - 24h expiry
There is no clear indication that the upward move is coming to an end.
The trend of higher lows is located at 7400.
Risk/Reward would be poor to call a buy from current levels.
A move through 7575 will confirm the bullish momentum.
The measured move target is 7620.
We look to Buy at 7545 (stop at 7505)
Our profit targets will be 7645...
NZDJPY - 24h expiry
Indecisive price action has resulted in sideways congestion on the intraday chart.
Further upside is expected.
RSI (relative strength indicator) is flat and reading close to 50 (mid-point) highlighting the fact that we are non- trending.
Risk/Reward would be poor to call a buy from current levels.
A move through 89.50 will confirm the...
EURCHF - 24h expiry
There is no clear indication that the downward move is coming to an end.
Bespoke resistance is located at 0.9475.
50 4hour EMA is at 0.9480.
We look for a temporary move higher.
The lack of interest is a concern for bulls.
We look to Sell at 0.9475 (stop at 0.9499)
Our profit targets will be 0.9415 and 0.9405
Resistance: 0.9450 /...
The British pound is drifting on Tuesday. In the European session, GBP/USD is trading at 1.2551, down 0.04%.
Tuesday's UK employment report was notable for the decline in wage growth. Earnings excluding bonuses rose 7.3% in the three months to October, down from 7.8% in the three months to September. This was lower than the consensus estimate of 7.4%.
Wage...
The British pound is showing little movement at the start of the week. In Monday's European session, GBP/USD is trading at 1.2576, up 0.22%.
It's a busy week for UK releases which could translate into volatility from the British pound. The UK releases employment data on Tuesday, GDP on Wednesday, followed by the Bank of England rate decision on Thursday.
The UK...
GER40 - 24h expiry
Price action resulted in a new all-time high at 16823.
There is no indication that the rally is coming to an end.
Yesterday's Marabuzo is located at 16715.
Preferred trade is to buy on dips. Our outlook is bullish.
We look to Buy at 16715 (stop at 16615)
Our profit targets will be 16965 and 17025
Resistance: 16823 / 16900 /...
US30USD - Intraday
Price action continues to be mixed and volatile for 4 days in succession resulting in spikes in both directions.
RSI (relative strength indicator) is flat and reading close to 50 (mid-point) highlighting the fact that we are non- trending.
There is no clear indication that the upward move is coming to an end.
Economic figures could adversley...
EURCHF - Intraday
Buying posted close to the previous low of 0.9417.
The bullish engulfing candle on the 4 hour chart the positive for sentiment.
Yesterday's Marabuzo is located at 0.9431.
We look to buy dips.
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
We look to Buy at 0.9431 (stop at 0.9407)...
The Australian dollar is trading quietly on Friday. In the European session, AUD/USD is trading at 0.6611, up 0.14%.
It has been a roller-coaster week for the Australian dollar. After declining 1.88% early in the week, the Aussie rebounded on Thursday and gained 0.80%. Today's US nonfarm payrolls report could result in further volatility from the Australian...
CHN50 - 24h expiry
Buying pressure from 11171 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 has surged on Thursday. In the North American session, USD/JPY is trading at 144.00, down a massive 2.25%. Earlier, the yen dropped as low as 143.79 per dollar, which marked the yen's highest level since August 10.
The yen has posted its biggest one-day jump of the year against the dollar on Thursday after Bank of Japan policy makers provided...
HS50 - 24h expiry
Buying pressure from 16228 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 British pound is showing limited movement on Wednesday. GBP/USD is trading at 1.2582 in the North American session, down 0.10%.
The UK Construction PMI ticked lower to 45.5 in November, compared to 45.6 in October and shy of the consensus estimate of 46.3. The construction sector has been in contraction for most of the year and the November print marked a...
EURCHF - 24h expiry
Buying posted close to the previous low of 0.9417.
Bullish divergence is expected to support prices.
Early pessimism is likely to lead to losses although extended attempts lower are expected to fail.
We look for a temporary move higher.
We look to buy dips.
We look to Buy at 0.9420 (stop at 0.9396)
Our profit targets will be 0.9480...
The euro has extended its losses on Tuesday. In the North American session, EUR/USD is trading at 1.0792, down 0.41%. The euro has fallen for a fifth straight day, declining 1.9% during that time.
Germany and eurozone services PMIs were revised upwards in November but that wasn't enough to stem the euro's nasty slide. The German PMI was revised sharply to 49.6,...
XAUUSD - 24h expiry
Price action resulted in a new all-time high at 2145.
Selling pressure from 2145 resulted in all the initial daily gains being overturned.
Posted a Bearish Outside candle on the Daily chart.
Bespoke support is located at 2016.
Previous resistance, now becomes support at 2010.
There is scope for mild upward pressure at the open but we look...
