Palladium - 24h expiry
Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end.
Previous support level of 1262 broken.
We are trading at oversold extremes.
We look for a temporary move higher.
50 4hour EMA is at 1290.
We look to Sell at 1304.8 (stop at 1328.8)
Our profit targets...
GER40 - 24h expiry
Our short term bias remains negative.
The bearish engulfing candle on the weekly chart is negative for sentiment.
Bespoke resistance is located at 16070.
There is no clear indication that the downward move is coming to an end.
Preferred trade is to sell into rallies.
16081 has been pivotal.
We look to Sell at 16039 (stop at 16139)
Our...
NIK225 - 24h expiry
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
Price action looks to be forming a top.
A lower correction is expected.
Although the anticipated move lower is corrective, it does offer ample risk/reward today.
Further downside is expected although we prefer to sell into rallies close to...
US30 - 24h expiry
We are trading at overbought extremes.
A lower correction is expected.
Daily signals are bullish.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
Further upside is expected although we prefer to buy into dips close to the 33935 level.
We look to Buy at 33875...
EURCHF - 24h expiry
Bespoke support is located at 0.9755.
Previous resistance at 0.9755 now becomes support.
0.9750 continues to hold back the bears.
We look to buy dips.
Daily signals are mildly bullish.
We look to Buy at 0.9753 (stop at 0.9729)
Our profit targets will be 0.9813 and 0.9823
Resistance: 0.9795 / 0.9815 / 0.9830
Support: 0.9778 / 0.9765 /...
EURUSD - 24h expiry
Price action looks to be forming a top.
Price action has stalled at good resistance levels and currently trades just below here (1.0980).
Short term RSI is moving lower.
A move through 1.0920 will confirm the bearish momentum.
The measured move target is 1.0820.
We look to Sell a break of 1.0919 (stop at 1.0949)
Our profit targets...
US500 - 24h expiry
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
We are trading at overbought extremes.
The 50 day moving average should provide resistance at 4380.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower.
Preferred...
EUR/USD has edged lower on Wednesday. In the European session, EUR/USD is trading at 1.0939, up 0.20%.
The German GfK Consumer Sentiment report found that consumer confidence is expected to fall in July to -25.4, down from a downwardly revised -24.4 in June. The report noted that the German consumer is reluctant to spend due to economic uncertainty, and high...
Brent - 24h expiry
A level of 72 continues to hold back the bears.
Daily momentum has stalled and our bias is now neutral.
Expect trading to remain mixed and volatile.
We look to buy dips.
The hourly chart technicals suggest further downside before the uptrend returns.
We look to Buy at 72.13 (stop at 71.13)
Our profit targets will be 74.63 and 75.13...
ASX200 - 24h expiry
Buying pressure from resulted in prices rejecting the dip.
The current move higher is expected to continue.
Short term bias has turned negative.
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 rallies close to the 7190 level....
The Canadian dollar spiked and gained 50 points after Canada released the May inflation report but has pared these gains. USD/CAD is unchanged at 1.3158.
Canada's inflation rate fell sharply in May to 3.4%, down from 4.4% in April. As expected, much of that decline was due to lower gasoline prices. Still, this is the lowest inflation rate since June 2021.The core...
USDJPY - 24h expiry
Broken out of the channel formation to the upside.
Reverse trend line support comes in at 142.05.
Bespoke support is located at 141.42.
A Fibonacci confluence area is located at 142.93.
Although the anticipated move higher is corrective, it does offer ample risk/reward today.
We look to Buy at 142.93 (stop at 142.58)
Our profit...
The Australian dollar is in positive territory on Tuesday. AUD/USD rose as high as 50 pips earlier but has pared these gains and is trading at 0.6685, up 0.16%.
The Australian dollar is showing some life after last week's awful performance, in which it declined by 2.87%.
On Wednesday, Australia releases the monthly inflation report for May. Inflation is expected...
AUDUSD - 24h expiry
A Doji style candle has been posted from the base.
Buying pressure from 0.6667 resulted in prices rejecting the dip.
Price action looks to be forming a bottom.
Short term bias has turned negative.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
We look to Sell at 0.6750 (stop at...
NZDUSD - 24h expiry
Trend line resistance is located at 0.6180.
Previous support located at 0.6150.
We expect a reversal in this move. Risk/Reward would be poor to call a sell from current levels.
A move through 0.6150 will confirm the bearish momentum.
We look to Sell at 0.6180 (stop at 0.6210)
Our profit targets will be 0.6105 and 0.6100
Resistance:...
UK100 - 24h expiry
The current move lower is expected to continue.
Short term RSI has turned negative.
Rallies continue to attract sellers.
Risk/Reward would be poor to call a sell from current levels.
A move through 7425 will confirm the bearish momentum.
We look to Sell at 7500 (stop at 7525)
Our profit targets will be 7425 and 7400
Resistance: 7475 /...
EURCHF - 24h expiry
Bespoke support is located at 0.9755.
Previous resistance at 0.9755 now becomes support.
0.9750 continues to hold back the bears.
We look to buy dips.
Daily signals are mildly bullish.
We look to Buy at 0.9754 (stop at 0.9730)
Our profit targets will be 0.9814 and 0.9824
Resistance: 0.9780 / 0.9795 / 0.9815
Support: 0.9765 / 0.9750 /...
EUR/USD has taken a tumble on Friday. In the European session, the euro is trading at 1.0885, down 0.64%. The euro fell as low as 1.0844 earlier in the day. Later today, the US releases ISM Services PMI. The consensus stands at 54.0 for June, following 54.9 in May. The services sector is in solid shape and the ISM Services PMI has posted four straight readings...
