GBPCHF - 24h expiry
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
Price action looks to be forming a bottom.
A higher correction is expected.
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...
GBPAUD - 24h expiry
The trend of higher intraday lows has also been broken.
The next barrier is the trend of hourly lows at 1.8950.
Further downside is expected.
A move through 1.9000 will confirm the bearish momentum.
Risk/Reward would be poor to call a sell from current levels.
We look to Sell at 1.9145 (stop at 1.9195)
Our profit targets will be...
The Australian dollar continues to sizzle and has climbed 1.04% on Thursday, after rising 1.56% a day earlier. In the European session, AUD/USD is trading at 0.6857, close to a 3-week high.
Inflation remains the Reserve Bank of Australia's number one priority and Thursday's inflation expectations release vindicated the RBA's concern that inflation expectations...
USDCAD - 24h expiry
Price action has stalled at good support levels and currently trades just above here (1.3150).
We expect a reversal in this move.
Risk/Reward would be poor to call a buy from current levels.
Short term RSI has turned positive.
A move through 1.3200 will confirm the bullish momentum.
We look to Buy at 1.3150 (stop at 1.3110)
Our profit...
NZDUSD - 24h expiry
There is no indication that the rally is coming to an end.
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 0.6300 will confirm the bullish momentum.
The RSI is trending higher.
We...
The Canadian dollar has posted strong gains in Wednesday's North American session. In the North American session, USD/CAD is trading at 1.3146, down 0.63%. On the economic calendar, it has been a busy day, with the Bank of Canada raising interest rates and US inflation falling lower than expected.
The Bank of Canada raised rates by 0.25% on Wednesday, bringing...
AUDUSD - 24h expiry
Previous resistance level of 0.6705 broken.
Short term bias has turned positive.
We are trading at overbought extremes.
A lower correction is expected.
We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
We look to Buy at 0.6625 (stop at 0.6590)
Our profit targets will be 0.6715 and 0.6730...
GER40 - 24h expiry
Short term oscillators have turned positive.
Previous resistance at 15750 now becomes support.
The primary trend remains bullish.
Prices have reacted from 15450.
Trading volume is increasing.
We look to Buy at 15741 (stop at 15641)
Our profit targets will be 15991 and 16051
Resistance: 15851 / 15900 / 16000
Support: 15800 / 15750 /...
EURAUD - 24h expiry
Trading within a Corrective Channel formation.
We expect a reversal in this move.
Momentum is flat, highlighting the lack of clear direction.
A move through 1.6450 will confirm the bearish momentum.
The measured move target is 1.6300.
We look to Sell a break of 1.6445 (stop at 1.6495)
Our profit targets will be 1.6325 and 1.6295...
The New Zealand dollar is lower on Tuesday. In the European session, NZD/USD is trading at 0.6189, down 0.35%.
The Reserve Bank of New Zealand will be in the spotlight on Wednesday. The central bank holds its policy meeting and is expected to leave the official cash rate unchanged at 5.5%. The RBNZ has raised rates 12 consecutive times since August 2021 but has...
GBPJPY - 24h expiry
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
This is positive for sentiment and the uptrend has potential to return.
Previous support located at 179.92.
The hourly chart technicals suggests further downside before the uptrend returns.
We therefore, prefer to fade into the dip with a...
The British pound has drifted lower on Monday. GBP/USD is trading at 1.2827 in the European session, down 0.09%.
The UK labour market remains resilient despite a cooling economy and high interest rates. Tuesday's June jobs report is expected to show strong numbers. The economy is expected to produce 158,000 jobs in June, after a banner reading of 250,000 in May....
US500 - 24h expiry
Bespoke support is located at 4270.
A Fibonacci confluence area is located at 4269.
There is no clear indication that the downward move is coming to an end.
An overnight positive theme in Equities has led to a higher open this morning.
Bespoke resistance is located at 4399.
Further downside is expected and we prefer to set shorts in early...
AUDJPY - 24h expiry
Trading within a Corrective Channel formation.
We look for price action to stay within the channel formation today.
Risk/Reward would be poor to call a buy from current levels.
A move through 95.50 will confirm the bullish momentum.
Short term RSI has turned positive.
We look to Buy at 94.70 (stop at 94.25)
Our profit targets will be...
The Canadian dollar is drifting in the European session, trading at 1.3378.
It has been a good week for the Canadian currency, which is up about 1% against its US cousin. We can expect some significant movement from USD/CAD in the North American session, as both Canada and the US release the June employment reports.
The US labour market has been surprisingly...
GER40 - 24h expiry
The bearish engulfing candle on the weekly chart is negative for sentiment.
Short term bias has turned negative.
There is no clear indication that the downward move is coming to an end.
We are trading at oversold extremes.
We look for a temporary move higher.
Previous support at 15750 now becomes resistance.
We look to Sell at 15749...
NZDJPY - 24h expiry
Trading within a Bullish Channel formation.
We look for price action to stay within the channel formation today.
Our expectation now is for this swing lower to continue towards the bottom of the trend channel, to complete a correction before buyers return.
Risk/Reward would be poor to call a sell from current levels.
The measured move...
US2000 - 24h expiry
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible. We are trading at oversold extremes. Price action looks to be forming a bottom. 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...
