GER40 - 24h expiry
Daily signals are bullish.
We are trading at overbought extremes.
Short-term momentum is bearish.
A lower correction is expected.
The 1-day moving average should provide support at 15980.
The sequence for trading is higher highs and lows.
We look to Buy at 15981 (stop at 15896)
Our profit targets will be 16191 and 16241
Resistance:...
GBPAUD - 24h expiry
Previous support located at 1.8700.
Previous resistance located at 1.8800.
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.
We look to Buy at 1.8650 (stop at 1.8599)
Our profit...
GBP/USD is trading quietly at 1.2423, down 0.11% on the day.
UK inflation has been a thorn in the side of the Bank of England for months and is still above 10%. The UK releases the April inflation report on Wednesday and relief may finally have arrived. Headline CPI is expected to fall from 10.1% all the way to 8.3% y/y. That would be welcome news, but core CPI,...
GER40 - 24h expiry
Price action continues to trade around the all-time highs.
Daily signals for sentiment are at overbought extremes.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
A higher correction is expected.
A break of the recent low at 16190 should result in a further move lower.
We look to Sell...
USDCHF - 24h expiry - We look to Buy at 0.8963 (stop at 0.8938)
Short-term bias has turned positive.
Trend line support is located at 0.8960.
Intraday dips continue to attract buyers and there is no clear indication that this trading sequence is ending.
We are trading at oversold extremes.
We look to buy dips.
Our profit targets will be 0.9023 and 0.9033...
NZDUSD - 24h expiry
Previous support located at 0.6275.
Previous resistance located at 0.6300.
The trend of higher lows is located at 0.6190.
Further upside is expected.
A move through 0.6300 will confirm the bullish momentum.
We look to Buy at 0.6255 (stop at 0.6230)
Our profit targets will be 0.6315 and 0.6325
Resistance: 0.6300 / 0.6310 /...
The New Zealand dollar is coming off a strong week, with gains of 1.36%. In Monday's North American session, NZD is unchanged, trading at 0.6274.
New Zealand releases retail sales on Tuesday. The central bank's tightening has hampered consumer spending and the markets are bracing for a decline in retail sales for the first quarter. Headline retail sales are...
GER40 - 24h expiry
Price action continues to trade around the all-time highs.
Daily signals for sentiment are at overbought extremes.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
A higher correction is expected.
A break of the recent low at 16240 should result in a further move lower.
We look to Sell...
USDCHF - 24h expiry
The previous resistance level of 0.9000 was broken.
We expect a reversal in this move.
A lower correction is expected.
We look to buy dips.
20 4-hour EMA is at 0.9005. Our outlook is bullish.
We look to Buy at 0.8995 (stop at 0.8970)
Our profit targets will be 0.9055 and 0.9065
Resistance: 0.9050 / 0.9062 / 0.9080
Support: 0.9042 /...
The Canadian dollar is trading quietly ahead of a key retail sales report later today. USD/CAD is trading in Europe at 1.3484, down 0.13%.
The Canadian consumer is holding tightly to their wallet, which is not all that surprising in the current economic climate. Inflation ticked higher in April, rising from 4.3% to 4.4%. Add in high interest rates and it's not...
GER40 - 24h expiry
Price action continues to trade around the all-time highs.
16301 has been pivotal.
Short-term momentum is bullish.
We are trading at overbought extremes.
Early optimism is likely to lead to gains although extended attempts higher are expected to fail.
We look for a temporary move higher.
We look to Sell at 16297 (stop at 16377)
Our...
ASX200 - 24h expiry
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower.
Although the anticipated move lower is corrective, it does offer ample risk/reward today.
The hourly chart...
The yen woes continue, as the currency has plunged a massive 400 points over the past week. In Thursday's North American session, the yen is trading at 138.52, up 0.60% on the day. USD/JPY hasn't been at such high levels since November 2022.
All eyes will be on Japan's Core CPI release early on Friday. This is a key inflation indicator and could move the dial of...
EURNZD - 24h expiry
Our short-term bias remains negative.
The lack of interest is a concern for bulls.
Previous resistance is located at 1.7440.
We look for a temporary move higher.
50 4-hour EMA is at 1.7420.
We look to Sell at 1.7447 (stop at 1.7517)
Our profit targets will be 1.7267 and 1.7227
Resistance: 1.7350 / 1.7400 / 1.7440
Support: 1.7305 /...
AUDUSD - 24h expiry
There is no sign that this bearish momentum is faltering but the pair has stalled close to a previous swing low of 0.6629.
Bullish divergence can be seen on the 4 hour chart (the chart makes a lower low while the oscillator makes a higher low), often a signal of exhausted bearish momentum, or at least a correction higher.
Indecisive price...
GBPAUD - 24h expiry
Previous support located at 1.8740.
Previous resistance located at 1.8800.
Broken out of the triangle formation to the upside.
Further upside is expected.
Risk/Reward would be poor to call a buy from current levels.
We look to Buy at 1.8715 (stop at 1.8650)
Our profit targets will be 1.8825 and 1.8850
Resistance: 1.8800 / 1.8850 /...
The Japanese yen is on a four-day losing streak and is in negative territory on Wednesday. In the North American session, the yen is trading at 137.39, up 0.74% on the day.
Japan's GDP in the first quarter was higher than expected. The economy grew by 1.6% y/y, after a 0.1% decline in Q4 2022 and easily beat the estimate of 0.7%. On a quarterly basis, GDP...
EURUSD - 24h expiry
Price action continues to be mixed and volatile for 2 days in succession resulting in spikes in both directions.
Price action has formed an intraday bullish Bat pattern.
Selling posted in Asia.
The previous swing low is located at 1.0831.
Bespoke support is located at 1.0827.
There is scope for mild selling at the open but losses should...
