AUDUSD - 24h expiry
Selling pressure dominated price action yesterday and we expect this to continue today.
Previous support located at 0.6490.
The hourly chart technicals suggests further upside before the downtrend returns.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Further downside is expected although...
USD/JPY is showing little movement on Tuesday. In the European session, USD/JPY is trading at 140.17, down 0.19%.
The Japanese yen continues to underperform and has plunged 2.8% in May. The yen fell as low as 140.93 on Monday, its lowest level since November 21st. The sharp depreciation is raising concerns in Tokyo and Masota Kanda, a top official at the Ministry...
The Australian dollar is drifting lower on Tuesday. AUD/USD is trading at 0.6538 in Europe, unchanged on the day.
RBA Governor Lowe testifies before a Senate Committee later today. Lawmakers will likely press Lowe about rate policy and the battle against inflation. Earlier this month, the RBA shocked the markets by delivering a 25-basis point hike. At the April...
EURCHF - 24h expiry
Trades at the lowest level in 32 weeks.
There is no clear indication that the downward move is coming to an end.
The previous swing low is located at 0.9677.
A break of the recent low at 0.9674 should result in a further move lower.
We look for losses to be extended today.
We look to Sell a break of 0.9673 (stop at 0.9693
Our profit...
NZDJPY - 24h expiry
Previous support located at 84.50.
Previous resistance located at 85.00.
Broken out of the channel formation to the downside.
Further downside is expected.
Risk/Reward would be poor to call a sell from current levels.
A move through 84.50 will confirm the bearish momentum.
We look to Sell at 85.35 (stop at 85.75)
Our profit targets will...
USDCHF - 24h expiry
Our short-term bias remains positive.
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
50 4-hour EMA is at 0.9018.
Trend line support is located at 0.9008.
We look to buy dips.
We look to Buy at 0.9018 (stop at 0.8993)
Our profit targets will be 0.9078 and...
EURNZD - Intraday
Daily signals are bullish.
Short term momentum is bullish.
A lower correction is expected.
The previous swing high is located at 1.7556.
Previous resistance at 1.7520 now becomes support.
We look to Buy at 1.7522 (stop at 1.7462)
Our profit targets will be 1.7672 and 1.7692
Resistance: 1.7700 / 1.7738 / 1.7770
Support: 1.7650 / 1.7580...
AUDUSD - Intraday
Posted a Bullish Hammer Bottom on the 4-hour chart.
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.
Further downside is expected although we prefer to sell into rallies close to the 0.6575 level.
We look to Sell at...
ASX200 - 24h expiry
Previous support level of 7129 broken.
Short term bias has turned negative.
Preferred trade is to sell into rallies.
The hourly chart technicals suggests further upside before the downtrend returns.
Further downside is expected although we prefer to sell into rallies close to the 7190 level.
We look to Sell at 7190 (stop at 7230)
Our...
GBP/USD continues its downswing. The pound is trading at 1.2340, down 0.20% and is at a one-month low against the US dollar.
The UK releases retail sales for April on Friday. On an annualized basis, the headline and core readings are expected to decline by 2.8% in April, which would indicate that UK consumers continue to hold tight onto the purse strings....
EURJPY - 24h expiry
A Doji style candle has been posted from the high.
We are trading at overbought extremes.
A lower correction is expected.
The bias is still for higher levels and we look for any dips to be limited.
We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
We look to Buy at 149.05 (stop at 148.65)...
NIK225 - 24h expiry
We are trading at oversold extremes.
A higher correction is expected.
This is positive for sentiment and the uptrend has potential to return.
The 50% Fibonacci retracement is located at 30124 from 28893 to 31355.
Further upside is expected although we prefer to buy into dips close to the 30125 level.
We look to Buy at 30125 (stop at...
GBP/USD is down for a third straight day, trading at 1.2374, down 0.33%. Earlier, GBP/USD touched a low of 1.2369, its lowest level since April 18th. The FOMC releases the minutes of the May meeting later today.
The closely-watched UK inflation report for April was a disappointment. There was some good news as headline inflation fell to 8.7%, down sharply from...
AUDUSD - 24h expiry
We are trading at oversold extremes.
Price action looks to be forming a bottom.
Indecisive price action has resulted in sideways congestion on the intraday chart.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
Previous support located at 0.6574.
We look to Buy...
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...
