GBPUSD - 24h expiry
We are trading at overbought extremes.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
This is negative for sentiment and the downtrend has potential to return.
The 200 day moving average should provide resistance at 1.2829.
Preferred trade is to sell into rallies.
We look to Sell at...
NZDUSD - 24h expiry
Trading within a Bearish Channel formation.
We look for price action to stay within the channel formation today.
Our expectation now is for this swing higher to continue towards the top of the trend channel, to complete a correction before sellers return.
Risk/Reward would be poor to call a sell from current levels.
A move through 0.5900...
The Japanese yen has posted significant losses on Monday. USD/JPY is trading at 146.23 in the North American session, up 0.57% on the day. The US dollar has looked sharp and is within a whisker of pushing the yen below the 146 line, as was the case last week when the strong US dollar pushed the ailing yen to a nine-month low.
The Japanese economy was once...
EURUSD - 24h expiry
A Doji style candle has been posted from the base.
Buying posted in Asia.
The medium term bias remains bearish.
Bespoke resistance is located at 1.0933.
Previous support, now becomes resistance at 1.0929.
Preferred trade is to sell into rallies.
We look to Sell at 1.0933 (stop at 1.0963)
Our profit targets will be 1.0858 and 1.0838...
The Japanese yen has extended its gains on Friday. In the North American session, USD/JPY is trading at 145.29, down 0.38%.
The month of August has been kind to the US dollar, which has posted strong gains against all of the major currencies. USD/JPY has risen 2.34% in that period and on Thursday, the yen fell as low as 146.56, a nine-month low against the US...
US30 - Intraday
Trades at the lowest level in 22 days.
Bespoke support is located at 34396.
Posted a Double Bottom formation.
A break of 34507 is needed to confirm follow through bullish momentum.
Bespoke resistance is located at 34960.
We look to Buy a break of 34507 (stop at 34387)
Our profit targets will be 34807 and 34867
Resistance: 34507 / 34960...
FRA40 - 24h expiry
There is no indication that the selloff is coming to an end.
Short-term RSI has turned negative.
Further downside is expected.
Risk/Reward would be poor to call a sell from current levels.
A move through 7150 will confirm the bearish momentum.
We look to Sell at 7225 (stop at 7275)
Our profit targets will be 7105 and 7075
Resistance:...
HS50 - 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.
The current move higher is expected to continue.
Previous resistance located at 18532.
Preferred trade is to sell...
The British pound has extended its gains on Thursday. In the North American session, GBP/USD is trading at 1.2772, up 0.32%.
The UK will wrap up a busy week with retail sales on Friday. The July report is expected to show a decline in consumer spending. Headline retail sales are expected to fall by 0.5% after a 0.7% gain in May and core retail sales are projected...
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 0.8769.
The sequence for trading is higher highs and lows.
Remains bullish while above last week's low.
We look to Buy at 0.8771 (stop at 0.8739)
Our...
NZDJPY - 24h expiry
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
86.30 continues to hold back the bears.
Bespoke support is located at 86.27.
86.27 has been pivotal.
We look to buy dips.
Daily signals are mildly bullish.
We look to Buy at 86.45 (stop at 86.05)
Our profit...
The British pound has posted considerable gains on Wednesday. In the North session, GBP/USD is trading at 1.2754, up 0.39%.
The UK released the July inflation report today and the readings were a mixed bag. Headline CPI dropped to 6.8% y/y, a sharp drop from the 7.9% gain in June and matching the consensus estimate. The decline was certainly welcome news but the...
AUDUSD - 24h expiry
We are trading at oversold extremes.
A higher correction is expected.
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 sell into rallies close to the 0.6525 level....
The British pound has edged higher on Tuesday. In the European session, GBP/USD is trading at 1.2697, up 0.08%.
Investors were treated to a mixed UK employment report today. The labour market, which has been surprisingly resilient in the face of the Bank of England's tightening, is showing unmistakable signs of cooling.
Employment fell by 66,000 in the three...
AUDJPY - 24h expiry
Indecisive price action has resulted in sideways congestion on the intraday chart.
Dips continue to attract buyers.
Risk/Reward would be poor to call a buy from current levels.
A move through 94.75 will confirm the bullish momentum.
The measured move target is 95.25.
We look to Buy at 94.00 (stop at 93.50)
Our profit targets will be...
HS50 - 24h expiry
Previous support level of 18860 broken.
Short term bias has turned negative.
We are trading at oversold extremes.
A higher correction is expected.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
We look to Sell at 19025 (stop at 19185)
Our profit targets will be 18570 and 18015...
The Australian dollar started the week by dropping 50 basis points but has recovered most of these losses. In the European session, AUD/USD is trading at 0.6488, down 0.12%.
It has been a rough ride lately for the Australian dollar. The currency fell 1.17% against the US dollar last week and has plunged 3.39% in the month of August.
Australia's inflation rate...
The British pound is quiet at the start of the week. In the European session, GBP/USD is trading at 1.2701, up 0.05%.
The UK releases key employment numbers on Tuesday and the data is expected to show that the UK labour market remains tight. The economy is expected to have created 50,000 jobs in the three months to June. That number is down from 125,000...
