Palladium - 24h expiry -
Offers ample risk/reward to buy at the market.
We are trading at oversold extremes.
Trend line support is located at 1420.
Early pessimism is likely to lead to losses although extended attempts lower are expected to fail.
We look for a temporary move lower.
We look to Buy at 1421.2 (stop at 1397.1)
Our profit targets will be...
USD/JPY has posted gains in the North American session after a solid showing from US nonfarm payrolls. Japan's real wages continued to fall, while household spending rebounded.
In the North American session, USD/JPY is trading at 132.24, up 0.36% on the day.
In the US, nonfarm payrolls was within expectations, easing concerns that the US labour market is in...
It could be a busy day for the US dollar, with the release of nonfarm payrolls later today. Canada posted a strong employment report on Thursday, as employment change and unemployment were better than expected.
In the European session, USD/CAD is trading at 1.3501, up 0.07%.
All eyes are on US nonfarm payrolls, with a consensus estimate of 240,000 for March,...
AUDJPY - 24h expiry - We look to Buy at 87.30 (stop at 86.60)
Previous support located at 87.50.
Previous resistance located at 88.50.
Price action has stalled at good support levels and currently trades just above here (87.50).
The correction lower is assessed as being complete.
We expect a reversal in this move.
Risk/Reward would be poor to call a buy...
EURNZD - 24h expiry -
Price action has posted a Doji candle and signals a possible reversal of the recent trend.
Expect trading to remain mixed and volatile.
1.7492 has been pivotal.
A higher correction is expected.
We look for a temporary move higher.
We look to Sell at 1.7488 (stop at 1.7538)
Our profit targets will be 1.7368 and 1.7348
Resistance:...
NASDAQ - 24h expiry - We look to Buy at 12829 (stop at 12694)
A Fibonacci confluence area is located at 13360.
Continued downward momentum from 13238 resulted in the pair posting net daily losses yesterday.
The move lower is mixed and volatile, common in corrective sequences.
Bespoke support is located at 12829.
Preferred trade is to buy on dips.
Our...
GER40 - 24h expiry - We look to Sell a break of 15529 (stop at 15649)
We are trading at overbought extremes.
Bearish divergence can be seen on the 4 hour chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower.
The bearish engulfing candle on the daily chart is...
AUDUSD - 24h expiry -
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
Short term bias is mildly bullish.
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 further downside before the uptrend...
NZDUSD - 24h expiry - We look to Buy at 0.6275 (stop at 0.6225)
Previous support located at 0.6300.
Previous resistance located at 0.6350.
We can see no technical reason for a change of trend.
Further upside is expected.
Dips continue to attract buyers.
Our profit targets will be 0.6375 and 0.6400
Resistance: 0.6350 / 0.6375 / 0.6400
Support: 0.6300 /...
The New Zealand dollar is showing sharp movement on Wednesday after the Reserve Bank of New Zealand shocked the markets and raised rates by 50 basis points. In the US, JOLTS Jobs Openings was below expectations, raising concerns about the strength of the US labour market.
In the European session, NZD/USD is trading at 0.6296, down 0.24%.
The RBNZ gets the prize...
USDCHF - 24h expiry - We look to Sell at 0.9129 (stop at 0.9159)
Trades at the lowest level in 19months.
Previous support at 0.9125 now becomes resistance.
We are trading at oversold extremes.
Our short term bias remains negative.
Preferred trade is to sell into rallies.
We look for a temporary move higher.
Our profit targets will be 0.9059 and 0.9049...
GER40 - 24h expiry -
We are trading at overbought extremes.
Bearish divergence can be seen on the 4 hour chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower.
The bearish engulfing candle on the 4 hour chart is negative for sentiment.
Although the bulls are...
NIK225 - 24h expiry - We look to Buy at 27855 (stop at 27635)
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.
The hourly chart technicals suggests further downside before the uptrend returns.
Further upside is expected although we prefer to buy into dips close...
The New Zealand dollar is almost unchanged ahead of the Reserve Bank of New Zealand (RBNZ) rate decision on Wednesday (New Zealand time). The US releases JOLTS Job Openings.
NZD/USD is trading quietly at the 0.63 line in the European session.
The RBNZ is widely expected to raise rates by 25 basis points, which would bring the benchmark cash rate to 5.0%. Over...
GER40 - 24h expiry -
We are trading at overbought extremes.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
15708 has been pivotal.
A higher correction is expected.
Rallies should be capped by yesterday's high.
We look to Sell at 15699 (stop at 15819)
Our profit targets will be 15401 and 15341...
NIK225 - 24h expiry - We look to Buy at 28098 (stop at 27940)
Price action continued to range between key support & resistance (25535 - 28653) and we expect this to continue.
Short term bias is bullish.
Bespoke support is located at 28098.
Preferred trade is to buy on dips.
Expect trading to remain mixed and volatile.
Our profit targets will be 28469 and...
The Australian dollar has edged higher at the start of the week. In the European session, AUD/USD is trading at 0.6715, up 0.45%. The RBA meets on Tuesday (Australia time) and is expected to pause rates. The US releases ISM Manufacturing PMI, which is expected to record another decline.
The RBA has aggressively tightened interest rates in the current cycle,...
EURJPY - 24h expiry - We look to Sell at 145.55 (stop at 146.20)
Buying pressure from 143.62 resulted in prices rejecting the dip.
The current move higher is expected to continue.
Daily signals for sentiment are at overbought extremes.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction...
