NASDAQ - 24h expiry - We look to Sell at 12920 (stop at 13090)
Posted Mixed Daily results for the last 4 days.
The 161.8% Fibonacci extension is located at 12304 from 12972 to 12559.
Bespoke support is located at 12277.
Selling spikes offers good risk/reward.
The bias remains mildly bearish but there is scope for a move in either direction at the open.
Our...
FRA40 -
Previous support located at 7000.
Previous resistance located at 7150.
Further downside is expected.
Rallies continue to attract sellers.
Risk/Reward would be poor to call a sell from current levels.
A move through 7000 will confirm the bearish momentum.
24h expiry - We look to Sell at 7150 (stop at 7250)
Our profit targets will be 6900 and 6850...
DOW30 - 24h expiry - We look to Buy at 31500 (stop at 31250)
The medium term bias remains bearish.
An overnight negative theme in Equities has led to a lower open this morning.
A move to 33065 will form a daily bearish Gartley pattern.
There is scope for mild selling at the open but losses should be limited.
Dip buying offers good risk/reward.
Our profit...
EURJPY - 24h expiry - We look to Buy at 139.55 (stop at 138.60)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
We are trading at oversold extremes.
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...
The British pound is down considerably on Friday and the US dollar has posted gains against the major currencies. In the European session, GBP/USD is trading at 122.13, down 0.60%.
UK releases are a mixed bag on Friday. Business activity and manufacturing weakened in March. The Services PMI eased to 52.8, down from 53.5 in February and shy of the estimate of 53.0...
USDCAD -
Previous support located at 1.3650.
Previous resistance located at 1.3750.
The trend of higher intraday lows has also been broken.
Further downside is expected.
Risk/Reward would be poor to call a sell from current levels.
A move through 1.3650 will confirm the bearish momentum.
24h expiry- We look to Sell at 1.3740 (stop at 1.3780)
Our profit...
NZDUSD - 19h expiry - We look to Buy at 0.6205 (stop at 0.6165)
Price action is located in bullish channel.
Previous resistance located at 0.6300.
Price action looks to be forming a bottom.
A move through 0.6300 will confirm the bullish momentum.
The trend of higher lows is located at 0.6190.
Our profit targets will be 0.6305 and 0.6325
Resistance: 0.6300...
The Swiss franc continues to rally and is trading in North America at 0.9139, down 0.37%. USD/CHF has fallen some 200 points in just one week.
SNB goes for oversize hike
The Swiss National Bank raised rates by 50 basis points today, bringing the cash rate to 1.50%. It was a toss-up whether the SNB would raise rates by 25 or 50 bp, and in the end, policy makers...
EURCHF - 18h expiry - We look to Sell at 1.0015 (stop at 1.0043)
The primary trend remains bearish.
Trend line resistance is located at 1.0018.
Short term momentum is bullish.
Prices expected to stall near trend line resistance.
We look for a temporary move higher.
Our profit targets will be 0.9951 and 0.9941
Resistance: 0.9997 / 1.0020 / 1.0042
Support:...
GER40 -
Our short term bias remains negative.
The bias is to break to the downside.
News events could adversley affect the short term technical picture.
A higher correction is expected.
A break of the recent low at 15069 should result in a further move lower.
Our profit targets will be 14759 and 14709
22h expiry - We look to Sell a break of 15059 (stop...
NZDJPY - 19h expiry - We look to Buy at 81.75 (stop at 81.00)
Previous support located at 82.00.
Previous resistance located at 82.50.
Price action has continued to trend strongly lower and has stalled at the previous support near 81.50.
Price action looks to be forming a bottom.
Dips continue to attract buyers.
Our profit targets will be 83.25 and 83.50...
EURNZD - 19h expiry - We look to Sell at 1.7373 (stop at 1.7423)
Bearish divergence can be seen on the daily 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.
Bearish divergence is expected to cap gains.
We look for a temporary move higher.
Preferred...
The British pound is in positive territory on Tuesday. In the European session, GBP/USD is trading at 1.2277, up 0.50%.
For Bank of England policy makers, the "how not to start the day" manual likely included inflation climbing higher. That was the bad news earlier today, as UK headline CPI rose to 10.4% in February, reversing the deceleration trend in recent...
GER40 -
We are trading at overbought extremes.
Short term bias has turned negative.
A higher correction is expected.
News events could adversley affect the short term technical picture.
Early optimism is likely to lead to gains although extended attempts higher are expected to fail.
24h expiry - We look to Sell at 15466 (stop at 15586)
Our profit targets...
The Swiss franc is showing some strength on Tuesday. In the European session, USD/CHF is trading at 0.9238, down 0.58%.
The turmoil which has roiled the financial markets over the past week has eased today. European stock markets are steady, and shares of UBS and Credit Suisse are both higher. The extraordinary measures taken on the weekend, namely, the emergency...
The euro has put together a 3-day rally and is up again on Tuesday. In the European session, EUR/USD is trading quietly at 1.0756, up 0.30%.
Let's start with some good news. European stock markets have settled down and are in positive territory. The euro took a bath last Wednesday and plunged 1.47% as Credit Suisse shares tumbled, but the currency has battled...
US500 - 22h expiry - We look to Sell at 4018 (stop at 4057)
Buying pressure from 3867 resulted in all the initial daily selloff being recaptured.
An overnight positive theme in Equities has led to a higher open this morning.
A move to 4022 will form an intraday bearish Gartley pattern.
There is scope for mild buying at the open but gains should be limited....
GBPCHF - 20h expiry - We look to Buy at 1.1310 (stop at 1.1260)
Previous resistance level of 1.1363 broken.
We are trading at overbought extremes.
A lower correction is expected.
Our short term bias remains positive.
We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
Our profit targets will be 1.1460 and...
