EUR/USD is showing limited movement on Wednesday. In the European session, the euro is almost unchanged at 1.0882.
The eurozone services sector continues to show growth, but the June numbers showed a deceleration. Eurozone PMI slowed to 52.0, shy of the consensus of 52.4 and down from 55.1 in May. This marked a five-month low. Germany's services sector stalled,...
Palladium - 24h expiry
We are trading at oversold extremes.
There is no clear indication that the downward move is coming to an end.
The current move lower is expected to continue.
Trading within a Bearish Channel formation.
Trend line resistance is located at 1248.
The sequence for trading is lower lows and highs.
We look to Sell at 1249.4 (stop at...
EURAUD - 24h expiry
The current move lower is expected to continue.
Rallies continue to attract sellers.
The RSI is trending lower.
Risk/Reward would be poor to call a sell from current levels.
A move through 1.9250 will confirm the bearish momentum.
We look to Sell at 1.6350 (stop at 1.6410)
Our profit targets will be 1.6210 and 1.6180
Resistance:...
EUR/USD is drifting downward on Tuesday. In the North American session, the euro is trading at 1.0898, down 0.15%. The US markets are closed for the July Fourth holiday, and we can expect limited movement from EUR/USD for the remainder of the day.
After disappointing German and eurozone Manufacturing PMIs on Monday, it's the turn of Services PMIs on Wednesday. ...
EURUSD - 24h expiry
Prices stalled near resistance and reversed lower.
Trend line resistance is located at 1.0920.
Further downside is expected.
Risk/Reward would be poor to call a sell from current levels.
Momentum is flat, highlighting the lack of clear direction.
We look to Sell at 1.0919 (stop at 1.0949)
Our profit targets will be 1.0844 and 1.0834...
NZDUSD - 24h expiry
Trend line resistance is located at 0.6160.
Price action has continued to trend strongly higher and has stalled at the previous resistance near 0.6160.
We expect a reversal in this move.
Momentum is flat, highlighting the lack of clear direction.
A move through 0.6130 will confirm the bearish momentum.
We look to Sell a break of 0.6125...
USDCHF - 24h expiry
The bearish engulfing candle on the 4 hour chart is negative for sentiment.
A higher correction is expected. Trend line support is located at 0.8940.
Price action continued to range between key support & resistance (0.8910 - 0.9000) although we expect a break of this range soon.
Expect trading to remain mixed and volatile.
We look to Buy...
The Australian dollar is showing some movement right off the bat on Monday. AUD/USD fell as much as 70 pips in the Asian session but has recovered most of those losses. In the European session, AUD/USD is trading at 0.6657 down 0.03%.
The Reserve Bank of Australia meets on Tuesday, and it's a coin-toss as to whether the central bank will raise rates for a third...
Brent - 24h expiry
Daily signals are bearish.
Trend line resistance is located at 76.60.
50 1day EMA is at 76.35.
We look for a temporary move higher.
Preferred trade is to sell into rallies.
We look to Sell at 76.39 (stop at 77.39)
Our profit targets will be 73.89 and 73.39
Resistance: 75.90 / 76.40 / 77.34
Support: 75.20 / 74.80 / 74.40
Risk...
EUR/USD is trading at 1.0872 in the European session, up 0.07%. The euro is under pressure and is down close to 100 pips since Tuesday.
Inflation in the eurozone continues to fall. Eurozone CPI is expected to fall to 5.5% in June, down from 6.1% in May and a notch below the consensus of 5.6%. Headline inflation has fallen to its lowest level since January...
The Canadian dollar is flat on Friday, trading at 1.3258 in the European session.
Canada releases GDP for May later on Friday. The consensus stands at 0.2% m/m, which translates into 2.4% annualized, a respectable gain. If the GDP report beats the consensus, the Canadian dollar could post gains.
Canada's economy showed strength in the first quarter, with a gain...
Palladium - 24h expiry
Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end.
Previous support level of 1262 broken.
We are trading at oversold extremes.
We look for a temporary move higher.
50 4hour EMA is at 1290.
We look to Sell at 1304.8 (stop at 1328.8)
Our profit targets...
GER40 - 24h expiry
Our short term bias remains negative.
The bearish engulfing candle on the weekly chart is negative for sentiment.
Bespoke resistance is located at 16070.
There is no clear indication that the downward move is coming to an end.
Preferred trade is to sell into rallies.
16081 has been pivotal.
We look to Sell at 16039 (stop at 16139)
Our...
NIK225 - 24h expiry
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
Price action looks to be forming a top.
A lower correction is expected.
Although the anticipated move lower is corrective, it does offer ample risk/reward today.
Further downside is expected although we prefer to sell into rallies close to...
US30 - 24h expiry
We are trading at overbought extremes.
A lower correction is expected.
Daily signals are bullish.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
Further upside is expected although we prefer to buy into dips close to the 33935 level.
We look to Buy at 33875...
EURCHF - 24h expiry
Bespoke support is located at 0.9755.
Previous resistance at 0.9755 now becomes support.
0.9750 continues to hold back the bears.
We look to buy dips.
Daily signals are mildly bullish.
We look to Buy at 0.9753 (stop at 0.9729)
Our profit targets will be 0.9813 and 0.9823
Resistance: 0.9795 / 0.9815 / 0.9830
Support: 0.9778 / 0.9765 /...
EURUSD - 24h expiry
Price action looks to be forming a top.
Price action has stalled at good resistance levels and currently trades just below here (1.0980).
Short term RSI is moving lower.
A move through 1.0920 will confirm the bearish momentum.
The measured move target is 1.0820.
We look to Sell a break of 1.0919 (stop at 1.0949)
Our profit targets...
US500 - 24h expiry
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
We are trading at overbought extremes.
The 50 day moving average should provide resistance at 4380.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower.
Preferred...
