RUSS2000 - Intraday - We look to Buy at 1910 (stop at 1890)
Selling pressure from 1939 resulted in all the initial daily gains being overturned.
The current move lower is expected to continue.
The bias is still for higher levels and we look for any dips to be limited.
Previous support located at 1900.
Preferred trade is to buy on dips.
Our profit targets...
The New Zealand dollar is slightly lower on Tuesday. NZD/USD declined over 0.50% earlier but has pared most of these losses and is trading at 0.6240, down 0.20%.
The Reserve Bank of New Zealand will meet on Wednesday, its first policy meeting this year. The Bank last met in November, at which time it hiked rates by a record 75 basis points, bringing the cash rate...
EURUSD - Intraday - We look to Buy at 1.0638 (stop at 1.0603)
Closed the day little net changed.
The overnight rally has been sold into and there is scope for further bearish pressure going into this morning.
A bullish reverse Head and Shoulders is forming.
Trend line support is located at 1.0632.
A break of resistance at 1.0697 should lead to a more...
EURCHF - Intraday - We look to Sell at 0.9906 (stop at 0.9928)
Price action continued to range between key support & resistance (0.9850 - 0.9900) and we expect this to continue.
Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end.
Although the market broke to the upside in early...
NZDJPY - 24h expiry - We look to Sell at 84.50 (stop at 85.00)
Previous support located at 83.50.
Previous resistance located at 84.00.
We are assessed as being in a large channel formation with the support level located at 82.50.
We are assessed as being in a large channel formation with the resistance level located at 85.00.
Rallies continue to attract...
The euro showed some volatility at the start of last week but since then it has been in calm waters and has stayed close to the 1.0.7 line. We'll get a look at eurozone and German PMIs on Tuesday.
The ECB has been criticized for sending mixed messages to the markets, but Christine Lagarde was crystal clear last week when she told EU lawmakers that “in view of...
GER40 - Intraday - We look to Buy at 15371 (stop at 15291)
Daily signals are bullish.
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
There is no clear indication that the upward move is coming to an end.
We look for a temporary move lower.
20 1day EMA is at 15340.
Our profit...
US500 - Intraday - We look to Sell at 4091 (stop at 4127)
Price action has posted a bearish Outside Day and is negative for short-term sentiment.
An overnight negative theme in Equities has led to a lower open this morning.
Bespoke support is located at 3997.
Previous support, now becomes resistance at 4091.
Bespoke resistance is located at 4091.
Our profit...
GBPJPY - Intraday - We look to Buy at 160.50 (stop at 159.95)
Buying pressure from 160.39 resulted in prices rejecting the dip.
Price action looks to be forming a bottom.
Short term bias is bullish.
The hourly chart technicals suggests further downside before the uptrend returns.
We look to buy dips.
Our profit targets will be 161.90 and 162.20...
GER40 - Intraday - We look to Buy at 15275 (stop at 15195)
Daily signals are bullish.
Short term momentum is bearish.
20 1day EMA is at 15305.
Bespoke support is located at 15300.
We expect prices to stall close to our bespoke level (15300).
Our profit targets will be 15475 and 15515
Resistance: 15500 / 15580 / 15660
Support: 15400 / 15350 / 15300
Risk...
The euro is down for a third straight day and fell earlier to 1.0629, its lowest level since Jan. 23. In the European session, EUR/USD is trading at 1.0639, down 0.30%.
The US dollar is showing some strength this week against the majors, as US data continues to shine. Retail sales impressed with a 3% gain earlier this week, and PPI and unemployment claims were...
The British pound has steadied on Thursday. In the European session, GBP/USD is trading at 1.2053, up 0.25%. This follows a sharp drop of 1.2% a day earlier.
UK inflation continues to fall but remains disturbingly high. Headline inflation fell to 10.1% in January, down from 10.5% in December and below the consensus of 10.3%. The drop in inflation is welcome news,...
NASDAQ - Intraday - We look to Buy at 12404 (stop at 12293)
Posted Mixed Daily results for the last 9 days.
An overnight negative theme in Equities has led to a lower open this morning.
A sequence of intraday higher highs and lows has been posted.
Bespoke support is located at 12383.
A Fibonacci confluence area is located at 13347.
Our profit targets will...
Gold - Intraday - We look to Buy at 1834 (stop at 1822)
Intraday, and we are between bespoke support and resistance 1834-1843.
A break of resistance at 1843 should lead to a more aggressive move higher towards 1871.
There is no clear indication that the upward move is coming to an end.
Further upside is expected and we look to set longs in early trade.
The...
EURCHF - Intraday - We look to Sell at 0.9906 (stop at 0.9928)
Price action continued to range between key support & resistance (0.9850 - 0.9900) and we expect this to continue.
Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end.
Setbacks should be limited to yesterday's low.
The...
NZDJPY - 24h expiry - We look to Sell at 84.95 (stop at 85.80)
Previous support located at 83.00.
Previous resistance located at 84.50.
Indecisive price action has resulted in sideways congestion on the intraday chart.
Resistance could prove difficult to breakdown.
Risk/Reward would be poor to call a sell from current levels.
Our profit targets will be...
It has been a disastrous session for AUD/USD, which has plunged 1.26% and is trading at 0.6899.
RBA Governor Philip Lowe faced a grilling from Australian lawmakers earlier. Higher rates and high inflation have caused a cost-of-living crisis and the RBA has been heavily criticised for the sharp rate-tightening cycle.
Lowe confirmed that more rate hikes were on...
UK100 - Intraday - We look to Sell a break of 7899 (stop at 7943)
Previous support located at 7900.
Previous resistance located at 7975.
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.
Price action looks to...
