US500 - Intraday - We look to Buy at 3858 (stop at 3818)
Levels close to the 61.8% pullback level of 3972 found sellers.
An overnight negative theme in Equities has led to a lower open this morning.
Intraday, and we are between bespoke support and resistance 3858-3983.
Immediate signals are hard to interpret.
Preferred trade is to buy on dips.
Our profit...
It has been a busy week for the euro, reflective of the gyrations we're seeing in the financial markets. EUR/USD has bounced back from a mid-week slide and is trading at 1.0661, up 0.46% on the day.
In the midst of market turmoil and fears of a full-blown financial crisis, the ECB held its rate meeting on Thursday and had everyone guessing about its intentions....
AUDJPY - Intraday - We look to Sell at 90.00 (stop at 90.75)
Previous support located at 89.00.
Previous resistance located at 89.50.
Broken out of the channel formation to the downside.
A higher correction is expected.
Further downside is expected.
Risk/Reward would be poor to call a sell from current levels.
A move through 89.00 will confirm the bearish...
EURNZD - Intraday -
Trend line support is located at 1.7030.
We look to buy dips.
We look for a temporary move lower.
Daily signals are mildly bullish.
50 1day EMA is at 1.7026.
We look to Buy at 1.7029 (stop at 1.6974)
Our profit targets will be 1.7159 and 1.7179
Resistance: 1.7200 / 1.7270 / 1.7300
Support: 1.7025 / 1.7000 / 1.6970
Risk...
EURAUD - 24h expiry - We look to Buy at 1.5900 (stop at 1.5800)
Previous support located at 1.5900.
Previous resistance located at 1.6000.
Trend line support is located at 1.5900.
We can see no technical reason for a change of trend.
We expect a reversal in this move.
Our profit targets will be 1.6150 and 1.6200
Resistance: 1.6000 / 1.6100 /...
The Australian dollar has taken investors on a roller-coaster ride this week, reflective of the gyrations we're seeing in the financial markets. In the North American session, AUD/USD is trading at 0.6656, up 0.56%.
Australia's employment report for February was stronger than expected. The economy produced 64,600 news jobs, after a decline of 10,900 in January....
AUDUSD - Intraday - We look to Sell at 0.6715 (stop at 0.6745)
Buying pressure from 0.6590 resulted in prices rejecting the dip.
The current move higher is expected to continue.
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....
GER40 - Intraday -
Short term oscillators have turned negative.
The trend of higher intraday lows has also been broken.
The sequence for trading is lower lows and highs.
Preferred trade is to sell into rallies.
50 4hour EMA is at 15242.
We look to Sell at 15229 (stop at 15329)
Our profit targets will be 14979 and 14939
Resistance: 15000 / 15120 /...
HS50 - 24h expiry - We look to Sell at 19635 (stop at 19901)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
A higher correction is expected.
The medium term bias remains bearish.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Further downside is...
NZDJPY - 24h expiry - We look to Buy a break of 82.50 (stop at 81.75)
Previous support located at 82.00.
Previous resistance located at 82.50.
The selloff is close to an exhaustion count on the intraday chart.
We expect a reversal in this move.
A move through 82.50 will confirm the bullish momentum.
Our profit targets will be 84.00 and 84.50
Resistance:...
The Australian dollar, which has posted strong gains early in the week, has run into a wall on Wednesday. In the European session, AUD/USD is trading at 0.6638, down 0.66%.
Australia releases the February employment report on Thursday (Australia time). Job growth is expected to rebound, with a consensus of 48,500 after a soft January read of -11,500. The...
UK100 - Intraday -
Previous support located at 7600.
Previous resistance located at 7650.
Price action has continued to trend strongly lower and has stalled at the previous support near 7500.
Price action looks to be forming a bottom.
Risk/Reward would be poor to call a buy from current levels.
A move through 7650 will confirm the bullish momentum.
We look...
NZDJPY - 24h expiry - We look to Buy at 83.00 (stop at 82.25)
Previous support located at 83.00.
Previous resistance located at 84.00.
Indecisive price action has resulted in sideways congestion on the daily chart.
Momentum is flat, highlighting the lack of clear direction.
Risk/Reward would be poor to call a buy from current levels.
Our profit targets...
The British pound has reversed directions after an impressive rally that saw GBP/USD climb 370 points. In the European session, GBP/USD is trading at 1.2154, down 0.24%.
The collapse of the Silicon Valley Bank (SVB) on Friday sent the financial markets into turmoil on Monday. US bank stocks declined sharply, while safe-haven gold powered higher. The US dollar...
EURNZD - Intraday - We look to Buy at 1.7145 (stop at 1.7105)
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.
20 1 day EMA is at 1.7145.
We look to buy dips.
We look for a temporary move lower.
Our profit targets will be 1.7245 and 1.7265
Resistance:...
USDCHF - Intraday -
There is no sign that this bearish momentum is faltering but the pair has stalled close to a previous swing low of 0.9059.
We are trading at oversold extremes.
Bullish divergence is expected to support prices.
We look to buy dips.
With signals for sentiment at oversold extremes, the dip could not be extended.
We look to Buy at 0.9077...
HS50 - 24h expiry - We look to Sell at 19820 (stop at 20150)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
A higher correction is expected.
The medium term bias remains bearish.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Further downside is...
The euro has posted sharp gains at the start of the week, extending its rally against a retreating US dollar. In the North American session, EUR/USD is trading at 1.0740, up 0.95% and its highest level since February 15.
Perhaps it is fitting that today's economic calendar has no US or European releases, allowing investors to focus their full attention on the...
