The euro has fallen for three straight sessions and has extended its losses on Tuesday. Earlier in the day, EUR/USD fell below the 1.07 line for the first time since Jan. 23.
German and eurozone numbers have been soft this week, adding to the euro's woes. Eurozone retail sales fell 2.7% in December, worse than the estimate of -2.5% and well off the November read...
GBPJPY - Intraday - We look to Buy at 157.70 (stop at 156.65)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
We are trading at overbought extremes.
A lower correction is expected.
Indecisive price action has resulted in sideways congestion on the intraday chart.
Preferred trade is to buy on dips.
Our...
GER40 - Intraday - We look to Buy at 15265 (stop at 15185)
Trades at the highest level in 50 weeks.
The previous swing high is located at 15272.
Our short term bias remains positive.
There is no clear indication that the upward move is coming to an end.
50 4hour EMA is at 15264.
We look to buy dips.
Our profit targets will be 15465 and 15495
Resistance:...
ASX200 - 24h expiry - We look to Buy at 7490 (stop at 7455)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
Price action looks to be forming a bottom.
The medium term bias remains bullish.
Preferred trade is to buy on dips.
Further upside is expected although we prefer to buy into dips close to the 7490...
The euro continues to lose ground and has started the week in negative territory. In the European session, EUR/USD is trading at 1.0783, down 0.19%. Earlier in the day, the euro has now fallen to its lowest level since Jan. 23.
The euro sent market participants on a roller-coaster ride last week. The Fed's rate increase pushed the euro higher by 1.16%, but the...
EURCHF - Intraday - We look to Sell at 1.0019 (stop at 1.0044)
Trend line resistance is located at 1.0021.
Prices expected to stall near trend line resistance.
Expect trading to remain mixed and volatile.
We look for a temporary move higher.
Our profit targets will be 0.9959 and 0.9949
Resistance: 0.9980 / 1.0000 / 1.0020
Support: 0.9960 / 0.9934 /...
USDCHF - Intraday - We look to Buy at 0.9201 (stop at 0.9169)
Yesterday's price action posted daily net gains of 127 pips.
We are trading at oversold extremes.
Short term bias has turned positive.
Bespoke support is located at 0.9195.
Our profit targets will be 0.9279 and 0.9289
Resistance: 0.9290 / 0.9315 / 0.9350
Support: 0.9250 / 0.9230 / 0.9195
Risk...
US500 - Intraday - We look to Buy at 4081 (stop at 4049)
Previous resistance level of 4141 broken. Majority of the initial daily gains being overturned.
Bespoke support is located at 4047.
The sequence for trading is higher highs and lows.
The bias is still for higher levels and we look for any dips to be limited.
Our profit targets will be 4153 and 4170...
GBPUSD - Intraday - We look to Sell at 1.2288 (stop at 1.2328)
The bearish engulfing candle on the daily chart is negative for sentiment.
A move lower has resulted in prices breaking from the previous range and confirmed our bearish expectation.
Bespoke resistance is located at 1.2300.
Although the anticipated move lower is corrective, it does offer ample...
The euro is catching its breath on Friday after some sharp swings over the past two days. EUR/USD is trading quietly at the 1.09 line.
This week's central bank rate announcements sent the euro on a roller-coaster ride. The Fed's 25-basis point hike pushed the euro higher by 1.16%, while the ECB hike of 50-bp sent the euro down by 0.76%. The end result is that the...
GER40 - Intraday - We look to Buy at 15326 (stop at 15246)
Daily signals are bullish.
There is no clear indication that the upward move is coming to an end.
Largest net daily gains in 21 days.
A break of the recent high at 15572 should result in a further move higher.
We look to buy dips.
20 4hour EMA is at 15319.
Our profit targets will be 15526 and...
NZDUSD - 24h expiry - We look to Buy at 0.6450 (stop at 0.6410)
Previous support located at 0.6450.
Previous resistance located at 0.6550.
Further upside is expected although we prefer to set longs at our bespoke support levels at 0.6450, resulting in improved risk/reward.
A move through 0.6550 will confirm the bullish momentum.
Our profit targets will be...
The British pound has posted sharp losses on Thursday and continues to lose ground in the North American session. GBP/USD is trading at 1.2251, down 0.98%.
The major central banks remain the focus of the market's attention. The Bank of England raised rates by 50 basis points, just one day after the Federal Reserve's 25-bp hike. This marked a second straight...
EURCHF - Intraday - We look to Sell at 1.0028 (stop at 1.0056)
Trend line resistance is located at 1.0030.
Prices expected to stall near trend line resistance.
Expect trading to remain mixed and volatile.
We look for a temporary move higher.
Our profit targets will be 0.9961 and 0.9951
Resistance: 1.0000 / 1.0020 / 1.0035
Support: 0.9975 / 0.9960 /...
NZDUSD - 24h expiry - We look to Buy at 0.6400 (stop at 0.6350)
Previous support located at 0.6400.
Previous resistance located at 0.6450.
A lower correction is expected.
Risk/Reward would be poor to call a buy from current levels.
We expect a reversal in this move.
A move through 0.6450 will confirm the bullish momentum.
Our profit targets will be 0.6520...
It has been a quiet week for the British pound, but that could change in a hurry, with the Fed announcing its rate decision later today, followed by the Bank of England on Thursday.
It's a virtual guarantee that the Federal Reserve will raise rates at today's meeting by 25 basis points. This would bring the benchmark rate to 4.75%. The Fed has had some success...
EURNZD - Intraday - We look to Sell at 1.6969 (stop at 1.7009)
Levels above 1.7000 continue to attract sellers.
Short term momentum is bullish.
Early optimism is likely to lead to gains although extended attempts higher are expected to fail.
We look for a temporary move higher.
Preferred trade is to sell into rallies.
Our profit targets will be 1.6869 and...
EURCHF - Intraday - We look to Sell at 0.9997 (stop at 1.0025)
Trading close to the psychological 1.0000 level.
Previous support at 1.0000 now becomes resistance.
Short term oscillators have turned negative.
We look for a temporary move higher.
Our profit targets will be 0.9928 and 0.9918
Resistance: 0.9970 / 1.0000 / 1.0030
Support: 0.9943 / 0.9920 /...
