US500 - Intraday - We look to Sell at 4151 (stop at 4186)
Trading within a Corrective Channel formation.
Trend line resistance is located at 4154.
Bespoke resistance is located at 4151.
Preferred trade is to sell into rallies.
The medium term bias is neutral.
Our profit targets will be 4074 and 4041
Resistance: 4151 / 4154 / 4194
Support: 4074 / 4041 /...
Palladium - Intraday - We look to Sell at 1588.5 (stop at 1611.9)
Trades at the lowest level in 60 weeks.
We are trading at oversold extremes.
There is no clear indication that the downward move is coming to an end.
Previous support at 1590 now becomes resistance.
We look for a temporary move higher.
Our profit targets will be 1530.1 and 1525.1...
It has been a busy day for the Japanese yen, which jumped as much as 1.1% today before paring most of those gains. In the European session, USD/JPY is trading at 131.04, down 0.37%.
The Japanese yen posted sharp gains after a Nikkei report that Kazua Ueda would be selected as the Bank of Japan's next governor. Ueda is a former member of BoJ's policy board and...
FRA40 - Intraday - We look to Buy at 7100 (stop at 7035)
Previous support located at 7150.
Previous resistance located at 7200.
There is no clear indication that the upward move is coming to an end.
Short term RSI has turned positive. Risk/Reward would be poor to call a buy from current levels.
A move through 7200 will confirm the bullish momentum.
Our...
EURUSD - Intraday - We look to Sell at 1.0743 (stop at 1.0792)
Broken out of the channel formation to the downside.
Buying posted in Asia.
Reverse trend line resistance comes in at 1.0742.
The 261.8% Fibonacci extension is located at 1.0595 from 1.0787 to 1.0714.
Bespoke support is located at 1.0595.
Although the anticipated move lower is corrective, it...
Gold - Intraday - We look to Sell at 1882 (stop at 1896)
Inside Soldiers have been posted on the daily chart.
Trading within a Corrective Channel formation.
Intraday, and we are between bespoke support and resistance 1843-1895.
The 261.8% Fibonacci extension is located at 1841 from 1886 to 1868.
Further downside is expected and we prefer to set shorts in...
GER40 - Intraday - We look to Buy at 15422 (stop at 15342)
There is no clear indication that the upward move is coming to an end.
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 4hour EMA is at 15421.
A lower correction is expected.
Our profit...
US500 - Intraday - We look to Buy at 4115 (stop at 4075)
There is no clear indication that the upward move is coming to an end.
A move higher faces tough resistance and we remain cautious on upside potential.
Intraday, and we are between bespoke support and resistance 4115-4220.
Preferred trade is to buy on dips.
Intraday signals are far from strong.
Our...
The British pound is in positive territory on Wednesday. In the European session, GBP/USD is trading at 1.2107, up 0.47%. The pound is recovering from a nasty slide of almost 400 points, in which it dropped below the 1.20 line for the first time since Jan. 23.
The equity markets were nervous ahead of Fed Chair Powell's remarks at an event in Washington on...
EURJPY - Intraday - We look to Buy at 140.10 (stop at 139.50)
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.
Indecisive price action has...
EURCHF - Intraday - We look to Sell at 0.9942 (stop at 0.9968)
Our bespoke support of 0.9940 has been clearly broken.
Previous support at 0.9940 now becomes resistance.
Our short term bias remains negative.
We look for a temporary move higher.
Preferred trade is to sell into rallies.
Our profit targets will be 0.9881 and 0.9871
Resistance: 0.9900 /...
GBPNZD - Intraday - We look to Buy at 1.8950 (stop at 1.8875)
Previous support located at 1.9000.
Previous resistance located at 1.9100.
Price action has continued to trend strongly lower and has stalled at the previous support near 1.8950.
Risk/Reward would be poor to call a buy from current levels.
A move through 1.9100 will confirm the bullish momentum....
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 /...
