USDCHF - 24h expiry
Broken out of the channel formation to the downside.
Our short term bias remains negative.
Offers ample risk/reward to sell at the market.
The weaker US dollar has boosted performance.
20 4hour EMA is at 0.8801.
We look to Sell at 0.8799 (stop at 0.8839)
Our profit targets will be 0.8701 and 0.8681
Resistance: 0.8777 / 0.8800 /...
NZDJPY - 24h expiry
The primary trend remains bearish.
Bearish divergence is expected to cap gains.
Preferred trade is to sell into rallies.
Rallies should be capped by yesterday's high.
Bespoke resistance is located at 87.00.
We look to Sell at 87.00 (stop at 87.40)
Our profit targets will be 85.40 and 85.10
Resistance: 87.30 / 87.70 / 88.00
Support:...
EURJPY - 24h expiry
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
There is no sign that this bullish momentum is faltering but the pair has stalled close to a previous swing high of 162.36.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further...
he British pound has edged lower against the US dollar on Friday. GBP/USD is trading at 1.2928 in the European session, down 0.13% on the day.
The UK economy barely registered any growth in the second half of 2024, rising 0.1% in the third quarter and flatlining in the third quarter. The New Year hasn't seen any improvement, as GDP contracted 0.1% m/m in...
GBPUSD - 24h expiry
The medium term bias remains bullish.
Bearish divergence is expected to cap gains.
A lower correction is expected.
We look to buy dips.
Bespoke support is located at 1.2900.
We look to Buy at 1.2900 (stop at 1.2870)
Our profit targets will be 1.2990 and 1.3020
Resistance: 1.2970 / 1.2990 / 1.3020
Support: 1.2915 / 1.2860 /...
The Canadian dollar posted gains earlier but couldn't consolidate. In the European session, USD/CAD is trading at 1.4439, up 0.03% on the day.
It's decision day at the Bank of Canada, which is widely expected to lower rates by 25 basis points. This would lower the cash rate to 2.75%, its lowest level since July 2022. The BoC has been aggressive and has lowered...
The Japanese yen is showing movement in both directions today. In the North American session, USD/JPY is trading at 147.37, down 0.03% on the day.
Japan's GDP expanded 2.2% y/y in the fourth quarter of 2024, lower than the initial estimate of 2.8%. The revision was expected to stay largely unchanged but was pushed lower due to a decrease in inventories and...
USDCHF - 24h expiry
There is no clear indication that the downward move is coming to an end.
20 4hour EMA is at 0.8816.
Bespoke resistance is located at 0.8800.
Our outlook is bearish.
The weaker US dollar has boosted performance.
We look to Sell at 0.8803 (stop at 0.8843)
Our profit targets will be 0.8703 and 0.8683
Resistance: 0.8811 / 0.8830 /...
The Japanese yen has started the week with strong gains. In the European session, USD/JPY is trading at 147.07, down 0.766 on the day. Earlier, the yen strengthened to 146.72, its best level since Oct. 4, 2024.
Japan's wage data for January was mixed. Base pay for Japanese workers jumped by 3.1% y/y but more importantly, inflation-adjusted real wages declined by...
The euro has posted strong gains on Friday after taking a pause a day earlier. EUR/USD is trading at 1.0858 in the European session, up 0.69% on the day. It's been a remarkable week for the euro, which has soared 4.7% against the US dollar.
The ECB lowered rates by 25 basis points on Thursday in a widely-expected decision. This brings the deposit rate to 2.5%,...
CHN50 - 24h expiry
There is no clear indication that the upward move is coming to an end.
Although we remain bullish overall, a correction is possible with plenty of room to move lower without impacting the trend higher.
Short term RSI has turned positive.
Risk/Reward would be poor to call a buy from current levels.
A move through 13150 will confirm the...
The Canadian dollar is steady on Thursday after gaining around 1% over the past two days. In the European session, USD/CAD is trading at 1.4351, up 0.07% on the day. We could see some volatility from the Canadian dollar over the next two days, with the release of the Ivey PMI today and the employment report on Friday.
The Trump tariff saga took a twist on...
EURAUD - 24h expiry
We are trading at overbought extremes.
Bearish divergence is expected to cap gains.
The rally is close to a correction count on the daily chart.
We look to Sell a break of 1.6950.
A lower correction is expected.
We look to Sell a break of 1.6950 (stop at 1.7010)
Our profit targets will be 1.6740 and 1.6710
Resistance: 1.7070 / 1.7100...
The Australian dollar has extended its gains on Wednesday. AUD/USD is trading at 0.6271 in the European session, up 0.20% on the day. The Australian dollar jumped 0.75% on Tuesday, driven by the hawkish Reserve Bank of Australia minutes and a solid retail sales report.
Australia's economy expanded by 1.3% y/y in the fourth quarter of 2024, up from 0.8% in Q3...
JP225USD - 24h expiry
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
A higher correction is expected.
The primary trend remains bearish.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Further downside is expected although we prefer to sell into rallies...
The Australian dollar has edged higher on Tuesday. AUD/USD is trading at 0.6243 in the European session, up 0.28% on the day.
The Reserve Bank of Australia's minutes from the February meeting reiterated the central bank's cautious stance. The meeting marked a milestone as the RBA pressed the rate-cut trigger for the first time in four years, after maintaining...
AU200AUD - 24H expiry
Price action has continued to trend strongly lower and has stalled at the previous support near 8150.
Price action looks to be forming a bottom.
Risk/Reward would be poor to call a buy from current levels.
A move through 8250 will confirm the bullish momentum.
The measured move target is 8300.
We look to Buy at 8175 (stop at 8125)
Our...
The euro has charged out of the gates and posted strong gains on Monday. In the North American session, EUR/USD is trading at 1.0484, up 1.06%. With today's sharp gains, the euro has ended a three-day slide.
Inflation in the eurozone eased to 2.4% y/y in February, down from 2.5% in January but above the market estimate of 2.3%. Monthly, inflation jumped 0.5%,...
