DOW30 - Intraday - We look to Sell at 33803 (stop at 33953)
A Fibonacci confluence area is located at 33803.
There is scope for mild buying at the open but gains should be limited.
Although the anticipated move lower is corrective, it does offer ample risk/reward today.
Further downside is expected and we prefer to set shorts in early trade.
Bespoke support...
GER40 - Intraday - We look to Buy at 14505 (stop at 14419)
Our short term bias remains positive.
We look to buy dips.
20 4hour EMA is at 14490.
Traded to the highest level in 40 weeks.
Our profit targets will be 14705 and 14745
Resistance: 14718 / 14750 / 14800
Support: 14600 / 14500 / 14400
Risk Disclaimer
The trade ideas beyond this page are for...
The Japanese yen is calm on Monday and is trading slightly higher, at 132.27. The yen ended the week on a strong note, posting gains of about 1% on Friday.
USD/JPY has shown significant volatility since late December. Last week, the pair traded in a range of over 500 points, which included breaking below the 130 line for the first time since May. We could see...
Palladium - Intraday - We look to Sell at 1789.8 (stop at 1818.1)
Our short term bias remains negative.
Trend line resistance is located at 1787.
Preferred trade is to sell into rallies.
Prices expected to stall near trend line resistance.
Our profit targets will be 1722.2 and 1713.2
Resistance: 1755 / 1770 / 1790
Support: 1735 / 1720 / 1710
Risk...
EURNZD - Intraday - We look to Sell at 1.6968 (stop at 1.7018)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
Early optimism is likely to lead to gains although extended attempts higher are expected to fail.
Bespoke resistance is located at 1.6970.
Preferred trade is to sell into rallies.
Our profit...
The Canadian dollar has edged lower on Friday. In the European session, USD/CAD is trading at 1.3620, up 0.36%. The first week of the new year has been busy. The Canadian dollar sparkled on Wednesday and climbed 1.4%, but has since pared most of those gains.
Canada and the US will wrap up the week with the December employment reports, which could mean some...
ASX200 - 24h expiry - We look to Sell at 7130 (stop at 7175)
We are trading at overbought extremes.
This is negative for sentiment and the downtrend has potential to return.
The hourly chart technicals suggests further upside before the downtrend returns.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Our...
EURCHF - Intraday - We look to Buy at 0.9825 (stop at 0.9805)
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
Expect trading to remain mixed and volatile.
Bespoke support is located at 0.9825. A lower correction is expected.
Levels below 0.9830 continue to attract buyers.
Our...
GER40 - Intraday - We look to Sell at 14582 (stop at 14677)
We are trading at overbought extremes.
Bespoke resistance is located at 14600.
The hourly chart technicals suggests further upside before the downtrend returns.
Early optimism is likely to lead to gains although extended attempts higher are expected to fail.
Bearish divergence is expected to cap...
The Australian dollar has posted limited losses on Thursday. In the European session, AUD/USD is trading at 0.6822, down 0.17%.
The Australian dollar rocketed higher on Wednesday, rising 1.6% and hitting a 3-week high. This followed reports that China was considering easing its ban on imports of Australian coal. The ban has been in place since 2020, but relations...
US500 - Intraday - We look to Buy at 3784 (stop at 3739)
Posted Mixed Daily results for the last 10 days.
Intraday, and we are between bespoke support and resistance 3747-3892.
Expect trading to remain mixed and volatile. Preferred trade is to buy on dips.
Our profit targets will be 3891 and 3920
Resistance: 3892 / 3950 / 4147
Support: 3747 / 3700 /...
The British pound has bounced back on Wednesday and recorded sharp gains. In the European session, GBP/USD is trading at 1.2055, up 0.74%.
Ask any British consumer, and they'll tell you that food prices have been going through the roof. The BRC provided data in that regard, stating that food inflation hit a record 13.3% in December, up from 12.4% in November. The...
UK100 - Intraday - We look to Buy at 7525 (stop at 7495)
Previous support located at 7525.
Previous resistance located at 7600.
Broken out of the channel formation to the upside.
Risk/Reward would be poor to call a buy from current levels.
A move through 7600 will confirm the bullish momentum.
Our profit targets will be 7605 and 7635
Resistance: 7600 /...
EURNZD - Intraday - We look to Sell at 1.6898 (stop at 1.6938)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end.
Bespoke resistance is located at 1.6900.
Preferred trade is to...
US500 - Intraday - We look to Sell at 3895 (stop at 3945)
Posted Mixed Daily results for the last 9 days.
Intraday, and we are between bespoke support and resistance 3747-3895.
Rallies continue to attract sellers.
The medium term bias is neutral.
Our profit targets will be 3747 and 3700
Resistance: 3895 / 4028 / 4140
Support: 3747 / 3700 / 3515
Risk...
The US dollar is showing strong gains against the majors on Tuesday, with the exception of the Japanese yen. EUR/USD has tumbled by 1.27% and is trading at 1.0528 in Europe.
EUR/USD is sharply lower today, despite a very light economic calendar. The only release of note is German CPI, which will be released later today. Despite the lack of fundamentals, the US...
EURCHF - Intraday - We look to Buy at 0.9825 (stop at 0.9805)
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
Expect trading to remain mixed and volatile.
Bespoke support is located at 0.9825. A lower correction is expected.
Levels below 0.9830 continue to attract buyers.
Our...
Palladium - Intraday - We look to Buy at 1755.1 (stop at 1729.2)
Short term bias has turned positive.
Levels below 1755 continue to attract buyers.
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
We look to buy dips.
We are trading at oversold extremes.
Our profit targets will be...
