AUDUSD - 24h expiry -
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
Short term bias is mildly bullish.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
The hourly chart technicals suggests further downside before the uptrend...
NZDUSD - 24h expiry - We look to Buy at 0.6275 (stop at 0.6225)
Previous support located at 0.6300.
Previous resistance located at 0.6350.
We can see no technical reason for a change of trend.
Further upside is expected.
Dips continue to attract buyers.
Our profit targets will be 0.6375 and 0.6400
Resistance: 0.6350 / 0.6375 / 0.6400
Support: 0.6300 /...
The New Zealand dollar is showing sharp movement on Wednesday after the Reserve Bank of New Zealand shocked the markets and raised rates by 50 basis points. In the US, JOLTS Jobs Openings was below expectations, raising concerns about the strength of the US labour market.
In the European session, NZD/USD is trading at 0.6296, down 0.24%.
The RBNZ gets the prize...
USDCHF - 24h expiry - We look to Sell at 0.9129 (stop at 0.9159)
Trades at the lowest level in 19months.
Previous support at 0.9125 now becomes resistance.
We are trading at oversold extremes.
Our short term bias remains negative.
Preferred trade is to sell into rallies.
We look for a temporary move higher.
Our profit targets will be 0.9059 and 0.9049...
GER40 - 24h expiry -
We are trading at overbought extremes.
Bearish divergence can be seen on the 4 hour chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower.
The bearish engulfing candle on the 4 hour chart is negative for sentiment.
Although the bulls are...
NIK225 - 24h expiry - We look to Buy at 27855 (stop at 27635)
We are trading at overbought extremes.
A lower correction is expected.
The bias is still for higher levels and we look for any dips to be limited.
The hourly chart technicals suggests further downside before the uptrend returns.
Further upside is expected although we prefer to buy into dips close...
The New Zealand dollar is almost unchanged ahead of the Reserve Bank of New Zealand (RBNZ) rate decision on Wednesday (New Zealand time). The US releases JOLTS Job Openings.
NZD/USD is trading quietly at the 0.63 line in the European session.
The RBNZ is widely expected to raise rates by 25 basis points, which would bring the benchmark cash rate to 5.0%. Over...
GER40 - 24h expiry -
We are trading at overbought extremes.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
15708 has been pivotal.
A higher correction is expected.
Rallies should be capped by yesterday's high.
We look to Sell at 15699 (stop at 15819)
Our profit targets will be 15401 and 15341...
NIK225 - 24h expiry - We look to Buy at 28098 (stop at 27940)
Price action continued to range between key support & resistance (25535 - 28653) and we expect this to continue.
Short term bias is bullish.
Bespoke support is located at 28098.
Preferred trade is to buy on dips.
Expect trading to remain mixed and volatile.
Our profit targets will be 28469 and...
The Australian dollar has edged higher at the start of the week. In the European session, AUD/USD is trading at 0.6715, up 0.45%. The RBA meets on Tuesday (Australia time) and is expected to pause rates. The US releases ISM Manufacturing PMI, which is expected to record another decline.
The RBA has aggressively tightened interest rates in the current cycle,...
EURJPY - 24h expiry - We look to Sell at 145.55 (stop at 146.20)
Buying pressure from 143.62 resulted in prices rejecting the dip.
The current move higher is expected to continue.
Daily signals for sentiment are at overbought extremes.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction...
USDJPY - 24h expiry -
Majority of the initial daily gains being overturned.
The overnight dip has been bought into and there is scope for further bullish pressure going into this morning.
Intraday, and we are between bespoke support and resistance 132.75-133.53.
The sequence for trading is higher highs and lows.
The 261.8% Fibonacci extension is located at...
EUR/USD is slightly lower on Friday. In the European session, EUR/USD is trading at 1.0883, down 0.21%. The euro continues to look sharp and is poised to record its fifth winning week in a row. Eurozone headline inflation fell sharply, but the core rate ticked higher. In the US, the Core PCE Price Index was within expectations.
ECB policy makers must be pinching...
Gold - 24h expiry - We look to Sell at 1986 (stop at 2002)
Posted Mixed Daily results for the last 8 days.
Trading within a Corrective Channel formation.
The medium term bias remains bullish.
Selling spikes offers good risk/reward.
Trend line resistance is located at 1986.
Our profit targets will be 1922 and 1920
Resistance: 1986 / 1995 / 2018
Support:...
NASDAQ - 24h expiry - We look to Buy at 12677 (stop at 12577)
Traded to the highest level in 30 weeks.
There is no clear indication that the upward move is coming to an end.
An overnight negative theme in Equities has led to a lower open this morning.
Bespoke support is located at 12677.
12682 has been pivotal.
Our profit targets will be 12927 and...
AUDUSD -
Prices spiked higher and stalled at resistance in early trade.
Further selling pressure led to a reversal in price action.
The 200 day moving average should provide resistance at 0.6731.
The medium term bias remains bearish.
Previous resistance located at 0.6755.
Preferred trade is to sell into rallies.
24h expiry - We look to Sell at 0.6755...
NZDJPY - 24h expiry - We look to Buy at 82.25 (stop at 81.60)
Previous support located at 82.50.
Previous resistance located at 83.00.
The trend of lower intraday highs has also been broken.
Further upside is expected.
Risk/Reward would be poor to call a buy from current levels.
Our profit targets will be 83.75 and 84.00
Resistance: 83.00 / 83.50 /...
USD/JPY is posted gains on Thursday after dropping sharply a day earlier. In the North American session, USD/JPY is trading at 132.45, down 0.31%. Later today, we'll get a look at Tokyo Core CPI, a key inflation measure.
Wednesday was a day to forget for the Japanese yen, which lost 1.5% against the US dollar. USD/JPY touched a high of 132.89, its highest level...
