EURCHF - Intraday - We look to Sell a break of 0.9824 (stop at 0.9846)
Short term bias has turned negative.
The trend of lower intraday highs has also been broken.
A break of the recent low at 0.9825 should result in a further move lower.
We look for losses to be extended today.
The bearish engulfing candle on the daily chart is negative for sentiment.
Our...
The Japanese yen has sent the dollar tumbling on Tuesday. USD/JPY has fallen 3.26% and is trading at 132.44 in Europe. In the Asian session, USD/JPY fell as low as 131.99 but has recovered slightly.
At the end of its policy meeting, the Bank of Japan stunned the markets with a change to its yield curve control (YCC). The BoJ announced it would widen the band...
FRA40 - Intraday - We look to Sell at 6500 (stop at 6585)
Previous support located at 6350.
Previous resistance located at 6450.
There is no clear indication that the downward move is coming to an end.
Risk/Reward would be poor to call a sell from current levels.
A move through 6350 will confirm the bearish momentum.
Our profit targets will be 6320 and...
EURCHF - Intraday - We look to Sell a break of 0.9824 (stop at 0.9846)
Short term bias has turned negative.
The trend of lower intraday highs has also been broken.
A break of the recent low at 0.9825 should result in a further move lower.
We look for losses to be extended today.
The bearish engulfing candle on the daily chart is negative for sentiment.
Our...
NZDUSD - 20h expiry - We look to Sell at 0.6425 (stop at 0.6465)
Previous support located at 0.6300.
Previous resistance located at 0.6400.
Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 0.6425, resulting in improved risk/reward.
A move through 0.6300 will confirm the bearish momentum.
Our profit targets...
The Japanese yen has started the week in positive territory. In the European session, USD/JPY is trading at 136.22, down 0.38%. The yen is coming off a busy week, as USD/JPY traded in a 350-point range but closed the week almost unchanged.
The markets are keeping an eye on April 2023, when Bank of Japan Governor Kuroda retires and a new governor is appointed....
USDCHF - Intraday - We look to Sell at 0.9368 (stop at 0.9393)
Current prices have reacted from a low of 0.9215, however, we expect further losses to follow.
Early optimism is likely to lead to gains although extended attempts higher are expected to fail.
Previous resistance located at 0.9365.
Our short term bias remains negative.
Our profit targets will be...
GER40 - Intraday - We look to Sell a break of 13838 (stop at 13931)
Our short term bias remains negative.
There is no clear indication that the downward move is coming to an end.
We look for losses to be extended today.
50 1day EMA is at 13900.
A break of the recent low at 13839 should result in a further move lower.
Further downside is expected and we...
EURCHF - Intraday - We look to Buy at 0.9847 (stop at 0.9825)
Trend line support is located at 0.9845.
Our short term bias remains positive.
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
Spikes (rejections) can be seen in both directions highlighting indecision.
Our profit...
Palladium - Intraday - We look to Buy a break of 1814.1 (stop at 1789.8)
We are trading at oversold extremes.
A break of the recent high at 1813.3 should result in a further move higher.
Posted a Double Bottom formation.
The bias is to break to the upside.
Our profit targets will be 1869.9 and 1874.9
Resistance: 1814 / 1830 / 1850
Support: 1800 / 1780 /...
Major central banks were in the spotlight this week, as the Federal Reserve and the European Central Bank raised rates by 50 basis points at their final meeting of the year. These moves overshadowed a 50 bp rate increase by the Swiss National Bank, where rate moves are unusual - this week's rate increase, which brought the benchmark rate to 1.0%, was only the...
The Australian dollar is sharply lower on Thursday. In North American trade, AUD/USD is trading at 0.6755, down 1.58%.
Australia's robust labour market continues to impress, with a stellar performance in November. The economy created 64,000 new jobs, above the October reading of 32,000 and blowing away the consensus of 19,000. The unemployment rate was unchanged...
NIK225 - 20h expiry - We look to Buy at 27510 (stop at 27290)
Selling pressure from 28166 resulted in all the initial daily gains being overturned.
The current move lower is expected to continue.
The medium term bias remains bullish.
We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
Our profit targets will...
GER40 - Intraday - We look to Buy at 14302 (stop at 14229)
Daily signals are bullish.
A lower correction is expected.
20 1day EMA is at 14302.
The 1 day moving average should provide support at 14300.
We look to buy dips.
We look for a temporary move lower.
Expect trading to remain mixed and volatile.
Our profit targets will be 14488 and 14538...
Palladium - Intraday - We look to Buy at 1865.1 (stop at 1842.9)
Trend line support is located at 1865.
Bespoke support is located at 1850.
We look to buy dips.
We look for a temporary move lower.
We are trading at oversold extremes.
Our profit targets will be 1918.8 and 1924.8
Resistance: 1930 / 1958 / 1987
Support: 1900 / 1880 / 1850
Risk...
ASX200 - 21h expiry - We look to Buy at 7160 (stop at 7120)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
A lower correction is expected.
The bias is still for higher levels and we look for any dips to be limited.
The 200 day moving average should provide support at 7141.
Preferred trade is to buy on...
All eyes are on the Federal Reserve, which winds up its policy meeting later today. Policy makers are expected to raise rates by 50 basis points at this final meeting of 2022, with an outside chance of a more aggressive 75 basis point hike. This year has set a record for tightening, but despite that, the Fed stills finds itself in an uphill battle to convince the...
USDCHF - Intraday - We look to Sell at 0.9329 (stop at 0.9353)
Our short term bias remains negative.
The bearish engulfing candle on the 4 hour chart is negative for sentiment.
20 4 hour EMA is at 0.9327.
Previous support at 0.9330 now becomes resistance.
Our profit targets will be 0.9271 and 0.9261
Resistance: 0.9300 / 0.9330 / 0.9350
Support: 0.9270 /...
