The British pound is drifting for a third straight day. In the European session, GBP/USD is trading at 1.2161, down 0.09%. We could see stronger volatility from the pound before the weekend, with the release of the US inflation report and UK GDP on Friday, both of which are market movers.
There is guarded optimism ahead of the US inflation report. Inflation is...
NZDUSD - 24h expiry - We look to Buy at 0.6300 (stop at 0.6225)
Previous support located at 0.6350.
Previous resistance located at 0.6400.
Further upside is expected although we prefer to set longs at our bespoke support levels at 0.6300, resulting in improved risk/reward.
A move through 0.6400 will confirm the bullish momentum.
Our profit targets will be...
The Japanese yen continues to have a quiet week. USD/JPY has edged up 0.20% and is trading at 132.50.
There is optimism in the air ahead of the US inflation report for December. The forecast is for inflation to fall, which is exactly what investors want to hear. The consensus for headline inflation stands at 6.5%, following the November gain of 7.1%. The core...
GER40 - Intraday - We look to Buy at 14702 (stop at 14619)
Our short term bias remains positive.
Prices look to be heading towards a new 44 week high.
A lower correction is expected.
20 4 hour EMA is at 14701.
We look to buy dips.
Our profit targets will be 14898 and 14938
Resistance: 14886 / 15000 / 15100
Support: 14800 / 14700 / 14625
Risk...
EURCHF - Intraday - We look to Buy a break of 0.9926 (stop at 0.9904)
Our short term bias remains positive.
0.9924 has been pivotal.
A break of bespoke resistance at 0.9924, and the move higher is already underway.
Short term momentum is bullish.
We look for gains to be extended today.
Our profit targets will be 0.9981 and 0.9991
Resistance: 0.9913 /...
NZDJPY - 24h expiry - We look to Sell at 85.00 (stop at 85.75)
Previous support located at 84.00.
Previous resistance located at 84.50.
We expect a reversal in this move.
Risk/Reward would be poor to call a sell from current levels.
A move through 84.00 will confirm the bearish momentum.
Our profit targets will be 82.50 and 82.00
Resistance: 84.50 /...
The Australian dollar is in negative territory on Tuesday. In the European session, AUD/USD is trading at 0.6898, down 0.21%. This follows a two-day rally in AUD/USD climbed over 2%.
It could be a busy week for the Australian dollar, with Australia releasing CPI on Wednesday, followed by the US on Thursday. Australian headline inflation dropped to 6.9% in...
US500 - Intraday - We look to Buy at 3867 (stop at 3842)
Selling pressure from 3951 resulted in all the initial daily gains being overturned.
An overnight negative theme in Equities has led to a lower open this morning.
Bespoke support is located at 3867.
A Fibonacci confluence area is located at 3815.
Although the anticipated move higher is corrective, it...
Palladium - Intraday - We look to Sell at 1820.8 (stop at 1842.3)
Daily signals are bearish.
Posted a Double Top formation.
1830 has been pivotal.
Rallies should be capped by yesterday's high.
We look for a temporary move higher.
Our profit targets will be 1767.7 and 1762.7
Resistance: 1780 / 1795 / 1815
Support: 1768 / 1755 / 1740
Risk Disclaimer
The...
ASX200 - 24h expiry - We look to Buy at 7105 (stop at 7065)
We are trading at overbought extremes.
A lower correction is expected.
Short term bias is bullish.
We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
Our profit targets will be 7220 and 7280
Resistance: 7340 / 7590 / 7800
Support: 7140 / 6965 /...
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...
