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...
Welcome to the first trading day of the New Year.
Trading remains thin, as most markets are closed. In the European session, EUR/USD is trading at 1.0679, down 0.23%. I expect a quiet day for the euro.
There are no US events on the schedule. German Manufacturing PMI improved to 47.1 in December, up from 46.2 in November and shy of the consensus of 47.4 points....
GER40 - Intraday - We look to Buy at 13867 (stop at 13787)
Levels below 13860 continue to attract buyers.
Trading has been mixed and volatile.
Expect trading to remain mixed and volatile.
A lower correction is expected.
Our profit targets will be 14066 and 14096
Resistance: 14083 / 14160 / 14200
Support: 14000 / 13960 / 13860
Risk Disclaimer
The trade...
It's the last trading day of 2022, and EUR/USD is almost unchanged in what should be a quiet day in the currency markets. In the European session, EUR/USD is trading at 1.0674, up 0.13%.
The week between Christmas and New Year's is usually very light on data, and there were no tier-1 events in Germany or the eurozone this week. Earlier today, Spain released the...
GBPNZD - 21h expiry - We look to Buy at 1.8900 (stop at 1.8790)
Previous support located at 1.9000.
Previous resistance located at 1.9100.
We expect a reversal in this move.
Risk/Reward would be poor to call a buy from current levels.
A move through 1.9100 will confirm the bullish momentum.
Our profit targets will be 1.915 and 1.920
Resistance: 1.9100 /...
We're seeing limited movement in the currency markets this week, which is not uncommon during the week between Christmas and New Year's. Trading volume remains thin and the data calendar is very light. In the North American session, EUR/USD is trading at 1.0649, up 0.35%.
The US released unemployment claims today, one of the highlights in a quiet week. Initial...
USDCHF - Intraday - We look to Sell at 0.9327 (stop at 0.9351)
Price action continued to range between key support & resistance (0.9230 - 0.9330) although we expect a break of this range soon.
The bias is to break to the downside.
Daily signals are bearish.
Previous support at 0.9330 now becomes resistance.
Our profit targets will be 0.9268 and 0.9258...
The Japanese yen continues to lose ground this week and is in negative territory on Wednesday. In the European session, USD/JPY is trading at 134.11, up 0.49%.
Post-Christmas holiday trading remains thin, but USD/JPY has made steady gains and climbed 1% this week. The US dollar has recovered somewhat after last Tuesday's slide when it fell a staggering 3.8% after...
USDCHF - Intraday - We look to Buy at 0.9235 (stop at 0.9209)
Levels below 0.9240 continue to attract buyers.
Expect trading to remain mixed and volatile.
We look to buy dips.
We are trading at oversold extremes.
Our profit targets will be 0.9298 and 0.9308
Resistance: 0.9300 / 0.9320 / 0.9340
Support: 0.9280 / 0.9270 / 0.9250
Risk Disclaimer
The trade...
