US500 - Intraday - We look to Buy at 3975 (stop at 3955)
4 positive daily performances in succession.
An overnight negative theme in Equities has led to a lower open this morning.
Bespoke support is located at 3975.
The 261.8% Fibonacci extension is located at 4065 from 3763 to 3878.
Our profit targets will be 4022 and 4065
Resistance: 4022 / 4065 /...
GER40 - Intraday - We look to Buy at 15041 (stop at 14961)
Traded to the highest level in 46 weeks.
We are trading at overbought extremes.
A lower correction is expected.
20 4 hour EMA is at 15035.
We look to buy dips.
Our profit targets will be 15241 and 15281
Resistance: 15200 / 15300 / 15400
Support: 15050 / 14950 / 14900
Risk Disclaimer
The trade...
The British pound is slightly higher on Friday. GBP/USD is trading at 1.2234, up 0.24%. The pound has enjoyed a solid week, with gains of 1.2%.
US inflation continues to decline and slowed for a sixth straight month in December. Headline CPI fell to 6.5%, down from 7.1% and matching the estimate. The drop was driven by lower prices for gasoline as well as new and...
EURNZD - Intraday - We look to Buy at 1.6951 (stop at 1.6911)
A move higher has resulted in prices breaking from the previous range and confirmed our bullish expectation.
Previous resistance at 1.6970 now becomes support.
We look for a temporary move lower.
We look to buy dips.
The primary trend remains bullish.
Our profit targets will be 1.7071 and...
GER40 - Intraday - We look to Sell at 15119 (stop at 151201)
We are trading at overbought extremes.
Bearish divergence can be seen on the daily 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.
Although the bulls are in control, the stalling positive...
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...
