The Japanese yen is slightly weaker on Friday. In the European session, USD/JPY is trading just above the 135 line.
Incoming Bank of Japan Governor Kazuo Ueda appeared at a parliamentary hearing on Friday and the markets were all ears. The buzz-word from Ueda was 'continuity', which really wasn't a surprise. Ueda has already said that the current policy is...
DOW30 - Intraday - We look to Buy at 32960 (stop at 32760)
Bespoke support is located at 32960.
Bespoke support is located at 32940.
Majority of the initial daily losses being recaptured.
There is scope for mild selling at the open but losses should be limited.
A Fibonacci confluence area is located at 32960.
Our profit targets will be 33475 and 33690...
The Australian dollar has rebounded on Thursday, after a 2-day slide in which AUD/USD lost 100 points. In European trade, AUD/USD is trading at 0.6830, up 0.37%. On Wednesday, the Australian dollar fell to 0.6794, its lowest level since Jan. 6.
Australia's private capital expenditure jumped 2.2% q/q in Q4 2022, rebounding from 0.6% in Q3 and above the estimate of...
AUDUSD - Intraday - We look to Sell at 0.6885 (stop at 0.6925)
Buying pressure from 0.6794 resulted in prices rejecting the dip.
We are trading at oversold extremes.
A higher correction is expected.
The bias is still for lower levels and we look for any gains to be limited.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a...
USDCHF - Intraday - We look to Buy at 0.9275 (stop at 0.9249)
Short term bias has turned positive.
The bullish engulfing candle on the daily chart is positive for sentiment.
Prices dipped lower and stalled at support in early trade.
Further buying pressure led to a reversal in price action.
We look for gains to be extended today.
Our outlook is bullish....
NIK225 - 24h expiry - We look to Sell at 27310 (stop at 27425)
Previous support level of 27266 broken.
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
We are trading at oversold extremes.
Short term bias has turned negative.
A higher correction is expected.
We therefore, prefer to fade into the rally...
The Australian dollar has extended its losses on Wednesday. In North American trade, AUD/USD is trading at 0.6824, down 0.47%.
Australian wage growth was short of the forecast, with a gain of 0.8% q/q in Q4 2020. This was down from 1.1% in Q3 and below the forecast of 1.0%. Annual wage growth rose to 3.3%, up from 3.2% but below the estimate of 3.5%. This will be...
GER40 - Intraday - We look to Sell a break of 15279 (stop at 15359)
Overbought signals and exhaustion indicators offer fair reason to sell the index but we prefer to see a break of support before fading this impressive move.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
Short term indicators have turned...
RUSS2000 - Intraday - We look to Buy at 1910 (stop at 1890)
Selling pressure from 1939 resulted in all the initial daily gains being overturned.
The current move lower is expected to continue.
The bias is still for higher levels and we look for any dips to be limited.
Previous support located at 1900.
Preferred trade is to buy on dips.
Our profit targets...
The New Zealand dollar is slightly lower on Tuesday. NZD/USD declined over 0.50% earlier but has pared most of these losses and is trading at 0.6240, down 0.20%.
The Reserve Bank of New Zealand will meet on Wednesday, its first policy meeting this year. The Bank last met in November, at which time it hiked rates by a record 75 basis points, bringing the cash rate...
EURUSD - Intraday - We look to Buy at 1.0638 (stop at 1.0603)
Closed the day little net changed.
The overnight rally has been sold into and there is scope for further bearish pressure going into this morning.
A bullish reverse Head and Shoulders is forming.
Trend line support is located at 1.0632.
A break of resistance at 1.0697 should lead to a more...
EURCHF - Intraday - We look to Sell at 0.9906 (stop at 0.9928)
Price action continued to range between key support & resistance (0.9850 - 0.9900) and we expect this to continue.
Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end.
Although the market broke to the upside in early...
NZDJPY - 24h expiry - We look to Sell at 84.50 (stop at 85.00)
Previous support located at 83.50.
Previous resistance located at 84.00.
We are assessed as being in a large channel formation with the support level located at 82.50.
We are assessed as being in a large channel formation with the resistance level located at 85.00.
Rallies continue to attract...
The euro showed some volatility at the start of last week but since then it has been in calm waters and has stayed close to the 1.0.7 line. We'll get a look at eurozone and German PMIs on Tuesday.
The ECB has been criticized for sending mixed messages to the markets, but Christine Lagarde was crystal clear last week when she told EU lawmakers that “in view of...
GER40 - Intraday - We look to Buy at 15371 (stop at 15291)
Daily signals are bullish.
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
There is no clear indication that the upward move is coming to an end.
We look for a temporary move lower.
20 1day EMA is at 15340.
Our profit...
US500 - Intraday - We look to Sell at 4091 (stop at 4127)
Price action has posted a bearish Outside Day and is negative for short-term sentiment.
An overnight negative theme in Equities has led to a lower open this morning.
Bespoke support is located at 3997.
Previous support, now becomes resistance at 4091.
Bespoke resistance is located at 4091.
Our profit...
GBPJPY - Intraday - We look to Buy at 160.50 (stop at 159.95)
Buying pressure from 160.39 resulted in prices rejecting the dip.
Price action looks to be forming a bottom.
Short term bias is bullish.
The hourly chart technicals suggests further downside before the uptrend returns.
We look to buy dips.
Our profit targets will be 161.90 and 162.20...
GER40 - Intraday - We look to Buy at 15275 (stop at 15195)
Daily signals are bullish.
Short term momentum is bearish.
20 1day EMA is at 15305.
Bespoke support is located at 15300.
We expect prices to stall close to our bespoke level (15300).
Our profit targets will be 15475 and 15515
Resistance: 15500 / 15580 / 15660
Support: 15400 / 15350 / 15300
Risk...
