DE30EUR - 24h expiry
Price action continues to trade around the all-time highs. Price action resulted in a new all-time high at 19050. Our short term bias remains positive. 50 4hour EMA is at 18663. A Morning Doji Star formation has been posted at the low.
We look to Buy at 18735 (stop at 18655)
Our profit targets will be 18935 and 18995
RR 2,5
Resistance:...
EURNZD - 24h expiry
Short term bias has turned negative.
50 4hour EMA is at 1.7919.
We look for a temporary move higher.
Daily signals are mildly bearish.
Rallies should be capped by yesterday's high.
We look to Sell at 1.7915 (stop at 1.7960)
Our profit targets will be 1.7795 and 1.7775
Resistance: 1.7900 / 1.7941 / 1.7970
Support: 1.7850 / 1.7823 /...
The US dollar has posted sharp gains on Friday. In the European session, USD/JPY is trading at 143.85, up 0.88% at the time of writing. The yen hit a 14-month high on Monday but the dollar has rebounded and is up 2.1% this week. It’s an unusually quiet Friday with no US events on the calendar.
The Bank of Japan held its rate decision just after the Federal...
The Australian dollar has posted sharp gains on Thursday. AUD/USD rose as much as 1% before paring most of those gains. In the North American session, the Australian dollar is trading at 0.6792, up 0.41% on the day.
Australia created 47.5 thousand jobs in August, close to the revised 48.9 thousand in July and crushing the market estimate of 25 thousand. The gains...
EURGBP - 24h expiry
Broken out of the channel formation to the downside.
Yesterday's Marabuzo is located at 0.8431.
Preferred trade is to sell into rallies.
The primary trend remains bearish.
We look for a temporary move higher.
We look to Sell at 0.8430 (stop at 0.8446)
Our profit targets will be 0.8390 and 0.8375
Resistance: 0.8420 / 0.8430 /...
The New Zealand dollar has posted gains on Wednesday. NZD/USD is trading at 0.6211 at the time of writing, up 0.44% on the day.
Federal Reserve meetings are traditionally predictable affairs and don’t move the needle of the financial markets. Fed decision makers signal their intentions ahead of time in order to minimize market volatility. Today’s decision is up...
NIK225 - 24h expiry
Buying pressure from 35998 resulted in prices rejecting the dip.
The current move higher is expected to continue.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
Further upside is expected, however, due to the strong resistance above we prefer to buy a break of...
The Japanese yen is down sharply on Tuesday. USD/JPY is up 0.73% today, trading at 141.64 in the North American session at the time of writing. On Monday, the yen pushed below 140 per dollar for the first time since July 2023.
The yen has looked razor sharp, gaining 2.9% in the month of September alone. The yen has surged a massive 15% in the third quarter, the...
GBPNZD - 24h expiry
The medium term bias remains bullish.
We look for a temporary move lower.
The sequence for trading is higher highs and lows.
Preferred trade is to buy on dips.
Bespoke support is located at 2.1230.
We look to Buy at 2.1230 (stop at 2.1200)
Our profit targets will be 2.1350 and 2.1410
Resistance: 2.1350 / 2.1410 / 2.1470
Support:...
The euro has posted strong gains on Monday. EUR/USD is trading at 1.1126 in the North American session at the time of writing, up 0.49% today. The euro is at its highest level since Sept. 6.
It’s a quiet day on the data calendar, with no tier-1 events. In the US, the Empire State Manufacturing index rebounded to 11.5 in September, much higher than the August...
EURNZD - 24h expiry
Short term bias has turned positive.
Mixed but positive price action has resulted in consecutive, narrow-ranged, sideways trading days.
We look to buy dips.
50 4hour EMA is at 1.7932.
Our outlook is bullish.
The sequence for trading is higher highs and lows.
We look to Buy at 1.7940 (stop at 1.7880)
Our profit targets will be 1.8090...
The euro has extended its gains on Friday. EUR/USD is trading at 1.1091 in the European session at the time of writing, up 0.13% today. The euro has climbed 0.7% since the ECB’s rate cut on Thursday.
The European Central Bank delivered as expected on Thursday, trimming the key interest rate by 25 basis points to 3.5%. This was the second rate cut in the current...
The New Zealand dollar is showing little movement on Thursday. NZD/USD is trading at 0.6139 at the time of writing, up 0.05% on the day.
New Zealand’s manufacturing sector has been in the doldrums, as the manufacturing PMI has posted 17 consecutive declines. Friday’s PMI is expected to improve to 47 in August, up from 44 in July (a reading below 50 points to...
The Japanese yen has extended its gains on Wednesday. USD/JPY fell as low as 140.70, its lowest level this year, before paring much of the losses. In the North American session, USD/JPY is trading at 141.71 at the time of writing, down 0.52% on the day.
The hotly-anticipated US inflation report didn’t shake up the markets as it was pretty much as advertised....
The British pound has edged lower on Tuesday. In the North American session, GBP/USD is trading at 1.3055, down 0.14% on the day.
UK wage growth eased in the three months to July, an encouraging sign for the Bank of England as it looks to continue lowering rates.
Average earnings excluding bonuses climbed 5.1% y/y, down from 5.4% in the previous period and in...
The euro has edged lower on Friday. EUR/USD is trading at 1.1088 in the North American session at the time of writing, down 0.20%.
Today’s US nonfarm payrolls wasn’t a disaster but certainly nothing to smile about. The economy created 142 thousand new jobs in August, better than the July gain of 114 thousand but short of the market estimate of 160 thousand. The...
The Japanese yen has posted gains on Thursday. In the North American session, USD/JPY is trading at 143.27 at the time of writing, down 0.33% on the day. The yen continues to pummel the US dollar and is up 1.9% this week. Since July 1, the yen has surged a massive 10.7%.
Average cash earnings in Japan rose 3.6% y/y in July, down from 4.5% in June, which was the...
The Australian dollar is drifting on Wednesday. AUD/USD is trading at 0.6704 in the European session, down 0.10% today at the time of writing. The Australian dollar took a bath a day earlier, sliding 1.1%, one of the sharpest daily declines this year.
Australia’s economy gained a paltry 0.2% q/q in the second quarter, shy of the market estimate of 0.3% and...
