CHN50 - 21h expiry - We look to Sell at 12340 (stop at 12570)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
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 move...
The pound has posted sharp gains today. In the European session, GBP/USD is trading at 1.1353, up 0.66%.
Rashi Sunak is the new Prime Minister of the UK, the latest move in what has been a dizzying pace of political developments in the UK. Lizz Truss managed to stick around 10 Downing Street for a mere 44 days, after a mini-budget with unfunded tax cuts was a...
USDCHF - 11h expiry - We look to Buy at 0.9952 (stop at 0.9919)
Daily signals are bullish.
The trend of higher lows is located at 0.9950.
We look to buy dips.
Our profit targets will be 1.0029 and 1.0039
Resistance: 1.0030 / 1.0050 / 1.0070
Support: 0.9980 / 0.9960 / 0.9930
Risk Disclaimer
The trade ideas beyond this page are for informational purposes...
GER40 - 11h expiry - We look to Buy at 12761 (stop at 12677)
Our short term bias remains positive.
Bearish divergence can be seen on the 4 hour 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.
A lower correction is expected.
Bespoke support is located...
The Japanese yen is sharply lower today, as USD/JPY has climbed 1.2% and is trading at 149.41 in Europe.
The yen continues to exhibit strong swings for a second straight session. The yen started the week with sharp gains and jumped to 145.28, but the dollar has recovered and pushed the yen back above 149. This is a repeat of the whipshaw we saw on Friday, when...
NASDAQ - 8h expiry - We look to Buy at 11062 (stop at 10814)
Trading within a Bullish Channel formation.
A weaker opening is expected to challenge bullish resolve.
Support is located at 11000 and should stem dips to this area.
Dip buying offers good risk/reward.
Further upside is expected.
Our profit targets will be 11655 and 11800
Weekly...
USDCHF - Intraday - We look to Sell at 1.0049 (stop at 1.0079)
Rallies should be capped by yesterday's high.
Short term MACD has turned negative.
Preferred trade is to sell into rallies.
We look for a temporary move higher.
A Doji style candle has been posted from the high.
Our profit targets will be 0.9974 and 0.9964
Resistance: 1.0000 / 1.0020 /...
EURNZD - 11h expiry - We look to Sell at 1.7319 (stop at 1.7366)
Short term bias has turned negative.
Short term MACD has turned negative.
We look for a temporary move higher.
Preferred trade is to sell into rallies.
Our profit targets will be 1.7188 and 1.7168
Resistance: 1.7200 / 1.7240 / 1.7320
Support: 1.7130 / 1.7100 / 1.7060
Risk Disclaimer
The...
The British pound is showing strong volatility in the wake of Prime Minister's Truss resignation. Truss resigned on Thursday after just 44 days in office, and the pound jumped as much as 1% before paring most of the gains. The reality of the political maelstrom engulfing the UK has set in and GBP/USD has plunged 1.1% today. The currency has touched a low of...
EURUSD - 11h expiry - We look to Buy at 0.9754 (stop at 0.9708)
Daily signals are mildly bullish. We look for a temporary move lower.
Prices expected to stall near trend line support.
Dip buying offers good risk/reward.
Although the anticipated move higher is corrective, it does offer ample risk/reward today.
Our profit targets will be 0.9874 and 0.9925...
EURNZD - 11h expiry - We look to Sell at 1.7379 (stop at 1.7423)
Price action continued to range between key support & resistance (1.7270 - 1.7470) and we expect this to continue.
Preferred trade is to sell into rallies.
Short term bias has turned negative.
Bespoke resistance is located at 1.7400.
Early optimism is likely to lead to gains although extended...
GBPNZD - 22h expiry - We look to Buy at 1.9602 (stop at 1.9444)
Previous resistance located at 1.9700.
Previous resistance located at 1.9800.
A lower correction is expected.
Risk/Reward would be poor to call a buy from current levels.
We expect a reversal in this move.
Our profit targets will be 1.9970 and 2.0000
Resistance: 1.9800 / 1.9900 /...
USD/JPY is almost unchanged today but hit a milestone in the Asian session as it briefly darted above the 150 line, which has psychological significance. This marked the yen's lowest level since August 1990 as the currency continues to slide. The yen hasn't recorded a winning session since October 4th and has plunged about 600 points during this period. Later...
GER40 - 13h expiry - We look to Buy a break of 12816 (stop at 12739)
Short term bias has turned positive.
A break of bespoke resistance at 12800, and the move higher is already underway.
There is no clear indication that the upward move is coming to an end.
Our profit targets will be 12997 and 13047
Resistance: 12800 / 12900 / 13000
Support: 12700 / 12600...
USDCHF - Expires in 13h - We look to Sell at 1.0064 (stop at 1.0096)
We are trading at overbought extremes.
Posted a Treble Top formation.
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...
NIK225 - 22h expiry - We look to Sell at 27390 (stop at 27610)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
We are trading at overbought extremes.
Previous resistance located at 27397.
A lower correction is expected.
The hourly chart technicals suggests further upside before the downtrend returns. We...
AUD/USD is considerably lower today, trading at 0.6273, down 0.57%.
Australia releases employment data on Thursday, with the markets expecting that the report will show that the labour market remains robust. The economy is forecast to have created 25,000 jobs in September, following the 35,000 gain in August. Unemployment is expected to remain at 3.5%. The strong...
US500 - 8 hours expiry - We look to Sell at 3803 (stop at 3867)
Prices have continued the bullish move higher and resulted in 2 consecutive positive days.
A move higher faces tough resistance and we remain cautious on upside potential.
Preferred trade is to sell into rallies.
The primary trend remains bearish.
Our profit targets will be 3703 and...
