EURCHF - Intraday - We look to Sell a break of 0.9824 (stop at 0.9846)
Short term bias has turned negative.
The trend of lower intraday highs has also been broken.
A break of the recent low at 0.9825 should result in a further move lower.
We look for losses to be extended today.
The bearish engulfing candle on the daily chart is negative for sentiment.
Our...
NZDUSD - 20h expiry - We look to Sell at 0.6425 (stop at 0.6465)
Previous support located at 0.6300.
Previous resistance located at 0.6400.
Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 0.6425, resulting in improved risk/reward.
A move through 0.6300 will confirm the bearish momentum.
Our profit targets...
The Japanese yen has started the week in positive territory. In the European session, USD/JPY is trading at 136.22, down 0.38%. The yen is coming off a busy week, as USD/JPY traded in a 350-point range but closed the week almost unchanged.
The markets are keeping an eye on April 2023, when Bank of Japan Governor Kuroda retires and a new governor is appointed....
USDCHF - Intraday - We look to Sell at 0.9368 (stop at 0.9393)
Current prices have reacted from a low of 0.9215, however, we expect further losses to follow.
Early optimism is likely to lead to gains although extended attempts higher are expected to fail.
Previous resistance located at 0.9365.
Our short term bias remains negative.
Our profit targets will be...
GER40 - Intraday - We look to Sell a break of 13838 (stop at 13931)
Our short term bias remains negative.
There is no clear indication that the downward move is coming to an end.
We look for losses to be extended today.
50 1day EMA is at 13900.
A break of the recent low at 13839 should result in a further move lower.
Further downside is expected and we...
EURCHF - Intraday - We look to Buy at 0.9847 (stop at 0.9825)
Trend line support is located at 0.9845.
Our short term bias remains positive.
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
Spikes (rejections) can be seen in both directions highlighting indecision.
Our profit...
Palladium - Intraday - We look to Buy a break of 1814.1 (stop at 1789.8)
We are trading at oversold extremes.
A break of the recent high at 1813.3 should result in a further move higher.
Posted a Double Bottom formation.
The bias is to break to the upside.
Our profit targets will be 1869.9 and 1874.9
Resistance: 1814 / 1830 / 1850
Support: 1800 / 1780 /...
Major central banks were in the spotlight this week, as the Federal Reserve and the European Central Bank raised rates by 50 basis points at their final meeting of the year. These moves overshadowed a 50 bp rate increase by the Swiss National Bank, where rate moves are unusual - this week's rate increase, which brought the benchmark rate to 1.0%, was only the...
The Australian dollar is sharply lower on Thursday. In North American trade, AUD/USD is trading at 0.6755, down 1.58%.
Australia's robust labour market continues to impress, with a stellar performance in November. The economy created 64,000 new jobs, above the October reading of 32,000 and blowing away the consensus of 19,000. The unemployment rate was unchanged...
NIK225 - 20h expiry - We look to Buy at 27510 (stop at 27290)
Selling pressure from 28166 resulted in all the initial daily gains being overturned.
The current move lower is expected to continue.
The medium term bias remains bullish.
We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
Our profit targets will...
GER40 - Intraday - We look to Buy at 14302 (stop at 14229)
Daily signals are bullish.
A lower correction is expected.
20 1day EMA is at 14302.
The 1 day moving average should provide support at 14300.
We look to buy dips.
We look for a temporary move lower.
Expect trading to remain mixed and volatile.
Our profit targets will be 14488 and 14538...
Palladium - Intraday - We look to Buy at 1865.1 (stop at 1842.9)
Trend line support is located at 1865.
Bespoke support is located at 1850.
We look to buy dips.
We look for a temporary move lower.
We are trading at oversold extremes.
Our profit targets will be 1918.8 and 1924.8
Resistance: 1930 / 1958 / 1987
Support: 1900 / 1880 / 1850
Risk...
ASX200 - 21h expiry - We look to Buy at 7160 (stop at 7120)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
A lower correction is expected.
The bias is still for higher levels and we look for any dips to be limited.
The 200 day moving average should provide support at 7141.
Preferred trade is to buy on...
All eyes are on the Federal Reserve, which winds up its policy meeting later today. Policy makers are expected to raise rates by 50 basis points at this final meeting of 2022, with an outside chance of a more aggressive 75 basis point hike. This year has set a record for tightening, but despite that, the Fed stills finds itself in an uphill battle to convince the...
USDCHF - Intraday - We look to Sell at 0.9329 (stop at 0.9353)
Our short term bias remains negative.
The bearish engulfing candle on the 4 hour chart is negative for sentiment.
20 4 hour EMA is at 0.9327.
Previous support at 0.9330 now becomes resistance.
Our profit targets will be 0.9271 and 0.9261
Resistance: 0.9300 / 0.9330 / 0.9350
Support: 0.9270 /...
GER40 - Intraday - We look to Buy at 14381 (stop at 14309)
Short term momentum is bullish.
Short term bias has turned positive.
50 4hour EMA is at 14380.
Previous resistance at 14380 now becomes support.
We look for a temporary move lower.
We look to buy dips.
Daily signals are bullish.
Our profit targets will be 14558 and 14588
Resistance: 14500 /...
CHN50 - Intraday - We look to Buy at 13100 (stop at 13023)
Buying pressure from 13009 resulted in prices rejecting the dip.
This is positive for sentiment and the uptrend has potential to return.
Weekly pivot is at 13101.
Further upside is expected although we prefer to buy into dips close to the 13100 level.
Our profit targets will be 13320 and...
The Japanese yen is sharply higher on Tuesday. In the North American session, USD/JPY is trading at 134.97, down 1.95%.
The US dollar is in broad retreat after US CPI was softer than expected. The November reading dropped to 7.1% y/y, down from 7.7% in October and slightly lower than the 7.3% consensus. The trend was similar for core CPI, which dipped to 6.0%,...
