NASDAQ - 21h expiry - We look to Buy at 11300 (stop at 11052)
Buying pressure from 10840 resulted in prices rejecting the dip.
The reaction higher is positive and highlights a clear reversal.
We look for gains to be extended today.
Further upside is expected although we prefer to buy into dips close to the 11300 level.
Our profit targets will be 11872 and...
USDCHF - Intraday - We look to Sell a break of 0.9784 (stop at 0.9811)
Short term momentum is bearish.
The bearish engulfing candle on the daily chart is negative for sentiment.
A break of the recent low at 0.9785 should result in a further move lower.
Posted a Double Top formation.
There is no indication that the selloff is coming to an end.
Our profit...
ASX200 - 22h expiry - We look to Sell at 6860 (stop at 6950)
Posted a Double Bottom formation.
The 1 day moving average should provide resistance at 6790.
We have a 61.8% Fibonacci pullback level of 6857 from 7138 to 6410.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower.
Preferred...
US500 - Intraday - We look to Buy at 3674 (stop at 3598)
Following yesterday's bullish candle, the overall trend higher looks set to continue today.
A weaker opening is expected to challenge bullish resolve.
Support is located at 3670 and should stem dips to this area.
Preferred trade is to buy on dips.
Our profit targets will be 3850 and 3900
Resistance:...
The New Zealand dollar continues to rally. In the European session, NZD/USD is trading at 0.5746, up 0.43%.
The Reserve Bank of New Zealand holds a meeting on Wednesday. The RBNZ has been aggressive with its rate tightening and is expected to raise rates by 0.50%, which would bring the cash rate to 3.50%, the highest since 2015. Governor Orr has hinted that the...
USDCHF - 9pm UK expiry - We look to Sell at 0.9959 (stop at 0.9981)
Although the bulls are in control, the stalling positive momentum indicates a possible turnaround.
Posted a Double Top formation.
0.9966 has been pivotal.
We look for a temporary move higher.
Our profit targets will be 0.9896 and 0.9886
Resistance: 0.9930 / 0.9950 / 0.9966
Support: 0.9900...
EURAUD - Intraday - We look to Buy at 1.5000 (stop at 1.4925)
Previous support located at 1.5050.
Previous resistance located at 1.5100.
A lower correction is expected.
Risk/Reward would be poor to call a buy from current levels.
A move through 1.5100 will confirm the bullish momentum.
Our profit targets will be 1.5150 and 1.5200
Resistance: 1.5100 /...
AUDJPY - Intraday - We look to Sell at 94.00 (stop at 94.70)
Previous support located at 93.00.
Previous resistance located at 93.50.
Indecisive price action has resulted in sideways congestion on the intraday chart.
A move through 93.00 will confirm the bearish momentum.
Our profit targets will be 92.50 and 92.00
Resistance: 93.50 / 94.00 /...
AUD/USD has started the trading week with strong gains. The Aussie is trading at 0.6447, up 0.67%.
Is the nasty slide over? The Australian dollar is coming off a third straight losing week. September was a disaster, as AUD/USD plummeted 6.4%. The escalation in the war in Ukraine, which has sapped risk sentiment, and the aggressive Federal Reserve have dampened...
USDCHF - Intraday 9pm uk - We look to Sell at 0.9953 (stop at 0.9977)
A break of bespoke resistance at 0.9880, and the move higher is already underway.
Posted a Double Top formation.
0.9966 has been pivotal.
We look for a temporary move higher.
Our profit targets will be 0.9891 and 0.9881
Resistance: 0.9870 / 0.9900 / 0.9950
Support: 0.9840 / 0.9800 /...
DOW30 - Intraday - We look to Sell at 29608 (stop at 29955)
The primary trend remains bearish.
We are assessed to be in a corrective mode higher.
Bespoke resistance is located at 29700.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Our profit targets will be 28828 and 28600
Resistance: 29700 / 31100 /...
The euro is showing limited movement today, after a two-day rally. In the European session, EUR/USD is trading at 0.9759, down 0.55%.
It has been a week of swings for the euro, which has traded in a 300-point range. The euro has been under strong pressure, and is down 2.5% in September, as the euro continues to drop further away from the psychologically-important...
USDCHF - Intraday 9pm UK expiry - We look to Sell at 0.9845 (stop at 0.9871)
The current move lower is expected to continue. We look for a temporary move higher. Preferred trade is to sell into rallies. The previous swing high is located at 0.9855.
Our profit targets will be 0.9787 and 0.9777
Resistance: 0.9780 / 0.9800 / 0.9820
Support: 0.9740 / 0.9720 /...
EURAUD - 24h expiry - We look to Buy at 1.4900 (stop at 1.4825)
Previous support located at 1.4950. Previous resistance located at 1.5000.
There is no clear indication that the upward move is coming to an end.
Risk/Reward would be poor to call a buy from current levels.
A move through 1.5000 will confirm the bullish momentum.
Our profit targets will be...
The yen has reversed directions today and is in negative territory. In the North American session, USD/JPY is trading at 144.59, up 0.33%. Japan releases a data dump later today, highlighted by retail sales for August. The headline reading is expected to rise to 2.8%, following a 2.4% gain in July.
It was exactly a week ago that the yen went on a spectacular...
The roller-coaster continues for the British pound, which is down sharply today. In the European session, GBP/USD is trading at 1.0774, down 1.05%.
It has been a remarkable week for the British pound, which has exhibited sharp volatility since Friday, when Chancellor Kwarteng unveiled his mini-budget. The package included unfunded tax cuts, despite weak a weak...
USDCAD - Intraday - We look to Buy at 1.3575 (stop at 1.3515)
Previous support located at 1.3600.
Previous resistance located at 1.3695.
We expect a reversal in this move.
Risk/Reward would be poor to call a buy from current levels.
A move through 1.3650 will confirm the bullish momentum.
Our profit targets will be 1.3695 and 1.3700
Resistance: 1.3695 /...
EURNZD - Intraday - We look to Buy at 1.6971 (stop at 1.6933)
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
20 4hour EMA is at 1.6976.
We look to buy dips.
There is no clear indication that the upward move is coming to an end.
Our profit targets will be 1.7066 and 1.7086...
