HS50 - 22h expiry - We look to Sell at 16695 (stop at 17020)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
A Doji style candle has been posted from the high.
This is negative for sentiment and the downtrend has potential to return.
Further downside is expected although we prefer to sell into rallies...
GBP/USD has edged lower today, after starting the week with sharp gains. In the North American session, GBP/USD is trading at 1.1334, down 0.18%.
The pound continues to show strong volatility as the political saga continues in the UK. Truss finally stopped blaming the markets and "global headwinds" for the decline of the British pound and UK gilts on Monday,...
USD/JPY has edged higher today and is currently trading at 149.17. The yen has fallen for eight straight sessions, losing 500 points in that time.
The yen continues to set new 24-year-old lows as the dollar/yen has pushed above the 149 line. This is a higher level than when the government intervened last month, which marked the first intervention since 1998....
USDCHF - Intraday 9pm uk expiry - We look to Sell a break of 0.9914 (stop at 0.9945)
The bearish engulfing candle on the daily chart is negative for sentiment.
A break of the recent low at 0.9915 should result in a further move lower.
We look for losses to be extended today.
Short term bias has turned negative.
Our profit targets will be 0.9842 and 0.9832...
GER40 - Intraday 9pm UK expiry - We look to Buy at 12534 (stop at 12444)
Short term bias has turned positive.
A lower correction is expected.
Bespoke support is located at 12500.
We look to buy dips.
Our profit targets will be 12744 and 12794
Resistance: 12900 / 13000 / 13100
Support: 12800 / 12700 / 12600
Risk Disclaimer
The trade ideas beyond this...
NZDJPY - 22h expiry - We look to Buy at 83.00 (stop at 82.35)
Previous support located at 83.50.
Previous resistance located at 84.00.
Price action looks to be forming a bottom.
A move through 84.00 will confirm the bullish momentum.
Our profit targets will be 84.50 and 85.00
Resistance: 84.00 / 84.50 / 85.00
Support: 83.50 / 83.00 / 82.50
Risk...
US500 - 23h expiry - We look to Sell at 3710 (stop at 3780)
Buying pressure from 3580 resulted in prices rejecting the dip.
The trend of lower highs is located at 3721.
The bias is still for lower levels and we look for any gains to be limited.
This is negative for sentiment and the downtrend has potential to return.
We therefore, prefer to fade into the...
EURUSD - Intraday - We look to Sell at 0.9800 (stop at 0.9835)
Price action continues within the long-term bearish trend channel.
Signals are mixed but remain mildly bearish with an short-term timeframe highlighting an exhaustion count.
The weaker US dollar has boosted performance.
The move higher is mixed and volatile, common in corrective sequences....
USD/JPY continues to move edge higher and is up 1.6% this week. In the European session, USD/JPY is trading at 147.67, up 0.25%.
The Japanese yen is once again on a downswing, after hugging the key 145 line. The dramatic intervention by Japan's Ministry of Finance (MoF) in September stemmed the yen's bleeding, but this move by Tokyo appears to have had a very...
GBP/USD has reversed directions today and is in negative territory. In the North European session, GBP/USD is trading at 1.1274, down 0.34%.
The pound continues to show strong volatility and jumped 2% on Thursday. The sharp swings over the past few weeks were triggered by Chancellor Kwarteng's mini-budget in late September. Normally tame affairs, the mini-budget...
UK100 - Intraday 9pm UK time - We look to Buy at 6850 (stop at 6790)
Previous support located at 6900.
Previous resistance located at 6950.
Price action looks to be forming a bottom.
Risk/Reward would be poor to call a buy from current levels.
Bullish engulfing has been posted recently.
Our profit targets will be 7000 and 7050
Resistance: 6950 / 7000 /...
EURUSD - Intraday 9pm uk expiry - We look to Buy a break of 0.9813 (stop at 0.9730)
Price action has broken from the previous formation.
This is positive for sentiment and the uptrend has potential to return.
The weaker US dollar has boosted performance.
We look for gains to be extended today.
A break of bespoke resistance at 0.9800, and the move higher is...
GBPNZD - 21h expiry - We look to Buy at 2.0000 (stop at 1.9840)
Previous support located at 2.0100.
Previous resistance located at 2.0250.
Further upside is expected although we prefer to set longs at our bespoke support levels at 2.0000, resulting in improved risk/reward.
A move through 2.0250 will confirm the bullish momentum.
Our profit targets will be...
USDCHF - Intraday - We look to Buy at 0.9922 (stop at 0.9897)
Our short term bias remains positive.
We look to buy dips.
The previous swing low is located at 0.9916.
We look to buy dips.
50 4hour EMA is at 0.9919.
Our profit targets will be 0.9982 and 0.9992
Resistance: 0.9990 / 1.0020 / 1.0050
Support: 0.9970 / 0.9950 / 0.9920
Risk Disclaimer
The...
GER40 - Intraday - We look to Sell a break of 12079 (stop at 12171)
Trades with a bearish descending triangle formation.
The bias is to break to the downside.
12096 has been pivotal.
A break of yesterdays low would confirm bearish momentum.
We look for losses to be extended today.
Our profit targets will be 11861 and 11811
Resistance: 12200 / 12300 /...
EURAUD - 24h expiry - We look to Buy at 1.5400 (stop at 1.5325)
Previous support located at 1.5450.
Previous resistance located at 1.5500.
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 1.5500 will confirm the bullish momentum.
Our profit targets will be...
just now
NZDJPY - Intraday - We look to Buy at 81.10 (stop at 80.45)
Previous support located at 82.00.
Previous resistance located at 82.25.
Indecisive price action has resulted in sideways congestion on the intraday chart.
Risk/Reward would be poor to call a buy from current levels.
Our profit targets will be 82.60 and 83.00
Resistance: 82.25 / 82.60 /...
EURNZD - Intraday - We look to Sell at 1.7449 (stop at 1.7491)
Rallies should be capped by yesterday's high.
We are trading at overbought extremes.
A higher correction is expected.
We look for a temporary move higher.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
Our profit targets will be 1.7332 and...
