GBPAUD - 21h expiry - We look to Buy at 1.7875 (stop at 1.7805)
Previous support located at 1.7900.
Previous resistance located at 1.8000.
Indecisive price action has resulted in sideways congestion on the intraday chart.
Risk/Reward is good to call a buy from current levels.
A move through 1.8000 will confirm the bullish momentum.
Our profit targets will...
EUR/USD is in a holding pattern ahead of today's ECB rate meeting. In the European session, the euro is trading at 1.0068, down 0.16%.
The ECB holds its policy meeting later today, amidst difficult economic conditions in the eurozone. Inflation jumped to 9.9% in September, up sharply from 9.1%. The manufacturing and services sectors are in decline and confidence...
USDCHF - 14h expiry - We look to Sell at 0.9915 (stop at 0.9941)
Short term bias has turned negative.
Previous support at 0.9920 now becomes resistance.
We look for a temporary move higher.
Preferred trade is to sell into rallies.
Our profit targets will be 0.9852 and 0.9842
Resistance: 0.9870 / 0.9920 / 0.9950
Support: 0.9840 / 0.9820 / 0.9800
Risk...
EURCHF - 14h expiry - We look to Buy at 0.9902 (stop at 0.9879)
Daily signals are mildly bullish.
There is no clear indication that the upward move is coming to an end.
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 0.9901.
We look to buy dips.
Our profit...
GBPNZD - 22h expiry - We look to Buy at 1.9700 (stop at 1.9540)
Previous support located at 1.9800. Previous resistance located at 2.0000.
A lower correction is expected.
Risk/Reward would be poor to call a buy from current levels.
Our profit targets will be 2.0070 and 2.0100
Resistance: 2.0000 / 2.0070 / 2.0100
Support: 1.9800 / 1.9700 / 1.9600
Risk...
EUR/USD continues to power forward and has breached the parity line for the first time since September 20th. The euro is red hot, having gained 2.1% this week, as the US dollar has hit a bump in the road and is lower against all the major currencies. In the North American session, EUR/USD is trading at 1.0069, up 1.02%.
The German economy, the largest in the...
US500 - 7h expiry- We look to Sell a break of 3812 (stop at 3867)
Prices have continued the bullish move higher and resulted in 3 consecutive positive days.
A lower correction is expected.
Price action has formed an expanding wedge formation.
A break of 3813 is needed to confirm follow through negative momentum.
Further downside is expected.
Our profit...
UK100 - 10h expiry - We look to Buy at 6965 (stop at 6905)
Previous support located at 7000.
Previous resistance located at 7050.
Further upside is expected although we prefer to set longs at our bespoke support levels at 6965, resulting in improved risk/reward.
A move through 7050 will confirm the bullish momentum.
Our profit targets will be 7115 and 7125...
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...
