The Japanese yen has posted sharp gains today. USD/JPY is trading at 143.09, down 1.00% on the day.
The yen has taken investors on a roller-coaster ride this week. On Tuesday, the dollar shined, posting broad gains against the majors and climbing 1.19% against the yen. The catalyst for the upswing was the US inflation report, which was higher than expected. The...
USDCHF - Intraday - We look to Buy a break of 0.9635 (stop at 0.9609)
Price action is forming a bullish flag which has a bias to break to the upside.
Short term momentum is bullish.
The bias is to break to the upside.
A break of yesterdays high would confirm bullish momentum.
Our profit targets will be 0.9696 and 0.9706
Resistance: 0.9630 / 0.9650 /...
Gold - Intraday - We look to Sell at 1713.15 (stop at 1726.30)
Following yesterday's bearish candle, the overall trend lower looks set to continue today.
The overnight rally has been sold into and there is scope for further bearish pressure going into this morning.
Resistance is located at 1713.50 and should cap gains to this area.
Resistance could prove...
EURJPY - Intraday - We look to Buy at 142.80 (stop at 141.80)
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.
We therefore, prefer to fade into the dip with a tight stop in anticipation of a move...
GBP/USD is in positive territory today. In the European session, the pound is trading at 1.1731, up 0.42%. GBP/USD continues to take advantage of US dollar weakness and has gained 240 points since Thursday.
Inflation has hit a staggering 10.1% and the Bank of England is projecting that inflation may not peak until 13%, with some analysts predicting an even higher...
GER40 - Intraday - We look to Buy at 13185 (stop at 13109)
Short term bias has turned positive.
We look to buy dips.
20 4hour EMA is at 13185.
A lower correction is expected.
Our profit targets will be 13368 and 13408
Resistance: 13400 / 13450 / 13500
Support: 13300 / 13200 / 13100
Risk Disclaimer
The trade ideas beyond this page are for informational...
USDCHF - Intraday - We look to Sell at 0.9609 (stop at 0.9632)
There is no clear indication that the downward move is coming to an end.
We look for a temporary move higher.
Preferred trade is to sell into rallies.
20 4hour EMA is at 0.9604.
Bespoke resistance is located at 0.9600.
Our profit targets will be 0.9551 and 0.9541
Resistance: 0.9550 / 0.9570 /...
The euro is red hot, having gained close to 2% in just two days. EUR/USD is trading at 1.0144, up 0.97% on the day.
The ECB showed last week that its hawkishness was not limited to words, as the central bank delivered a massive 0.75% rate hike, for only the second time in its history. The markets are paying attention, and the move has triggered an impressive...
NASDAQ - Intraday - We look to Sell at 12837 (stop at 13028)
Daily signals for sentiment are at overbought extremes.
A lower correction is expected.
A move higher faces tough resistance and we remain cautious on upside potential.
Preferred trade is to sell into rallies.
Our profit targets will be 12406 and 12300
Resistance: 12840 / 13600 / 16500
Support:...
EURNZD - Intraday - We look to Buy at 1.6403 (stop at 1.6368)
Our short term bias remains positive.
We look to buy dips.
50 4hour EMA is at 1.6400.
Our profit targets will be 1.6497 and 1.6517
Resistance: 1.6540 / 1.6570 / 1.6600
Support: 1.6500 / 1.6470 / 1.6430
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do...
The Canadian dollar usually is calm prior to the North American session, but USD/CAD has posted steady gains in the Asian and European sessions. USD/CAD is trading at 1.2993, down 0.73% on the day.
Canada releases the August employment report later today, with a market consensus of 15.0 thousand. The economy has shed jobs over the past two months, as the labour...
EURJPY - Intraday - We look to Buy at 142.35 (stop at 141.15)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. There is no sign that this bullish momentum is faltering but the pair has stalled close to a previous swing high of 144.28. We are trading at overbought extremes. A lower correction is expected. The...
EURUSD - Intraday - We look to Sell at 1.0131 (stop at 1.0207)
The primary trend remains bearish. We are assessed to be in a corrective mode higher. Bespoke resistance is located at 1.0150. Resistance could prove difficult to breakdown. We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Our profit targets will...
WTICOUS - Intraday - We look to Sell at 85.83 (stop at 88.00)
The medium term bias remains bearish. We are assessed to be in a corrective mode higher. Previous support at 86.00 now becomes resistance. Resistance could prove difficult to breakdown. We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Our profit...
The Australian dollar is in negative territory today. In the North American session, AUD/USD is trading at 0.6739. down 0.43%.
US unemployment claims fell to a 3-month low, another indication that the US job market remains robust. Initial unemployment claims fell to 222 thousand, down from 228 thousand and well below the estimate of 240 thousand. This is the...
NZDUSD - Intraday - We look to Sell at 0.6100 (stop at 0.6150)
Previous support located at 0.6000. Previous resistance located at 0.6050. There is no clear indication that the downward move is coming to an end. Further downside is expected. Risk/Reward would be poor to call a sell from current levels.
Our profit targets will be 0.5975 and 0.5950
...
AUDJPY - Intraday - We look to Buy at 96.25 (stop at 95.75)
Previous support located at 96.50. Previous resistance located at 97.00. Further upside is expected although we prefer to set longs at our bespoke support levels at 96.25, resulting in improved risk/reward. A move through 97.00 will confirm the bullish momentum.
Our profit targets will be 97.75 and...
GBPCHF - Intraday - We look to Sell at 1.1305 (stop at 1.1330)
Preferred trade is to sell into rallies. Previous resistance located at 1.1300. There is ample scope for a move lower from this important resistance. The bias is still for lower levels and we look for any gains to be limited.
Our profit targets will be 1.1203 and 1.1171
Resistance: 1.1300 /...
