EUR/USD has rebounded and is in positive territory. In the European session, the euro is trading at 0.9794, up 0.45%. The upswing has ended a 3-day slide, in which the euro fell as much as 270 points.
The manufacturing sector in the eurozone continues to struggle. German and eurozone manufacturing PMIs are mired in contraction territory and German Factory Orders...
GBPUSD - Intraday - We look to Sell at 1.1335 (stop at 1.1440)
Buying pressure from 1.1149 resulted in prices rejecting the dip.
We are trading at oversold extremes.
The current move higher is expected to continue.
Ichimoku cloud resistance comes in at 1.1353.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for...
USDCHF - Intraday - We look to Buy at 1.0051 (stop at 1.0024)
Previous resistance at 1.0050 now becomes support.
We look to buy dips.
50 4hour EMA is at 1.0051.
The primary trend remains bullish.
Our profit targets will be 1.0118 and 1.0128
Resistance: 1.0100 / 1.0130 / 1.0145
Support: 1.0083 / 1.0050 / 1.0020
Risk Disclaimer
The trade ideas beyond this...
US500 - 7h expiry - We look to Sell at 3807 (stop at 3847)
Trades at the lowest level in 8 days.
Broken out of the wedge to the downside.
The formation has a measured move target of 3629.
We are trading at oversold extremes.
Preferred trade is to sell into rallies.
3810 has been pivotal.
Yesterday's Marabuzo is located at 3807.
Our profit targets will be...
The British pound is sharply lower today. In the European session, GBP/USD is trading at 1.179, down 1.83%. It has been a dreadful week for the pound, which has declined by 3.7%.
The Bank of England delivered as advertised, raising rates by a super-size 75 basis points today in a 7-2 vote. This was the sharpest rate hike since 1989 and brings the cash rate to...
EURCHF - 11h expiry - We look to Sell at 0.9906 (stop at 0.9931)
Broken out of the triangle formation to the downside.
Trend line resistance is located at 0.9907.
We look for a temporary move higher.
Preferred trade is to sell into rallies.
Short term bias has turned negative.
Our profit targets will be 0.9848 and 0.9838
Resistance: 0.9880 / 0.9910 /...
GER40 - 11h expiry - We look to Sell a break of 13098 (stop at 13171)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
50 4hour EMA is at 13140.
A break of yesterdays low would confirm bearish momentum.
A close below the key support at 13100 is expected to lead to further selling pressure.
The bearish...
HS50 - 22h expiry - We look to Sell at 16140 (stop at 16680)
Previous resistance located at 15836.
We are trading at overbought extremes.
This is negative for sentiment and the downtrend has potential to return.
The hourly chart technicals suggests further upside before the downtrend returns.
We look to sell rallies.
Our profit targets will be 14600 and...
The Swiss franc is showing little movement for a second straight day. In the North American session, USD/CHF is trading at 0.9993, down 0.03%.
Consumer confidence fell in the October survey to -47, down from -42 in the previous quarter. This marked a record low, as Swiss consumers have become even more pessimistic about the economic outlook. The survey found that...
EURCHF - 14h expiry - We look to Sell at 0.9915 (stop at 0.9935)
Trades with a bearish descending triangle formation.
Trend line resistance is located at 0.9915.
Preferred trade is to sell into rallies.
Our profit targets will be 0.9865 and 0.9855
Resistance: 0.9880 / 0.9910 / 0.9925
Support: 0.9864 / 0.9851 / 0.9820
Risk Disclaimer
The trade ideas...
GER40 - 14h expiry - We look to Buy at 13303 (stop at 13219)
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 4 hour EMA is at 13300.
Our profit targets will be 13514 and 13554
Resistance: 13420 / 13450 /...
NZD/USD is showing some strength today. In the North American session, the New Zealand dollar is trading at 0.5838, up 0.41%. Earlier today, NZD/USD rose to 0.5902, its highest level since September 21st.
New Zealand releases its Q3 employment report on Wednesday. The data is expected to reaffirm that the labour market remains robust. Employment Change is...
US500 - 8h expiry - We look to Buy at 3851 (stop at 3825)
Trades at the highest level in 6 weeks.
An overnight positive theme in Equities has led to a higher open this morning. The previous swing high is located at 3912.
There is scope for mild selling at the open but losses should be limited.
Bespoke resistance is located at 4065.
We look to set longs in...
GER40 - Intraday - We look to Buy at 13231 (stop at 13149)
The bullish engulfing candle on the weekly chart the positive for sentiment.
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.
20 4hour EMA is at 13229.
Our profit targets will be 13439...
USDCHF - 11h expiry - We look to Buy at 0.9931 (stop at 0.9905)
Daily signals are mildly bullish.
We look to buy dips.
0.9919 has been pivotal.
Offers good risk reward to buy at market.
Our profit targets will be 0.9999 and 1.0009
Resistance: 0.9980 / 1.0000 / 1.0030
Support: 0.9950 / 0.9920 / 0.9900
Risk Disclaimer
The trade ideas beyond this page are...
NZDUSD - 22h expiry - We look to Buy at 0.5750 (stop at 0.5675)
Previous support located at 0.5750.
Previous resistance located at 0.5800.
A lower correction is expected.
Risk/Reward would be poor to call a buy from current levels.
A move through 0.5800 will confirm the bullish momentum.
Our profit targets will be 0.5900 and 0.5950
Resistance: 0.5800 /...
AUD/USD is down for a third straight day. The Australian dollar is trading at 0.6395, down 0.24%.
The RBA kicks off a busy week of central bank decisions when it meets on Tuesday. This will be followed by the Federal Reserve on Wednesday and the Bank of England on Thursday.
The RBA has delivered a steep rate-tightening cycle this year and the upcoming meeting...
EURNZD - 12h expiry - We look to Sell at 1.7188 (stop at 1.7235)
Short term bias has turned negative.
Rallies should be capped by yesterday's high.
Preferred trade is to sell into rallies.
Our profit targets will be 1.7062 and 1.7042
Resistance: 1.7130 / 1.7170 / 1.7200
Support: 1.7040 / 1.7000 / 1.6930
Risk Disclaimer
The trade ideas beyond this page...
