DOW30 - 24h expiry - We look to Sell at 29575 (stop at 29986)
The primary trend remains bearish.
We are assessed to be in a corrective mode higher.
Prices expected to stall near trend line resistance.
Preferred trade is to sell into rallies.
Our profit targets will be 28614 and 28400
Resistance: 29660 / 32700 / 36800
Support: 28600 / 26000 / 24000
Risk...
The euro is in negative territory today, after posting six straight days of losses. EUR/USD is trading at 0.9553 in Europe, down 0.41%.
September can't end fast enough for the euro, which has declined a massive 4.8% against the dollar. Earlier today, EUR/USD fell to 0.9536, its lowest level since June 2002. With the war in Ukraine escalating and Nord Stream...
GER40 - Intraday 9pm UK expiry - We look to Sell at 12185 (stop at 12256)
Daily signals are bearish.
Our bespoke support of 12200 has been clearly broken.
Previous support at 12200 now becomes resistance.
Preferred trade is to sell into rallies.
Our profit targets will be 12004 and 11964
Resistance: 12000 / 12100 / 12200
Support: 11900 / 11800 /...
GBPNZD - Intraday - We look to Sell at 1.9100 (stop at 1.9220)
Previous support located at 1.9000.
Previous resistance located at 1.9050.
We expect a reversal in this move.
Risk/Reward would be poor to call a sell from current levels.
A move through 1.9000 will confirm the bearish momentum.
Our profit targets will be 1.8850 and 1.8825
Resistance: 1.9050...
US500 - Intraday Expiry 9pm UK - We look to Sell at 3777 (stop at 3836)
Sentiment remains negative despite the pull-back higher in prices.
We are assessed to be in a corrective mode higher.
Horizontal resistance is seen at 3800.
Resistance could prove difficult to breakdown.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a...
USDCAD - Intraday - We look to Buy at 1.3620 (stop at 1.3560)
Previous support located at 1.3620.
Previous resistance located at 1.3700.
A lower correction is expected.
Risk/Reward would be poor to call a buy from current levels.
A move through 1.3700 will confirm the bullish momentum.
Our profit targets will be 1.3740 and 1.3750
Resistance: 1.3700 /...
EURNZD - Expiry 9PM UK time - We look to Buy at 1.6782 (stop at 1.6745)
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
50 4hour EMA is at 1.6767.
Our short term bias remains positive.
We look to buy dips.
Our profit targets will be 1.6873 and 1.6893
Resistance: 1.6870 / 1.6900...
GER40 - Intraday expiry 9PM UK - We look to Buy a break of 12353 (stop at 12269)
We are trading at oversold extremes.
A break of the recent high at 12350 should result in a further move higher.
A higher correction is expected.
Early pessimism is likely to lead to losses although extended attempts lower are expected to fail.
Our profit targets will be 12558...
US500 - Expiry in 24h - We look to Buy at 3676 (stop at 3602)
The medium term bias remains bearish.
The previous swing low is located at 3640.
Price action continues to gravitate towards crucial support levels with aggressive selling interest.
Support could prove difficult to breakdown.
We therefore, prefer to fade into the dip with a tight stop in...
GER40 - Intraday - We look to Buy at 12452 (stop at 12359)
With signals for sentiment at oversold extremes, the dip could not be extended.
Weekly pivot is at 12426.
Weekly pivot is at 12374.
Bullish divergence can be seen on the daily (the chart makes a lower low while the oscillator makes a higher low), often a signal of exhausted bearish momentum, or at...
GBP/USD is down sharply today and has fallen below the 1.11 level for the first time since 1985. In the European session, GBP/USD is trading at 1.1125, down 1.16%.
The British pound can't seem to find any love. GBP/USD is looking dreadful, down 2.1% this week and 3.8% in September. The currency hasn't sunk to such levels since 1985 and the strong US dollar could...
US500 - Intraday - We look to Sell at 3834 (stop at 3889)
The medium term bias remains bearish.
We can see no technical reason for a change of trend.
A firmer opening is expected to challenge bearish resolve. Resistance is located at 3840 and should cap gains to this area.
We look to sell rallies.
Our profit targets will be 3701 and 3680
Resistance: 3840...
As expected, the Bank of England hiked interest rates by 0.50%, bringing the cash rate to 2.25%. There was an outside chance that the BoE would press the rate pedal to the floor and deliver a 0.75% increase, but in the end, members decided unanimously on a less aggressive hike. The central bank is grappling with 9.9% inflation and a falling British pound, which...
Gold - Intraday, 9 pm UK time - We look to Sell a break of 1653.22 (stop at 1670.57)
The medium term bias remains bearish.
We can see no technical reason for a change of trend.
A break of yesterdays low would confirm bearish momentum.
The measured move target is 1610.00.
Our profit targets will be 1613.40 and 1600.00
Resistance: 1689.00 / 1736.00 /...
EURNZD - Intraday - We look to Buy at 1.6731 (stop at 1.6696)
Price action has posted a bearish Engulfing Candle and is negative for short-term sentiment.
A lower correction is expected.
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
We look to buy dips.
50 4hour EMA is at 1.6730....
USDCHF - Intraday - We look to Buy at 0.9623 (stop at 0.9599)
Short term oscillators have turned positive.
Short term bias is mildly bullish.
We look to buy dips.
We look for a temporary move lower.
Our profit targets will be 0.9679 and 0.9689
Resistance: 0.9660 / 0.9680 / 0.9700
Support: 0.9640 / 0.9620 / 0.9600
Risk Disclaimer
The trade ideas beyond...
EURAUD - Intraday - We look to Sell at 1.4925 (stop at 1.5000)
Previous support located at 1.4850.
Previous resistance located at 1.4900.
Prices expected to stall near trend line resistance.
Risk/Reward would be poor to call a sell from current levels.
A move through 1.4850 will confirm the bearish momentum.
Our profit targets will be 1.4775 and 1.4750...
USD/JPY continues to show limited movement this week. In the North American session, USD/JPY is trading at 144.10, up 0.27%.
The Japanese yen has depreciated by over 20% this year, and the yen's slide will be high on the agenda at the Bank of Japan's meeting on Thursday. We could see some strong rhetoric expressing deep concern about the yen, but the central bank...
