The Australian dollar has edged lower today. Earlier, AUD/USD dropped to 0.6654, its lowest level since May 2020.
Risk sentiment has soured after Russia announced that it is moving quickly to annex territories that it has captured in Ukraine. European leaders quickly denounced the move as a "sham". An annexation would seriously escalate the conflict in Ukraine,...
GER40 - Intraday - We look to Sell at 12866 (stop at 12941)
Our short term bias remains negative.
Preferred trade is to sell into rallies.
50 4hour EMA is at 12871.
Risk/Reward would be poor to call a sell from current levels.
Our profit targets will be 12688 and 12648
Resistance: 12700 / 12800 / 12900
Support: 12600 / 12500 / 12400
Risk Disclaimer
The...
Silver - Intraday - We look to Buy a break of 19.67 (stop at 19.57)
A bullish reverse Head and Shoulders is forming.
Previous resistance located at 19.65. A break of bespoke resistance at 19.50, and the move higher is already underway.
There is scope for mild selling at the open but losses should be limited.
Our profit targets will be 19.94 and 20.20...
The Australian dollar is in negative territory today. AUD/USD is trading at 0.6706, down 0.30% on the day.
The RBA minutes of the September 6th meeting didn't shed any new light on the central bank's rate policy, and the Australian dollar's response has been muted. The minutes reiterated the message that the markets have already heard from Governor Lowe -...
EURNZD - Intraday - We look to Buy at 1.6771 (stop at 1.6735)
Price action has broken from the previous formation.
We are trading at overbought extremes.
A lower correction is expected.
Previous resistance at 1.6770 now becomes support. There is no clear indication that the upward move is coming to an end.
20 4hour EMA is at 1.6760.
Our profit targets...
HS50 - Intraday - We look to Sell at 18890 (stop at 19100)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
A higher correction is expected.
With the Ichimoku cloud resistance above we expect gains to be limited.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back...
EURCHF - Intraday - We look to Sell a break of 0.9629 (stop at 0.9651)
The primary trend remains bearish.
A break of yesterdays low would confirm bearish momentum.
Our short term bias remains negative.
There is no clear indication that the downward move is coming to an end.
Our profit targets will be 0.9575 and 0.9565
Resistance: 0.9660 / 0.9680 /...
Gold - Intraday - We look to Sell at 1698.1 (stop at 1710.2)
Our bespoke support of 1700.0 has been clearly broken.
Previous support at 1700.0 now becomes resistance.
50 4hour EMA is at 1696.0.
We look for a temporary move higher.
Preferred trade is to sell into rallies.
Daily signals are bearish.
Our profit targets will be 1671.1 and 1665.1
Resistance:...
GER40 - Intraday - We look to Sell at 13014 (stop at 13081)
Short term bias has turned negative.
50 4hour EMA is at 13034.
20 4hour EMA is at 13029.
We look for a temporary move higher.
Preferred trade is to sell into rallies.
Our profit targets will be 12851 and 12811
Resistance: 12900 / 13000 / 13100
Support: 12800 / 12700 / 12600
Risk Disclaimer
The...
ASX200 - Intraday - We look to Buy at 6785 (stop at 6715)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
We are trading at oversold extremes.
Buying at market offers good risk to reward ratio.
Preferred trade is to buy on dips.
Our profit targets will be 6980 and 7020
Resistance: 7020 / 7160 /...
EURNZD - Intraday - We look to Buy at 1.6649 (stop at 1.6614)
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 1.6648.
There is no clear indication that the upward move is coming to an end.
A lower correction is expected.
Our profit targets will be 1.6739 and...
After some mid-week volatility, USD/JPY has settled down. In the European session, the yen is trading quietly at 143.59.
For anyone following the Japanese yen, next week promises to be interesting, at the very least. The Federal Reserve will hold its policy meeting on September 21st, with the Bank of Japan officials meeting the next day. The Japanese yen...
The British pound is in negative territory today and has fallen below the 1.15 line. In the North American session, GBP/USD is trading at 1.1497, down 0.38%.
US retail sales rose 0.3% MoM in August, rebounding from -0.4% in July. Excluding gasoline, retail sales were up 0.8%, as consumers responded to lower gas prices by increasing spending on other items. The...
EURNZD - Intraday - We look to Buy at 1.6502 (stop at 1.6467)
Our short term bias remains positive.
Short term MACD has turned negative.
A lower correction is expected.
50 4hour EMA is at 1.6500.
Bespoke support is located at 1.6500.
Our profit targets will be 1.6589 and 1.6609
Resistance: 1.6600 / 1.6630 / 1.6680
Support: 1.6570 / 1.6530 / 1.6500
Risk...
GER40 - Intraday - We look to Buy at 12901 (stop at 12829)
We look to buy dips.
We look for a temporary move lower.
We are trading at oversold extremes.
Bespoke support is located at 12900.
Our profit targets will be 13078 and 13118
Resistance: 13100 / 13200 / 13300
Support: 13000 / 12900 / 12800
Risk Disclaimer
The trade ideas beyond this page are for...
NZDJPY - Intraday - We look to Sell at 86.40 (stop at 87.00)
Previous support located at 85.50.
Previous resistance located at 86.00.
Posted a Double Top formation.
Further downside is expected. Risk/Reward would be poor to call a sell from current levels.
Our profit targets will be 84.90 and 84.80
Resistance: 86.00 / 86.40 / 87.00
Support: 85.50 / 85.00...
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 /...
