GER40 - Intraday - We look to Sell a break of 12389 (stop at 12471)
Daily signals are bearish. Short term momentum is bearish.
Short term MACD has turned negative.
50 4hour EMA is at 12406.
A break of yesterdays low would confirm bearish momentum.
Our profit targets will be 12191 and 12131
Resistance: 12500 / 12600 / 12700
Support: 12400 / 12300 /...
USD/JPY has been hovering close to the 145 line most of the week, and the trend has continued today. In the European session, USD/JPY is trading at 144.81, down 0.21%.
The US releases nonfarm payrolls later today. The release once received massive coverage and was usually a market-move, but the new era of high inflation and global tightening has stolen much of...
NZD/USD started the day with gains but has reversed directions and is sharply lower in the North American session. The New Zealand dollar is trading at 0.5657, down 1.38%.
As expected, the Reserve Bank of New Zealand delivered a 0.50% hike, bringing the benchmark to 3.50%, its highest level since 2015. The RBNZ has now hiked rates at eight consecutive meetings...
GBP/USD is down sharply today. In the North American session, GBP/USD is trading at 1.1150 down a massive 1.58%. The pound continues to exhibit sharp volatility, with swings of over 1% every day this week.
The fallout surrounding Chancellor Kwarteng's ill-fated mini-budget just won't go away. After immense pressure, Kwarteng abolished the tax breaks for the top...
NZDJPY - 24h expiry - We look to Buy at 81.80 (stop at 81.15)
Previous support located at 82.00.
Previous resistance located at 82.50.
Indecisive price action has resulted in sideways congestion on the intraday chart.
Risk/Reward would be poor to call a buy from current levels.
A move through 82.50 will confirm the bullish momentum.
Our profit targets will...
UK100 - Intraday - We look to Buy at 7000 (stop at 6940)
Previous support located at 7050.
Previous resistance located at 7100.
Price action looks to be forming a bottom.
Risk/Reward would be poor to call a buy from current levels.
Our profit targets will be 7150 and 7170
Resistance: 7100 / 7150 / 7170
Support: 7050 / 7000 / 6950
Risk Disclaimer
The...
EURCHF - Intraday - We look to Sell at 0.9791 (stop at 0.9816)
The primary trend remains bearish.
Rallies should be capped by yesterday's high.
We look for a temporary move higher.
Our profit targets will be 0.9726 and 0.9716
Resistance: 0.9730 / 0.9760 / 0.9790
Support: 0.9700 / 0.9660 / 0.9630
Risk Disclaimer
The trade ideas beyond this page are for...
GBPAUD - Intraday - We look to Buy at 1.7400 (stop at 1.7330)
Previous support located at 1.7500.
Previous resistance located at 1.7550.
Further upside is expected.
Risk/Reward would be poor to call a buy from current levels.
A move through 1.7550 will confirm the bullish momentum.
Our profit targets will be 1.7600 and 1.7650
Resistance: 1.7600 / 1.7650 /...
NASDAQ - 21h expiry - We look to Buy at 11300 (stop at 11052)
Buying pressure from 10840 resulted in prices rejecting the dip.
The reaction higher is positive and highlights a clear reversal.
We look for gains to be extended today.
Further upside is expected although we prefer to buy into dips close to the 11300 level.
Our profit targets will be 11872 and...
USDCHF - Intraday - We look to Sell a break of 0.9784 (stop at 0.9811)
Short term momentum is bearish.
The bearish engulfing candle on the daily chart is negative for sentiment.
A break of the recent low at 0.9785 should result in a further move lower.
Posted a Double Top formation.
There is no indication that the selloff is coming to an end.
Our profit...
ASX200 - 22h expiry - We look to Sell at 6860 (stop at 6950)
Posted a Double Bottom formation.
The 1 day moving average should provide resistance at 6790.
We have a 61.8% Fibonacci pullback level of 6857 from 7138 to 6410.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower.
Preferred...
US500 - Intraday - We look to Buy at 3674 (stop at 3598)
Following yesterday's bullish candle, the overall trend higher looks set to continue today.
A weaker opening is expected to challenge bullish resolve.
Support is located at 3670 and should stem dips to this area.
Preferred trade is to buy on dips.
Our profit targets will be 3850 and 3900
Resistance:...
The New Zealand dollar continues to rally. In the European session, NZD/USD is trading at 0.5746, up 0.43%.
The Reserve Bank of New Zealand holds a meeting on Wednesday. The RBNZ has been aggressive with its rate tightening and is expected to raise rates by 0.50%, which would bring the cash rate to 3.50%, the highest since 2015. Governor Orr has hinted that the...
USDCHF - 9pm UK expiry - We look to Sell at 0.9959 (stop at 0.9981)
Although the bulls are in control, the stalling positive momentum indicates a possible turnaround.
Posted a Double Top formation.
0.9966 has been pivotal.
We look for a temporary move higher.
Our profit targets will be 0.9896 and 0.9886
Resistance: 0.9930 / 0.9950 / 0.9966
Support: 0.9900...
EURAUD - Intraday - We look to Buy at 1.5000 (stop at 1.4925)
Previous support located at 1.5050.
Previous resistance located at 1.5100.
A lower correction is expected.
Risk/Reward would be poor to call a buy from current levels.
A move through 1.5100 will confirm the bullish momentum.
Our profit targets will be 1.5150 and 1.5200
Resistance: 1.5100 /...
AUDJPY - Intraday - We look to Sell at 94.00 (stop at 94.70)
Previous support located at 93.00.
Previous resistance located at 93.50.
Indecisive price action has resulted in sideways congestion on the intraday chart.
A move through 93.00 will confirm the bearish momentum.
Our profit targets will be 92.50 and 92.00
Resistance: 93.50 / 94.00 /...
AUD/USD has started the trading week with strong gains. The Aussie is trading at 0.6447, up 0.67%.
Is the nasty slide over? The Australian dollar is coming off a third straight losing week. September was a disaster, as AUD/USD plummeted 6.4%. The escalation in the war in Ukraine, which has sapped risk sentiment, and the aggressive Federal Reserve have dampened...
USDCHF - Intraday 9pm uk - We look to Sell at 0.9953 (stop at 0.9977)
A break of bespoke resistance at 0.9880, and the move higher is already underway.
Posted a Double Top formation.
0.9966 has been pivotal.
We look for a temporary move higher.
Our profit targets will be 0.9891 and 0.9881
Resistance: 0.9870 / 0.9900 / 0.9950
Support: 0.9840 / 0.9800 /...
