US100 - 24h expiry
Previous resistance level of 19262 broken.
Short term bias is mildly bullish.
A lower correction is expected.
We look to buy dips.
Further upside is expected although we prefer to buy into dips close to the 19200 level.
We look to Buy at 19200 (stop at 18990)
Our profit targets will be 19550 and 19650
Resistance: 19895 / 20790 /...
The Japanese yen continues to sparkle. USD/JPY is trading at 150.27 in the European session, down 1.62% on the day at the time of writing. Earlier, the yen strengthened to 150.04, its highest level against the dollar since March 19.
The Bank of Japan showed an aggressive side rarely seen at today’s meeting. The BoJ raised the benchmark rate to around 0.25%, up...
WTI - 24h expiry
Our short term bias remains negative.
Our bespoke support of 77.06 has been clearly broken.
Previous support at 77.50 now becomes resistance.
We look for a temporary move higher.
We look for losses to be extended today.
We look to Sell at 77.50 (stop at 78.30)
Our profit targets will be 75.50 and 75.15
Resistance: 77.13 / 77.50 /...
HS50 - 24h expiry
Price action has continued to trend strongly lower and has stalled at the previous support near 16917.
Price action looks to be forming a bottom.
A Doji style candle has been posted from the base.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
Although the...
NZDUSD - 24h expiry
There is no clear indication that the downward move is coming to an end.
Although we remain bearish overall, a correction is possible without impacting the trend lower.
Risk/Reward would be poor to call a sell from current levels.
A move through 0.5865 will confirm the bearish momentum.
The measured move target is 0.5835.
We look to Sell...
The Japanese yen continues to show volatility but has closed right where it started over the past few sessions. USD/JPY is trading at 153.65 in the European session, up 0.04% on the day. The yen is coming off an excellent week, surging 2.3% against the US dollar.
We’re unlikely to see much movement from the yen today, as there are no US releases on the calendar...
The Japanese yen has hit the brakes on this week’s impressive rally. USD/JPY is trading at 154.34 in the European session, up 0.30% on the day. On Thursday, the yen climbed as much as 1.3% but gave up all of those gains after the strong US GDP report. Still, the yen is up 1.9% this week.
Tokyo Core CPI rose to 2.2% y/y in July, a notch higher than the 2.1% gain...
The Canadian dollar is almost unchanged on Wednesday, after the Bank of Canada cut rates at today’s meeting. In the North American session, USD/CAD is trading at 1.3778, up 0.05% on the day at the time of writing.
The Bank of Canada lowered rates by 25 basis points, bringing the key interest rate to 4.50%. The markets had priced in a rate cut at close to 90%, so...
GER40 - 24h expiry
A Morning Doji Star formation has been posted at the low.
A Doji style candle has been posted from the base.
The primary trend remains bullish.
Daily signals are bullish.
Yesterday's Marabuzo is located at 18415.
We look to buy dips.
We look to Buy at 18415 (stop at 18315)
Our profit targets will be 18665 and 18725
Resistance: 18509 /...
Gold - 24h expiry
Posted a Double Top formation.
Short term bias has turned negative.
5 negative daily performances in succession.
20 4hour EMA is at 2411.5.
We look for a temporary move higher.
We look to Sell at 2411.5 (stop at 2427.5)
Our profit targets will be 2371.5 and 2361.5
Resistance: 2404.0 / 2412.2 / 2420.0
Support: 2383.9 / 2370.0 /...
NZDUSD - 24h expiry
There is no indication that the selloff is coming to an end.
Although we remain bearish overall, a correction is possible without impacting the trend lower.
Risk/Reward would be poor to call a sell from current levels.
A move through 0.5975 will confirm the bearish momentum.
The measured move target is 0.5950.
We look to Sell at 0.5990...
The British pound has slightly lower on Friday. GBP/USD is trading at 1.2922 in the North American session, down 0.17% on the day. The pound has sparkled in the month of July but has hit a snag, dropping 0.50% on Thursday and extending those losses today.
UK retail sales suffered a turnaround in June, falling 1.2% m/m after a strong gain of 2.9% in May and below...
AUDUSD - 24h expiry
The primary trend remains bullish.
A lower correction is expected.
The hourly chart technicals suggests further downside before the uptrend returns.
Preferred trade is to buy on dips.
Bespoke support is located at 0.6670.
We look to Buy at 0.6670 (stop at 0.6646)
Our profit targets will be 0.6730 and 0.6745
Resistance: 0.6710 / 0.6730...
The euro has edged lower on Thursday. Early in the North American session, EUR/USD is trading at 1.0919, down 0.18% on the day. The euro hasn’t posted a losing day since July 9, gaining 1% during that period.
The European Central Bank maintained its key lending rate at 3.75% at today’s meeting, after cutting rates by a quarter-point in June. The decision to hold...
GBPUSD - 24h expiry
The medium term bias remains bullish.
The sequence for trading is higher highs and lows.
A lower correction is expected.
Preferred trade is to buy on dips.
Bespoke support is located at 1.2950.
We look to Buy at 1.2950 (stop at 1.2910)
Our profit targets will be 1.3050 and 1.3070
Resistance: 1.3010 / 1.3040 / 1.3070
Support: 1.2950 /...
The British pound continues to roll and is up for a sixth straight day. GBP/USD is trading at 1.3038 in the European session, up 0.51% on the day. The pound has sparkled in July, climbing 3% and hitting its highest level since July 2023.
UK consumer inflation remained at 2% y/y in July, unchanged from June. This was higher than the market estimate of 1.9% but...
EURNZD - 24h expiry
Our short term bias remains positive.
Setbacks should be limited to yesterday's low.
We look to buy dips.
20 4hour EMA is at 1.7921.
There is no clear indication that the upward move is coming to an end.
We look to Buy at 1.7928 (stop at 1.7878)
Our profit targets will be 1.8048 and 1.8068
Resistance: 1.7978 / 1.8061 / 1.8100
Support:...
NZDUSD - 24h expiry
The trend of lower highs is located at 0.6150.
Further downside is expected.
Risk/Reward would be poor to call a sell from current levels.
A move through 0.6040 will confirm the bearish momentum.
The measured move target is 0.6025.
We look to Sell at 0.6060 (stop at 0.6080)
Our profit targets will be 0.6010 and 0.6000
Resistance:...
