ASX200 - Intraday - We look to Buy at 6985 (stop at 6906)
6980 continues to hold back the bears. The lack of interest is a concern for bears. Preferred trade is to buy on dips. Further upside is expected.
Our profit targets will be 7157 and 7200
Resistance: 7160 / 7300 / 7630
Support: 6980 / 6800 / 6425
Risk Disclaimer
The trade ideas beyond this page are...
The British pound has surged in today's North American session. GBP/USD has jumped a massive 1.20% on the day and is trading at 1.2218.
The economic calendar is very light on both sides of the pond today, but that didn't matter as today's US inflation report has sent the US dollar on a nasty slide. The July data saw both the headline and core readings come in...
EURNZD - Intraday - We look to Sell at 1.6329 (stop at 1.6366)
Price action continued to range between key support & resistance (1.6130 - 1.6330) and we expect this to continue. Daily signals are bearish. Preferred trade is to sell into rallies. Expect trading to remain mixed and volatile.
Our profit targets will be 1.6232 and 1.6212
Resistance: 1.6270 /...
NASDAQ - Intraday - We look to Sell a break of 12932 (stop at 13135)
Our outlook is bearish. A sequence of intraday lower lows and highs has been posted. We can see no technical reason for a change of trend. We would prefer to see a break of initial support at 12950 before setting shorts. Further downside is expected.
Our profit targets will be 12408 and 12200...
NZDUSD - Intraday - We look to Buy at 0.6250 (stop at 0.6200)
Previous support located at 0.6250. Previous resistance located at 0.6300. 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 0.6300 will confirm the bullish momentum.
Our profit targets will be...
US30USD - Intraday - We look to Buy at 32499 (stop at 32188)
Afternoon gains were sold into and follow-through bearish momentum resulted in the market moving lower. Although we remain bullish overall, a correction is possible with plenty of room to move lower without impacting the trend higher. Support is located at 32490 and should stem dips to this area....
USDJPY - Intraday - We look to Buy at 134.27 (stop at 133.44)
Our outlook is bullish. The trend of higher lows is located at 132.50. There is scope for mild selling at the open but losses should be limited. Support is located at 134.20 and should stem dips to this area. We look to buy dips.
Our profit targets will be 136.49 and 138.00
Resistance: 136.50 /...
The British pound has posted slight gains today. GBP/USD is trading in the European session at 1.2106, up 0.21% on the day.
The economic calendar has been light so far this week. On Capitol Hill, the Biden Administration racked up a badly-needed victory ahead of the mid-terms, passing a domestic spending bill which covers climate change, health costs, and...
The euro has started the week in positive territory. In the North American session, EUR/USD is trading at 1.0217, up 0.36% on the day.
The week wrapped up with a superb nonfarm payroll report, which sent the US dollar broadly higher. However, the gains proved to be short-lived, as the euro has recovered most of Friday's losses. The July nonfarm payroll report...
NZDUSD - Intraday - We look to Buy at 0.6250 (stop at 0.6190)
Previous support located at 0.6250. Previous resistance located at 0.6300. Indecisive price action has resulted in sideways congestion on the intraday chart. Risk/Reward would be poor to call a buy from current levels.
Our profit targets will be 0.6375 and 0.6400
Resistance: 0.6300 / 0.6350 /...
WTI - Intraday - We look to Sell at 91.78 (stop at 95.24)
The medium term bias remains bearish. A firmer opening is expected to challenge bearish resolve. Resistance is located at 92.00 and should cap gains to this area. We look to sell rallies.
Our profit targets will be 84.10 and 82.00
Resistance: 92.00 / 100.00 / 112.00
Support: 84.00 / 68.00 /...
USDCAD - Intraday - We look to Buy at 1.2875 (stop at 1.2815)
Previous support located at 1.2875. Previous resistance located at 1.2950. A lower correction is expected. A move through 1.2950 will confirm the bullish momentum.
Our profit targets will be 1.3025 and 1.3050
Resistance: 1.2950 / 1.3000 / 1.3050
Support: 1.2900 / 1.2875 / 1.2825
Risk...
SPX500USD - Intraday - We look to Buy at 4086 (stop at 4060)
Preferred trade is to buy on dips. There is scope for mild selling at the open but losses should be limited. Bespoke support is located at 4090. Support could prove difficult to breakdown. Further upside is expected although we prefer to set longs at our bespoke support levels at 4090, resulting in...
The British pound is falling sharply in the North American session, after a massively strong US nonfarm payment release. GBP/USD is trading at 1.2040, down 0.98% on the day.
It wasn't so long ago that US nonfarm payrolls was one of the most anticipated events on the economic calendar and often had a significant impact on the movement of the US dollar. That has...
It's a busy day in both Canada and the US, with both countries releasing July employment reports. It wasn't so long ago that US nonfarm payrolls was eagerly anticipated and was the most important event of the week. The NFP often had a significant impact on the movement of the US dollar. That has changed in the new economic landscape of red-hot inflation and...
EURJPY - Intraday - We look to Sell at 137.30 (stop at 138.25)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. This is negative for sentiment and the downtrend has potential to return. The hourly chart technicals suggests further upside before the downtrend returns. We therefore, prefer to fade into the...
USD/JPY continues to gain ground and has pushed across the 134 line. In the European session, the pair is trading at 134.12, up 0.20%.
The week started off nicely for the Japanese yen, which took advantage of broad weakness in the US dollar. USD/JPY fell 1.22% on Monday and touched a low of 131.60, its lowest level since mid-June. However, the dollar has since...
EURAUD - Intraday - We look to Buy at 1.4575 (stop at 1.4475)
Previous support located at 1.4600. Previous resistance located at 1.4700. Price action looks to be forming a bottom. Risk/Reward would be poor to call a buy from current levels. A move through 1.4700 will confirm the bullish momentum.
Our profit targets will be 1.4775 and 1.4800
Resistance: ...
