NAS100USD - Intraday - We look to Sell at 12694 (stop at 12973)
The medium term bias remains bearish. Trading within a Bearish Channel formation. We are assessed to be in a corrective mode higher. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 12800, resulting in improved risk/reward.
Our profit targets will...
XAUUSD - Intraday - We look to Sell at 1737.82 (stop at 1750.19)
The medium term bias remains bearish. A higher correction is expected. Resistance is located at 1740.00 and should cap gains to this area. Preferred trade is to sell into rallies.
Our profit targets will be 1710.37 and 1700.00
Resistance: 1740.00 / 1800.00 / 1880.00
Support: 1710.00 /...
USDJPY - Intraday - We look to Buy at 137.63 (stop at 136.77)
We are trading at overbought extremes. 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 137.50 and should stem dips to this area. Dip buying offers good risk/reward.
Our profit targets will be...
EURJPY - Intraday - We look to Buy at 137.80 (stop at 137.00)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. A lower correction is expected. The bias is still for higher levels and we look for any dips to be limited. We look to buy dips.
Our profit targets will be 140.00 and 141.70
Resistance: 141.70...
The Japanese yen is in positive territory today after starting the week with sharp losses. USD/JPY is trading at 138.22, down 0.34%.
Japan releases a host of events on Wednesday, including retail sales and consumer confidence. Retail sales for July is expected to come in at -0.5% MoM, following a 1.4% decline in June. Consumer confidence remains weak, with a July...
US30USD - Intraday - We look to Sell at 32761 (stop at 33164)
The medium term bias remains bearish. A Doji style candle has been posted from the base. We look for a temporary move higher. A Fibonacci confluence area is located at 32800. Preferred trade is to sell into rallies.
Our profit targets will be 31822 and 31600
Resistance: 32800 / 34300 / 36800
...
GBPCHF - Intraday - We look to Sell at 1.1371 (stop at 1.1406)
The medium term bias remains bearish. 50 4hour EMA is at 1.1373. Prices expected to stall near trend line resistance. Expect trading to remain mixed and volatile.
Our profit targets will be 1.1269 and 1.1210
Resistance: 1.1370 / 1.1427 / 1.1527
Support: 1.1358 / 1.1285 / 1.1200
Risk...
EUR/USD has edged higher today and is trading at the parity line. In the North American sesssion, EUR/USD is trading at 1.0019, up 0.57%.
The US dollar has posted sharp gains against the major currencies, as Fed Chair Powell's hawkish speech at Jackson Hole left no doubt that the Fed will continue to tighten rates in its titanic battle with surging inflation. The...
The Japanese yen is in negative territory today. USD/JPY is trading at 136.90 in the European session, up 0.34%.
It has been a relatively quiet week for the yen, which is trading exactly where it started the week, around the 137 line. The month of August has not been kind to the yen, with USD/JPY soaring 2.75%. The US dollar is again in favor as the markets have...
EURGBP - Intraday - We look to Buy at 0.8411 (stop at 0.8396)
Trading has been mixed and volatile. Short term bias is mildly bullish. We look to buy dips. 0.8410 has been pivotal. Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
Our profit targets will be 0.8448 and 0.8458
...
Silver - Intraday - We look to Sell at 19.5400 (stop at 19.7539)
The medium term bias remains bearish. We have a 38.2% Fibonacci pullback level of 19.5428 from 18.7205 to 20.8732. There is scope for mild buying at the open but gains should be limited. Preferred trade is to sell into rallies.
Our profit targets will be 18.7206 and 18.5000
Resistance: ...
EURUSD - Intraday - We look to Sell at 1.0043 (stop at 1.0106)
The medium term bias remains bearish. There is scope for mild buying at the open but gains should be limited. Trend line resistance is located at 1.0050. Resistance could prove difficult to breakdown. We look to sell rallies.
Our profit targets will be 0.9899 and 0.9850
Resistance: 1.0050 /...
The euro has posted gains today and briefly punched above the symbolic parity line. In the North American session, EUR/USD is trading at 0.9978, up 0.11%.
It seems that whatever angle you examine Germany's economy, things are not looking good. Services and manufacturing PMIs both remained in contraction territory (below 50.0) for a second straight month. The...
EURAUD - Intraday - We look to Sell at 1.4400 (stop at 1.4465)
Previous support located at 1.4300. Previous resistance located at 1.4350. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 1.4400, resulting in improved risk/reward. A move through 1.4300 will confirm the bearish momentum.
Our profit targets will...
SPX500USD - Intraday - We look to Sell at 4195 (stop at 4244)
Sentiment remains negative despite the pull-back higher in prices. A bearish Head and Shoulders is forming. Rallies continue to attract sellers. We can see no technical reason for a change of trend. Further downside is expected although we prefer to sell into rallies close to the 4200 level.
Our...
Gold - Intraday - We look to Sell at 1764.39 (stop at 1775.06)
The medium term bias remains bearish. We are assessed to be in a corrective mode higher. Horizontal resistance is seen at 1765.00. We look to sell rallies.
Our profit targets will be 1735.55 and 1730.00
Resistance: 1765.00 / 1820.00 / 1980.00
Support: 1735.00 / 1700.00 / 1600.00
Risk...
The New Zealand dollar continues to show volatility this week. In the North American session, NZD/USD is trading at 0.6182, down 0.48%, erasing all of Tuesday's gains.
Later today, New Zealand releases retail sales for the second quarter. The markets are expecting a strong rebound of 1.7%, after the Q1 reading of -0.5%. The release is expected to reflect pent-up...
NZDJPY - Intraday - We look to Sell at 84.91 (stop at 85.31)
Signals are mixed but remain mildly bearish with an short-term timeframe highlighting an exhaustion count. We look for a temporary move higher. Prices expected to stall near trend line resistance. Preferred trade is to sell into rallies. Further downside is expected.
Our profit targets will be 84.01...
