The Canadian dollar usually is calm prior to the North American session, but USD/CAD has posted steady gains in the Asian and European sessions. USD/CAD is trading at 1.2993, down 0.73% on the day.
Canada releases the August employment report later today, with a market consensus of 15.0 thousand. The economy has shed jobs over the past two months, as the labour...
EURJPY - Intraday - We look to Buy at 142.35 (stop at 141.15)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. There is no sign that this bullish momentum is faltering but the pair has stalled close to a previous swing high of 144.28. We are trading at overbought extremes. A lower correction is expected. The...
EURUSD - Intraday - We look to Sell at 1.0131 (stop at 1.0207)
The primary trend remains bearish. We are assessed to be in a corrective mode higher. Bespoke resistance is located at 1.0150. Resistance could prove difficult to breakdown. We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Our profit targets will...
WTICOUS - Intraday - We look to Sell at 85.83 (stop at 88.00)
The medium term bias remains bearish. We are assessed to be in a corrective mode higher. Previous support at 86.00 now becomes resistance. Resistance could prove difficult to breakdown. We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Our profit...
The Australian dollar is in negative territory today. In the North American session, AUD/USD is trading at 0.6739. down 0.43%.
US unemployment claims fell to a 3-month low, another indication that the US job market remains robust. Initial unemployment claims fell to 222 thousand, down from 228 thousand and well below the estimate of 240 thousand. This is the...
NZDUSD - Intraday - We look to Sell at 0.6100 (stop at 0.6150)
Previous support located at 0.6000. Previous resistance located at 0.6050. There is no clear indication that the downward move is coming to an end. Further downside is expected. Risk/Reward would be poor to call a sell from current levels.
Our profit targets will be 0.5975 and 0.5950
...
AUDJPY - Intraday - We look to Buy at 96.25 (stop at 95.75)
Previous support located at 96.50. Previous resistance located at 97.00. Further upside is expected although we prefer to set longs at our bespoke support levels at 96.25, resulting in improved risk/reward. A move through 97.00 will confirm the bullish momentum.
Our profit targets will be 97.75 and...
GBPCHF - Intraday - We look to Sell at 1.1305 (stop at 1.1330)
Preferred trade is to sell into rallies. Previous resistance located at 1.1300. There is ample scope for a move lower from this important resistance. The bias is still for lower levels and we look for any gains to be limited.
Our profit targets will be 1.1203 and 1.1171
Resistance: 1.1300 /...
The Japanese yen is down sharply for a second straight day. USD/JPY is trading at 144.87 in the North American session, up 1.45% on the day. Later today, Japan releases Final GDP, which is expected to come in at 0.7%, up from the initial GDP estimate of 0.5%.
It's been a disastrous week so far for the yen, as USD/JPY has jumped 3.31% and is quickly closing in on...
NAS100USD - Intraday - We look to Sell at 12190 (stop at 12371)
The medium term bias remains bearish. A sequence of daily lower lows and highs has been posted. 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 12200 level.
Our profit targets will be 11760 and 11600
...
XAUUSD - Intraday - We look to Sell at 1707.29 (stop at 1720.89)
The primary trend remains bearish. A firmer opening is expected to challenge bearish resolve. Horizontal resistance is seen at 1708.00. Resistance could prove difficult to breakdown. Preferred trade is to sell into rallies.
Our profit targets will be 1678.18 and 1670.00
Resistance: 1708.00 /...
USDCAD - Intraday - We look to Buy at 1.3100 (stop at 1.3040)
Previous support located at 1.3150. Previous resistance located at 1.3200. A lower correction is expected. Risk/Reward would be poor to call a buy from current levels. A move through 1.3200 will confirm the bullish momentum.
Our profit targets will be 1.3220 and 1.3250
Resistance: 1.3200 /...
EUR/USD slipped to a new 20-year low earlier today, falling to 0.9864. Currently, the euro is trading at 0.9910, down 0.20%.
Eurozone government yields fell sharply today on reports that the ECB may decide to scale down an expected 75 basis point hike on Thursday. This has pushed the euro to a new 20-year low earlier today, as the currency remains under...
GBPAUD - Intraday - We look to Buy at 1.7000 (stop at 1.6930)
Previous support located at 1.7000. Previous resistance located at 1.7100. Further upside is expected although we prefer to set longs at our bespoke support levels at 1.7000, resulting in improved risk/reward. A move through 1.7100 will confirm the bullish momentum.
Our profit targets will be...
AUDUSD - Intraday - We look to Sell at 0.6880 (stop at 0.6925)
Buying pressure from 0.6772 resulted in prices rejecting the dip. The current move higher is expected to continue. The bias is still for lower levels and we look for any gains to be limited. Preferred trade is to sell into rallies.
Our profit targets will be 0.6755 and 0.6680
Resistance: ...
EURGBP - Intraday - We look to Buy at 0.8575 (stop at 0.8540)
We are trading at oversold extremes. This is positive for sentiment and the uptrend has potential to return. The hourly chart technicals suggests further downside before the uptrend returns. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
Our...
The Australian dollar has started the week with slight losses. In the North American session, AUD/USD is trading at 0.6798, down 0.19%.
The Reserve Bank of Australia meets on Tuesday, with investors unclear as to the size of the next rate move. The markets have priced in a 50 basis point move at 68%, with a modest 25 bp increase at 32%. This means that the RBA...
GBPNZD - Intraday - We look to Sell at 1.9000 (stop at 1.9100)
Previous support located at 1.8850. Previous resistance located at 1.8900. Trend line resistance is located at 1.9000. There is no clear indication that the downward move is coming to an end. Risk/Reward would be poor to call a sell from current levels.
Our profit targets will be 1.8750 and 1.8700...
