The British pound is showing strong volatility in the wake of Prime Minister's Truss resignation. Truss resigned on Thursday after just 44 days in office, and the pound jumped as much as 1% before paring most of the gains. The reality of the political maelstrom engulfing the UK has set in and GBP/USD has plunged 1.1% today. The currency has touched a low of...
EURUSD - 11h expiry - We look to Buy at 0.9754 (stop at 0.9708)
Daily signals are mildly bullish. We look for a temporary move lower.
Prices expected to stall near trend line support.
Dip buying offers good risk/reward.
Although the anticipated move higher is corrective, it does offer ample risk/reward today.
Our profit targets will be 0.9874 and 0.9925...
EURNZD - 11h expiry - We look to Sell at 1.7379 (stop at 1.7423)
Price action continued to range between key support & resistance (1.7270 - 1.7470) and we expect this to continue.
Preferred trade is to sell into rallies.
Short term bias has turned negative.
Bespoke resistance is located at 1.7400.
Early optimism is likely to lead to gains although extended...
GBPNZD - 22h expiry - We look to Buy at 1.9602 (stop at 1.9444)
Previous resistance located at 1.9700.
Previous resistance located at 1.9800.
A lower correction is expected.
Risk/Reward would be poor to call a buy from current levels.
We expect a reversal in this move.
Our profit targets will be 1.9970 and 2.0000
Resistance: 1.9800 / 1.9900 /...
USD/JPY is almost unchanged today but hit a milestone in the Asian session as it briefly darted above the 150 line, which has psychological significance. This marked the yen's lowest level since August 1990 as the currency continues to slide. The yen hasn't recorded a winning session since October 4th and has plunged about 600 points during this period. Later...
GER40 - 13h expiry - We look to Buy a break of 12816 (stop at 12739)
Short term bias has turned positive.
A break of bespoke resistance at 12800, and the move higher is already underway.
There is no clear indication that the upward move is coming to an end.
Our profit targets will be 12997 and 13047
Resistance: 12800 / 12900 / 13000
Support: 12700 / 12600...
USDCHF - Expires in 13h - We look to Sell at 1.0064 (stop at 1.0096)
We are trading at overbought extremes.
Posted a Treble Top formation.
Bearish divergence can be seen on the daily chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower.
Although the bulls...
NIK225 - 22h expiry - We look to Sell at 27390 (stop at 27610)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
We are trading at overbought extremes.
Previous resistance located at 27397.
A lower correction is expected.
The hourly chart technicals suggests further upside before the downtrend returns. We...
AUD/USD is considerably lower today, trading at 0.6273, down 0.57%.
Australia releases employment data on Thursday, with the markets expecting that the report will show that the labour market remains robust. The economy is forecast to have created 25,000 jobs in September, following the 35,000 gain in August. Unemployment is expected to remain at 3.5%. The strong...
US500 - 8 hours expiry - We look to Sell at 3803 (stop at 3867)
Prices have continued the bullish move higher and resulted in 2 consecutive positive days.
A move higher faces tough resistance and we remain cautious on upside potential.
Preferred trade is to sell into rallies.
The primary trend remains bearish.
Our profit targets will be 3703 and...
GER40 - Expires in 11 hours - We look to Buy at 12721 (stop at 12636)
Our short term bias remains positive. 12705 has been pivotal.
Bespoke support is located at 12700.
We look to buy dips.
Good risk reward to buy at market.
Our profit targets will be 12925 and 12985
Resistance: 12900 / 13000 / 13100
Support: 12800 / 12700 / 12600
Risk Disclaimer
The...
HS50 - 22h expiry - We look to Sell at 16695 (stop at 17020)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
A Doji style candle has been posted from the high.
This is negative for sentiment and the downtrend has potential to return.
Further downside is expected although we prefer to sell into rallies...
GBP/USD has edged lower today, after starting the week with sharp gains. In the North American session, GBP/USD is trading at 1.1334, down 0.18%.
The pound continues to show strong volatility as the political saga continues in the UK. Truss finally stopped blaming the markets and "global headwinds" for the decline of the British pound and UK gilts on Monday,...
USD/JPY has edged higher today and is currently trading at 149.17. The yen has fallen for eight straight sessions, losing 500 points in that time.
The yen continues to set new 24-year-old lows as the dollar/yen has pushed above the 149 line. This is a higher level than when the government intervened last month, which marked the first intervention since 1998....
USDCHF - Intraday 9pm uk expiry - We look to Sell a break of 0.9914 (stop at 0.9945)
The bearish engulfing candle on the daily chart is negative for sentiment.
A break of the recent low at 0.9915 should result in a further move lower.
We look for losses to be extended today.
Short term bias has turned negative.
Our profit targets will be 0.9842 and 0.9832...
GER40 - Intraday 9pm UK expiry - We look to Buy at 12534 (stop at 12444)
Short term bias has turned positive.
A lower correction is expected.
Bespoke support is located at 12500.
We look to buy dips.
Our profit targets will be 12744 and 12794
Resistance: 12900 / 13000 / 13100
Support: 12800 / 12700 / 12600
Risk Disclaimer
The trade ideas beyond this...
NZDJPY - 22h expiry - We look to Buy at 83.00 (stop at 82.35)
Previous support located at 83.50.
Previous resistance located at 84.00.
Price action looks to be forming a bottom.
A move through 84.00 will confirm the bullish momentum.
Our profit targets will be 84.50 and 85.00
Resistance: 84.00 / 84.50 / 85.00
Support: 83.50 / 83.00 / 82.50
Risk...
US500 - 23h expiry - We look to Sell at 3710 (stop at 3780)
Buying pressure from 3580 resulted in prices rejecting the dip.
The trend of lower highs is located at 3721.
The bias is still for lower levels and we look for any gains to be limited.
This is negative for sentiment and the downtrend has potential to return.
We therefore, prefer to fade into the...
