Market analysis from Saxo

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Airbus - Intraday - We look to Buy at 91.05 (stop at 87.57) 89.00 has been pivotal. Bespoke support is located at 91.00. A bullish reverse Head and Shoulders is forming. We look to buy dips. Prices have reacted from 87.00. Our profit targets will be 99.77 and 103.77 Resistance: 95.00 / 98.00 / 100.00 Support: 91.00 / 89.00 / 86.50 Disclaimer – Saxo Bank...

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Sanofi - Intraday - We look to Buy a break of 83.71 (stop at 79.98) We are trading at oversold extremes. Bullish divergence can be seen on the daily (the chart makes a lower low while the oscillator makes a higher low), often a signal of exhausted bearish momentum, or at least a correction higher. 83.58 has been pivotal. A break of 83.60 is needed to confirm...

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ST Micro Electrics - 30d expiry - We look to Sell at 38.14 (stop at 39.33) Resistance could prove difficult to breakdown. Bespoke resistance is located at 38.00. 38.44 has been pivotal. 39.21 has been pivotal. Levels close to the 61.8% pullback level of 38.91 found sellers. Our profit targets will be 35.14 and 34.14 Resistance: 35.00 / 36.00 /...

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US500 - 9h expiry - We look to Buy at 3725 (stop at 3678) An overnight positive theme in Equities has led to a higher open this morning. There is no sign that this bullish momentum is faltering but the pair has stalled close to a previous swing high of 3798. However, with the intraday chart now highlighting higher lows we are possibly forming an ascending...

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Alstom - 30d expiry - We look to Buy a break of 22.51 (stop at 21.29) There is no clear indication that the upward move is coming to an end. 22.42 has been pivotal. The previous swing high is located at 22.37. A break of resistance at 22.40 should lead to a more aggressive move higher towards 24.80. Our outlook is bullish. Prices have reacted from 16.04....

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Tesla - 30d expiry - We look to Buy a break of 238.11 (stop at 221.98) Weekly bullish divergence is expected to support prices. A break of the recent high at 237.40 should result in a further move higher. Trading has been mixed and volatile. The primary trend remains bullish. Our profit targets will be 279.29 and 289.29 Resistance: 238 / 255 /...

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BNP Paribas - 30d expiry - We look to Sell at 50.58 (stop at 52.36) The previous swing high is located at 51.04. 50.76 has been pivotal. The medium term bias is neutral. Bearish divergence is expected to cap gains. Offers ample risk/reward to sell at the market. Our profit targets will be 45.85 and 44.85 Resistance: 51.04 / 52.00 / 54.75 Support: 49.00 /...

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GBPNZD - 22h expiry - We look to Buy at 1.9230 (stop at 1.9070) Previous support located at 1.9300. Previous resistance located at 1.9400. We expect a reversal in this move. Risk/Reward would be poor to call a buy from current levels. A move through 1.9400 will confirm the bullish momentum. Our profit targets will be 1.9600 and 1.9700 Resistance: 1.9400...

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Alfen - 30d expiry - We look to Buy at 93.45 (stop at 89.25) The primary trend remains bullish. The trend of higher lows is located at 93.00. We look for a temporary move lower. We look to buy dips. A break of 100 is needed to confirm follow through negative momentum. Prices expected to stall near trend line support. Our profit targets will be 103.35 and...

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AUDUSD - 13h expiry - We look to Buy at 0.6400 (stop at 0.6355) Previous support located at 0.6368. Buying pressure from 0.6377 resulted in prices rejecting the dip. Further upside is expected although we prefer to buy into dips close to the 0.6400 level. Although the anticipated move higher is corrective, it does offer ample risk/reward today. Our profit...

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BE SEMICONDUCTOR INDUSTRIES - 30d expiry - We look to Buy a break of 53.22 (stop at 49.98) Prices have reacted from 38.46. Short term bias has turned positive. Short term momentum is bullish. 53.02 has been pivotal. A break of bespoke resistance at 53.00, and the move higher is already underway. Our outlook is bullish. Our profit targets will be 60.84 and...

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NZDJPY - 22h expiry - We look to Buy at 84.60 (stop at 83.95) Previous support located at 85.00. Previous resistance located at 85.50. Further upside is expected although we prefer to set longs at our bespoke support levels at 84.60, resulting in improved risk/reward. A move through 85.50 will confirm the bullish momentum. Our profit targets will be 86.10...

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GBPNZD - 21h expiry - We look to Buy at 1.9700 (stop at 1.9540) Previous support located at 1.9800. Previous resistance located at 2.0000. Risk/Reward would be poor to call a buy from current levels. A move through 2.0000 will confirm the bullish momentum. Our profit targets will be 2.0070 and 2.0100 Resistance: 2.0000 / 2.0070 / 2.0100 Support: 1.9800 /...

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NZDUSD - 21h expiry - We look to Buy at 0.5625 (stop at 0.5550) Previous support located at 0.5625. Previous resistance located at 0.5700. Indecisive price action has resulted in sideways congestion on the daily chart. Risk/Reward would be poor to call a buy from current levels. A move through 0.5700 will confirm the bullish momentum. Our profit targets...

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MCPHY Energy - 30d expiry - We look to Sell a break of 12.45 (stop at 13.14) Daily signals are bearish. We are trading at overbought extremes. The bearish engulfing candle on the 4 hour chart is negative for sentiment. 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...

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NZDJPY - 22h expiry - We look to Buy at 85.00 (stop at 84.35) Previous support located at 85.00. Previous resistance located at 86.00. There is no clear indication that the upward move is coming to an end. Risk/Reward would be poor to call a buy from current levels. Our profit targets will be 86.50 and 87.00 Resistance: 86.00 / 86.50 / 87.00 Support:...

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Intel Corporation - 30d expiry - We look to Buy a break of 28.02 (stop at 25.88) We are trading at oversold extremes. In our opinion this stock is undervalued. Price action has posted a Doji candle and signals a possible reversal of the recent trend. The RSI is trending higher. Bullish divergence is expected to support prices. We need to see a break of...

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GBPNZD - 22h expiry - We look to Buy at 1.9700 (stop at 1.9540) Previous support located at 1.9800. Previous resistance located at 1.9900. We expect a reversal in this move. Risk/Reward would be poor to call a buy from current levels. Our profit targets will be 2.0070 and 2.0100 Resistance: 1.9900 / 2.0000 / 2.0070 Support: 1.9800 / 1.9700 /...