NZDUSD - 24h expiry
There is no clear indication that the downward move is coming to an end.
Although we remain bearish overall, a correction is possible without impacting the trend lower. Short term RSI is moving lower.
Risk/Reward would be poor to call a sell from current levels.
A move through 0.5850 will confirm the bearish momentum.
We look to Sell at...
The Japanese is lower for a fourth straight trading day and has declined 2.1% during that time. In the North American session, USD/JPY is trading at 155.85 up 0.25% on the day.
The markets are braced for a sharp slowdown in third-quarter GDP, which will be released early Friday. The market estimate stands at 0.7% y/y, compared to a revised 3.1% in the second...
UK100 - 24h expiry
Price action looks to be forming a bottom.
A higher correction is expected.
The bias is still for lower levels and we look for any gains to be limited.
Rallies continue to attract sellers.
Further downside is expected although we prefer to sell into rallies close to the 8095 level.
We look to Sell at 8095 (stop at 8171)
Our profit...
ASX200 - 24h expiry
Indecisive price action has resulted in sideways congestion on the intraday chart.
Pivot resistance is at 8225.
We expect a reversal in this move.
Risk/Reward would be poor to call a sell from current levels.
A move through 8175 will confirm the bearish momentum.
Our profit targets will be 8150 and 8125
We look to Sell at 8225 (stop at...
The British pound continues to lose ground and is down for a fourth straight trading day. In the North American session, GBP/USD is trading at 1.2709, down 0.18% on the day. Earlier, the pound dropped below the 1.27 line for the first time since Aug. 8.
US inflation has been on a prolonged downswing but that streak has ended. After decelerating for six straight...
NZDUSD - 24h expiry
Indecisive price action has resulted in sideways congestion on the intraday chart.
Pivot support is at 0.5925. We expect a reversal in this move.
A move through 0.5950 will confirm the bullish momentum.
The measured move target is 0.6050.
We look to Buy at 0.5925 (stop at 0.5885)
Our profit targets will be 0.6025 and 0.6050
Resistance:...
The euro can’t seem to find its footing. EUR/USD is down for a third straight trading day and has declined 0.38% on Wednesday, trading at 1.0608 at the time of writing. Earlier today, the euro dropped as low as 1.0606, its lowest level since April 15.
The US dollar rose after Donald Trump’s decisive election win, and the dollar is getting a boost as the...
GER40 - 24h expiry
Offers ample risk/reward to buy at the market.
Posted a Double Bottom formation.
Our short term bias remains positive.
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
The sequence for trading is higher highs and lows.
The trend of higher lows is located at 19280....
The British pound is lower on Monday. In the North American session, GBP/USD is trading at 1.2870, down 0.33% on the day. The pound is coming of a sixth straight losing week, declining 3.5% during that time. It’s a quiet day on the data calendar, with no US events and only one minor UK release.
The UK releases the employment report for the three months to...
EURGBP - Intraday
Previous resistance located at 0.8350.
The lack of interest is a concern for bulls.
We look for a temporary move higher.
Preferred trade is to sell into rallies.
We are trading at overbought extremes.
Risk/Reward would be poor to call a sell from current levels.
We look to Sell at 0.8345 (stop at 0.8367)
Our profit targets will be 0.8290...
The Japanese yen has posted gains on Friday. In the European session, USD/JPY is trading at 152.38, down 0.36% on the day. The yen has taken traders on a roller-coaster ride this week, plunging 2% on Wednesday and rebounding on Thursday with a 1.1% gain.
Japan’s household spending fell by 1.1% y/y in September, following a 1.9% drop in August. This was better...
NZDJPY - 24h expiry
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
We are trading at overbought extremes.
Bearish divergence is expected to cap gains.
A lower correction is expected.
We look to Sell a break of 92.10.
We look to Sell a break of 92.10 (stop at 92.50)
Our profit targets will be 91.10 and...
The British pound has rebounded on Thursday. In the North American session, GBP/USD is trading at 1.2983, up 0.81% on the day. A day earlier, the pound took a drubbing, sliding 1.2%.
There was no surprise as the Bank of England lowered the key interest rate by 0.25% to 4.75%. The markets had priced in the move at close to 100% and the Monetary Policy Committee...
GBPUSD - 24h expiry
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
Price action looks to be forming a bottom.
Posted a Double Bottom formation.
Preferred trade is to buy on dips.
Bespoke support is located at 1.2865.
We look to Buy at 1.2865 (stop at 1.2825)
Our profit targets will be 1.2965 and 1.2985...
NZDUSD - 24h expiry
Price action has continued to trend strongly lower and has stalled at the previous support near 0.5925.
We expect a reversal in this move.
Risk/Reward would be poor to call a buy from current levels.
A move through 0.5975 will confirm the bullish momentum.
The measured move target is 0.6025.
We look to Buy at 0.5925 (stop at 0.5893)
Our...
The US dollar is on a tear against the major currencies after Donald Trump’s sweeping victory in the US presidential election. In the North American session, USD/JPY is trading at 154.62, up a massive 2.0% on the day.
There are still plenty of votes to count in the US election but it looking increasingly likely that Republican Donald Trump has been re-elected as...
EURAUD - 24h expiry
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
Price action looks to be forming a top.
We look for a temporary move lower.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 1.6500.
We look to Sell at 1.6500 (stop at 1.6550)
Our profit targets will be 1.6380...
The New Zealand dollar has moved higher on Tuesday. In the North American session, NZD/USD is trading at 0.5998, up 0.46% on the day.
The Reserve Bank of New Zealand released its semi-annual Financial Stability Report and the financial system received a favorable grade. That was it for the good news, as the report pointed to weak economic conditions that were...
