HS50 - 24h expiry
Price action looks to be forming a bottom.
A Doji style candle has been posted from the high.
A lower correction is expected.
Short term bias is mildly bullish.
Preferred trade is to buy on dips.
Economic figures could adversley affect the short term technical picture.
We look to Buy at 19480 (stop at 19280)
Our profit targets will be...
EURJPY - 24h expiry
Buying pressure from 156.17 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.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Further downside is expected although we prefer to...
The Australian dollar has taken a tumble on Wednesday. In the European session, AUD/USD is trading at 0.6416, down 1.1% on the day at the time of writing. Earlier, the Australian dollar dropped as low as 0.6407, its lowest level since August 5.
Australia’s GDP report was a disappointment, falling short of expectations. GDP rose 0.3% q/q in the third quarter,...
ASX200 - 24h expiry
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
A lower correction is expected.
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
Preferred trade is to buy on dips.
Economic figures could adversley affect the...
The Australian dollar is drifting on Tuesday. In the North American session, AUD/USD is trading at 0.6461, down 0.20% on the day at the time of writing.
Australia’s economy is expected to improve in the third quarter, with a market estimate of 0.4% q/q. This follows a disappointing gain of 0.2% in Q2, the weakest growth in five quarters, as household spending...
EURNZD - 24h expiry
Our short term bias remains negative.
Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end.
Preferred trade is to sell into rallies.
50 4hour EMA is at 1.7888.
Risk/Reward would be poor to call a sell from current levels.
We look to Sell at 1.7885 (stop at 1.7945)...
NZDUSD - 24h expiry
The medium term bias remains bearish.
The rally has posted a correction count on the daily chart.
Risk/Reward would be poor to call a sell from current levels.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 0.5900.
We look to Sell at 0.5905 (stop at 0.5929)
Our profit targets will be 0.5845 and 0.5830...
The Japanese yen is lower on Monday. In the European session, USD/JPY is trading at 150.03, up 0.26% on the day.
Bank of Japan Governor Ueda has been hinting about a rate hike and gave what was perhaps his strongest hint on Friday. In a newspaper interview, Ueda said that interest rate hikes are “nearing in the sense that economic data are on track”. Ueda also...
USDCHF - 24h expiry
Daily signals are bullish.
20 1day EMA is at 0.8806.
The overnight dip has been bought into and there is scope for further bullish pressure going into this morning.
We look to buy dips.
Our outlook is bullish.
Support is located at 0.8800 and should stem dips to this area.
We look to Buy at 0.8806 (stop at 0.8778)
Our profit targets...
The Japanese yen has surged higher on Friday after a strong inflation release. In the European session, USD/JPY is trading at 150.19, down 0.87% on the day. Earlier, the yen has broken below the symbolic 150 level for the first time since Oct. 21.
Tokyo Core CPI, a key inflation indicator which excludes fresh food and energy, rose 2.2% in November, above market...
GBPUSD - 24h expiry
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
A higher correction is expected.
Intraday signals are mixed.
Preferred trade is to buy on dips.
Bespoke support is located at 1.2610.
We look to Buy at 1.2610 (stop at 1.2565)
Our profit targets will be 1.2745 and 1.2800
Resistance:...
The Japanese yen is lower on Thursday, after climbing 2.4% over the past two trading sessions. In the European session, USD/JPY is trading at 151.83, up 0.57% on the day. On the data calendar, Japan releases Tokyo Core CPI. In the US, the financial markets are closed for the Thanksgiving holiday and there are no US events.
Tokyo Core CPI, a leading indicator of...
CHN50 - 24h expiry
Price action looks to be forming a bottom.
Further upside is expected.
Risk/Reward would be poor to call a buy from current levels.
A move through 13300 will confirm the bullish momentum.
The measured move target is 13550.
We look to Buy at 13175 (stop at 13025)
Our profit targets will be 13575 and 13640
Resistance: 13300 / 13525 /...
The British pound has posted sharp gains on Wednesday. In the North American session, GBP/USD is trading at .1.2669, up 0.81% on the day.
There are no UK releases today, but in the US it’s a busy data calendar. US GDP (second estimate) showed a gain of 2.8%, unchanged from the initial estimate. The economy is expected to show growth of 2.6% in the third quarter,...
ASX200 - 24h expiry
Price action has continued to trend strongly lower and has stalled at the previous support near 8350.
The correction lower is assessed as being complete.
RSI (relative strength indicator) is flat and reading close to 50 (mid-point) highlighting the fact that we are non- trending.
A move through 8400 will confirm the bullish momentum.
The...
The New Zealand dollar is in positive territory on Tuesday, after a four-day losing streak. In the European session, NZD/USD is trading at 0.5850, up 0.09% on the day. Earlier, the New Zealand dollar fell as low as 0.5797, its lowest level since Nov. 1.
The Reserve Bank of New Zealand makes its rate announcement on Wednesday and the markets have priced in a jumbo...
NZDUSD - 24h expiry
Price action has continued to trend strongly lower and has stalled at the previous support near 0.5825.
Price action looks to be forming a bottom.
We expect a reversal in this move.
Risk/Reward would be poor to call a buy from current levels.
A move through 0.5850 will confirm the bullish momentum.
We look to Buy at 0.5825 (stop at...
EURJPY - 24h expiry
Buying pressure from 159.87 resulted in prices rejecting the dip.
The current move higher is expected to continue.
Short term bias has turned negative.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Further downside is expected although we prefer to sell into rallies close to the 162.85...
