The British pound has slightly lower on Friday. GBP/USD is trading at 1.2922 in the North American session, down 0.17% on the day. The pound has sparkled in the month of July but has hit a snag, dropping 0.50% on Thursday and extending those losses today.
UK retail sales suffered a turnaround in June, falling 1.2% m/m after a strong gain of 2.9% in May and below...
AUDUSD - 24h expiry
The primary trend remains bullish.
A lower correction is expected.
The hourly chart technicals suggests further downside before the uptrend returns.
Preferred trade is to buy on dips.
Bespoke support is located at 0.6670.
We look to Buy at 0.6670 (stop at 0.6646)
Our profit targets will be 0.6730 and 0.6745
Resistance: 0.6710 / 0.6730...
The euro has edged lower on Thursday. Early in the North American session, EUR/USD is trading at 1.0919, down 0.18% on the day. The euro hasn’t posted a losing day since July 9, gaining 1% during that period.
The European Central Bank maintained its key lending rate at 3.75% at today’s meeting, after cutting rates by a quarter-point in June. The decision to hold...
GBPUSD - 24h expiry
The medium term bias remains bullish.
The sequence for trading is higher highs and lows.
A lower correction is expected.
Preferred trade is to buy on dips.
Bespoke support is located at 1.2950.
We look to Buy at 1.2950 (stop at 1.2910)
Our profit targets will be 1.3050 and 1.3070
Resistance: 1.3010 / 1.3040 / 1.3070
Support: 1.2950 /...
The British pound continues to roll and is up for a sixth straight day. GBP/USD is trading at 1.3038 in the European session, up 0.51% on the day. The pound has sparkled in July, climbing 3% and hitting its highest level since July 2023.
UK consumer inflation remained at 2% y/y in July, unchanged from June. This was higher than the market estimate of 1.9% but...
EURNZD - 24h expiry
Our short term bias remains positive.
Setbacks should be limited to yesterday's low.
We look to buy dips.
20 4hour EMA is at 1.7921.
There is no clear indication that the upward move is coming to an end.
We look to Buy at 1.7928 (stop at 1.7878)
Our profit targets will be 1.8048 and 1.8068
Resistance: 1.7978 / 1.8061 / 1.8100
Support:...
NZDUSD - 24h expiry
The trend of lower highs is located at 0.6150.
Further downside is expected.
Risk/Reward would be poor to call a sell from current levels.
A move through 0.6040 will confirm the bearish momentum.
The measured move target is 0.6025.
We look to Sell at 0.6060 (stop at 0.6080)
Our profit targets will be 0.6010 and 0.6000
Resistance:...
The New Zealand dollar has posted sharp losses for a second successive day. NZD/USD is trading at 0.6042 in the North American session, down 0.54% on the day at the time of writing. The New Zealand dollar has declined 1.3% this week and is trading at its lowest level since May 15.
New Zealand releases the second quarter inflation report early Wednesday. The...
The euro keeps pushing higher and is up for a fourth straight day. EUR/USD is trading at 1.0913, up 0.34% on the day. Earlier, the euro touched a high of 1.0920, its highest level since March 21.
The US dollar has hit a rough patch in recent weeks and has lost ground against the major currencies. The euro has sparkled in July, gaining 1.9%.
Eurozone industrial...
EURCHF - 24h expiry
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
Mixed but positive price action has resulted in consecutive, narrow-ranged, sideways trading days.
Offers ample risk/reward to buy at the market.
20 4hour EMA is at 0.9740.
We look to buy dips.
We look to Buy at...
The Japanese yen has edged lower on Friday, after posting huge gains a day earlier. USD/JPY is trading at 159.16 in the European session, up 0.26% on the day at the time of writing.
The US dollar was down against most of the major currencies on Thursday, after a softer--than-expected US CPI report raised expectations for a rate cut in September. The yen was the...
Gold - 24h expiry
Yesterday's Marabuzo is located at 2393.5.
Price action continues to trade around the all-time highs.
The primary trend remains bullish.
Dips continue to attract buyers.
20 4hour EMA is at 2388.4.
We look to Buy at 2390.5 (stop at 2374.5)
Our profit targets will be 2430.5 and 2438.5
Resistance: 2415.0 / 2424.6 / 2431.4
Support: 2405.5 /...
USDCAD - 24h expiry
Price action has continued to trend strongly lower and has stalled at the previous support near 1.3600.
Price action looks to be forming a bottom.
We expect a reversal in this move.
Momentum is flat, highlighting the lack of clear direction.
Risk/Reward would be poor to call a buy from current levels.
A move through 1.3625 will confirm...
The British pound has extended its gains on Thursday. GBP/USD is trading at 1.2876 in the European session, up 0.22% on the day.
The sun is shining in London today and there’s plenty to smile about besides the pleasant weather. England has punched their ticket to the final of the Euro football tournament and UK GDP was stronger than expected. The British pound...
CHN50 - 24h expiry
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.
Price action has stalled at good resistance levels and currently trades just below here (12100).
A move through 12000 will confirm the bearish momentum.
The measured move target is 11850.
We look to Sell...
The New Zealand dollar is sharply lower on Wednesday. NZD/USD is trading at 0.6081 in the European session, down 0.72% on the day at the time of writing.
The Reserve Bank of New Zealand held the cash rate at 5.50% at today’s meeting, the eight consecutive time it has maintained rates. No surprise there, but the rate statement was very dovish, which was completely...
The New Zealand dollar is steady on Tuesday. NZD/USD is trading at 0.6115, down 0.16% in the European session at the time of writing. The New Zealand dollar looked sharp last week against the slumping US dollar, climbing 0.88%.
The Reserve Bank of New Zealand is expected to hold its cash rate at 5.50% for an eighth straight time when its meets early on Wednesday....
UK100 - 24h expiry
Price action looks to be forming a bottom.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
Dip buying offers good risk/reward.
We look for a temporary move lower.
Further upside is expected although we prefer to buy into dips close to the 8175 level.
We look...
