HS50 - 24h expiry
Selling posted in Asia.
Short term bias is bullish.
Price action looks to be forming a bottom.
Preferred trade is to buy on dips.
Weekly pivot is at 17348.
We look to Buy at 17350 (stop at 17190)
Our profit targets will be 17750 and 17850
Resistance: 17870 / 18600 / 19780
Support: 17285 / 16695 / 15860
Risk Disclaimer
The trade ideas...
The Canadian dollar is almost unchanged on Tuesday after posting gains over the past two days. In the North American session, USD/CAD is trading at 1.3636 at the time of writing.
Canada’s headline CPI rose to 2.5% year-on-year in July, down from 2.7% in June and matching the market estimate. This marked the lowest annual inflation level since March 2021. Monthly,...
SPX500USD - 24h expiry
Continued upward momentum from 5544 resulted in the pair posting net daily gains yesterday.
5 positive daily performances in succession.
The 261.8% Fibonacci extension is located at 5728 from 5094 to 5336.
The previous swing high is located at 5680.
Further upside is expected although we prefer to set longs at our bespoke support...
The Australian dollar has started the week with slight gains. AUD/USD is trading at 0.6685 in the European session, up 0.24% on the day at the time of writing. Earlier today, the Australian dollar rose as high as 0.6694, marking a one-month high.
Hawkish remarks from Reserve Bank of Australia’s Governor Bullock sent the Aussie flying on Friday. Bullock reiterated...
EURGBP - Intraday
Preferred trade is to buy on dips.
We look to buy dips.
Daily signals are bullish.
20 1day EMA is at 0.8517.
We look for a temporary move lower.
We look to Buy at 0.8515 (stop at 0.8491)
Our profit targets will be 0.8575 and 0.8590
Resistance: 0.8535 / 0.8550 / 0.8575
Support: 0.8528 / 0.8515 / 0.8500
Risk Disclaimer
The trade ideas...
The British pound has extended its gains on Friday. GBP/USD is trading at 1.2887 in the European session, up 0.31% on the day at the time of writing. It has been a winning week for the pound, which has climbed 1%.
There was more good news from the UK economy as retail sales rebounded in July by 0.5% m/m, after a revised decline of 0.9% in June and in line with...
EURAUD - 24h expiry
The medium term bias remains bearish.
Rallies continue to attract sellers.
Risk/Reward would be poor to call a sell from current levels.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 1.6690.
We look to Sell at 1.6690 (stop at 1.6750)
Our profit targets will be 1.6540 and 1.6500
Resistance: 1.6690 / 1.6740 /...
The British pound posted losses earlier but has clawed back and is in positive territory. GBP/USD is trading at 1.2846 in the North American session, up 0.20% on the day.
After sustaining a technical session in the second half of 2023, the UK economy is on a rebound. GDP climbed 0.6% in the second quarter, in line with expectations and a notch lower than the Q1...
USDCAD - 24h expiry
Price action has continued to trend strongly lower and has stalled at the previous support near 1.3700.
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 1.3725 will confirm the bullish momentum.
We look to Buy at 1.3700 (stop at...
The British pound is showing limited movement on Wednesday. GBP/USD is trading at 1.2844 in the European session, down 0.15% on the day.
Headline inflation in the UK rose 2.2% y/y in July, up from 2% in June but below the market estimate of 2.3%. Perhaps most important for the Bank of England, services inflation slowed to 5.2%, the lowest since June 2022 and well...
CHN50 - 24h expiry
Price action has continued to trend strongly higher and has stalled at the previous resistance near 11700.
RSI (relative strength indicator) is flat and reading close to 50 (mid-point) highlighting the fact that we are non- trending.
We expect a reversal in this move.
Risk/Reward would be poor to call a sell from current levels.
A move...
XAUUSD - 24h expiry
Price action continues to trade around the all-time highs.
Preferred trade is to buy on dips.
Yesterday's Marabuzo is located at 2451.
Risk/Reward would be poor to call a buy from current levels.
The primary trend remains bullish.
We look to Buy at 2451.5 (stop at 2435.5)
Our profit targets will be 2491.5 and 2501.5
Resistance: 2477.7...
The British pound is drifting on Monday. GBP/USD is trading at 1.2768 early in the North American session, up 0.08% on the day.
The UK releases the employment report for the three months to June and we could see signs of a cooling labour market. Annualized average earnings including bonuses, which has hovered between 5.5%-6% all year, is expected to fall sharply...
The Canadian dollar has shined this week, posting gains over the past four days and rising 1%. Will the impressive rally continue? In the North American session, USD/CAD is trading at 1.3732, unchanged on the day.
Canada wraps up the week with the July employment report. The June report was soft, with job growth coming in at -1.4 thousand, a rare decline. The...
The New Zealand dollar has soared today. In the European session, NZD/USD is trading at 0.6018, up an impressive 1.1% at the time of writing.
New Zealand’s labour market has been cooling off due to elevated interest rates and the markets were braced for a soft jobs report for the second quarter. Instead, job growth rebounded and unemployment was lower than...
GER40 - 24h expiry
Bullish divergence is expected to support prices.
The bullish engulfing candle on the 4 hour chart the positive for sentiment.
We are trading at oversold extremes. A higher correction is expected.
The bias is to break to the upside.
A break of the recent high at 17565 should result in a further move higher.
We look to Buy a break of 17585...
GBPAUD - 24h expiry
The primary trend remains bullish.
A lower correction is expected.
Price action has formed an expanding wedge formation.
Preferred trade is to buy on dips.
Bespoke support is located at 1.9475.
We look to Buy at 1.9475 (stop at 1.9395)
Our profit targets will be 1.9675 and 1.9715
Resistance: 1.9625 / 1.9690 / 1.9760
Support: 1.9475 /...
The Australian dollar gained ground earlier but has reversed directions and has edged lower. In the European session, AUD/USD is trading at 0.6778, down 0.24% at the time of writing.
The Reserve Bank of Australia held the cash rate at 4.35% for a seventh straight time today. The markets had fully priced in this move and the Australian dollar’s reaction has been...
