The Australian dollar is slightly lower on Tuesday. AUD/USD is trading at 0.6638 in the North American session, down 0.27% on the day.
Australia’s Westpac Consumer Sentiment index flexed some muscle earlier on Tuesday but that didn’t help the Australian dollar. The index jumped 1.7% in June, a strong turnaround after three straight declines. Despite the...
Australian dollar has started the week quietly. AUD/USD is trading at 0.6648 early in the North American session, up 0.11% on the day.
Australia releases Westpac Consumer Sentiment early on Tuesday. Consumer confidence has been weak and fell 0.3% in May to 82.4, following a 2.4% decline in April. Consumers have been pessimistic about the weak economy and concerns...
XAUUSD - 24h expiry
Our short term bias remains positive.
Offers ample risk/reward to buy at the market.
Price action continues to trade around significant highs.
50 1day EMA is at 2317.8.
Trend line support is located at 2318.
Setbacks should be limited to yesterday's low.
The primary trend remains bullish.
We look to Buy at 2319.0 (stop at 2303.0)
Our...
The British pound is slightly lower on Friday. GBP/USD is trading at 1.2636 early in the North American session, down 0.17% on the day.
UK retail sales jumped 2.9% m/m in May, an impressive turnaround from the revised 1.8% decline in April and blowing past the market estimate of 1.8%. This was the highest level since January. Yearly, retail sales climbed 1.3%,...
The British pound is lower on Thursday. GBP/USD is trading at 1.2683 in the North American session at the time of writing, down 0.29% on the day. The Bank of England held rates at today’s meeting, as expected. There are no releases out of the US today.
There were no surprises as the Bank of England maintained interest rates at today’s meeting. The BoE kept the...
EURJPY - 24h expiry
We are trading at overbought extremes.
Price action looks to be forming a top.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower.
We look to sell rallies.
Although the anticipated move lower is corrective, it does offer ample risk/reward today.
We look to Sell at...
NZDUSD - 24h expiry
Indecisive price action has resulted in sideways congestion on the daily chart.
RSI (relative strength indicator) is flat and reading close to 50 (mid-point) highlighting the fact that we are non- trending.
RSI (relative strength indicator) is flat and reading close to 50 (mid-point) highlighting the fact that we are non- trending.
A move...
The Swiss franc is almost unchanged on Wednesday. USD/CHF is trading at 0.8838 in the North American session, down 0.04% on the day.
Switzerland’s central bank will announce its rate decision on Thursday and the markets are on edge. Will the Swiss National Bank lower rates or hold? The SNB last met in March and that meeting was memorable, as policy makers shocked...
XAUUSD - 24h expiry
The trend of higher lows is located at 2304.
Trend line support is located at 2303.
The primary trend remains bullish.
We are trading at overbought extremes.
Preferred trade is to buy on dips.
We look to Buy at 2306.5 (stop at 2292.5)
Our profit targets will be 2341.5 and 2347.5
Resistance: 2325.0 / 2341.7 / 2354.5
Support: 2316.8 /...
CHN50 - 24h expiry
Price action has continued to trend strongly lower and has stalled at the previous support near 12150. Price action looks to be forming a bottom.
RSI (relative strength indicator) is flat and reading close to 50 (mid-point) highlighting the fact that we are non- trending.
Risk/Reward would be poor to call a buy from current levels.
A move...
The euro is steady on Monday. EUR/USD is trading at 1.0714 in the North American session, up 0.10% on the day.
France’s financial markets took a tumble late last week, as investors are nervous about the snap parliamentary election at the end of June. There are fears that the extreme right could make strong gains, as was the case in the recent European Union...
EURGBP - 24h expiry
The primary trend remains bearish.
The sequence for trading is lower lows and highs.
Risk/Reward would be poor to call a sell from current levels.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 0.8455.
We look to Sell at 0.8455 (stop at 0.8473)
Our profit targets will be 0.8410 and 0.8400
Resistance: 0.8455...
The euro has extended its losses on Friday. EUR/USD is trading at 1.0675 in the European session, down 0.59% on the day. The euro is down 1.17% this week and has dropped to its lowest level since May 1st.
France’s inflation level fell to zero in May, confirming the preliminary estimate and down from the 0.5% gain in April. France is the eurozone’s second-largest...
EURNZD - Intraday
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.
Offers ample risk/reward to sell at the market.
There is no clear indication that the downward move is coming to an end.
20 4hour EMA is at 1.7483.
We look to Sell at 1.7482...
The British pound has lost ground on Thursday. GBP/USD is trading at 1.2760 in the North American session at the time of writing, down 0.29% on the day.
The UK economy showed no growth in April, which was in line with expectations but below the March reading of 0.4% m/m. This was the weakest reading in four months, as manufacturing and construction declined,...
USDCAD - 24h expiry
The current move higher is expected to continue.
Risk/Reward would be poor to call a buy from current levels.
Short term RSI is moving higher.
A move through 1.3750 will confirm the bullish momentum.
The measured move target is 1.3780.
We look to Buy at 1.3725 (stop at 1.3700)
Our profit targets will be 1.3790 and 1.3810
Resistance:...
AUDJPY - 24h expiry
Indecisive price action has resulted in sideways congestion on the intraday chart.
RSI (relative strength indicator) is flat and reading close to 50 (mid-point) highlighting the fact that we are non- trending.
Pivot support is at 103.00.
Risk/Reward would be poor to call a buy from current levels.
A move through 103.75 will confirm the...
The British pound is drifting on Tuesday. GBP/USD is trading at 1.2720 in the European session at the time of writing, down 0.08% on the day. The UK released the May employment report earlier today. Next up is GDP on Wednesday, with a market estimate of 0% m/m for April, following a 0.4% gain in March.
Today’s UK employment report indicated that the labor market...
