ASX200 - 24h expiry
There is no clear indication that the upward move is coming to an end.
Although we remain bullish overall, a correction is possible with plenty of room to move lower without impacting the trend higher.
Risk/Reward would be poor to call a buy from current levels.
A move through 7800 will confirm the bullish momentum.
The measured move...
The Japanese yen is calm on Monday. In the North American session, USD/JPY is trading at 156.91, up 0.09% on the day at the time of writing.
Japan’s GDP declines
Japan’s economy contracted in the first quarter with a weak reading of -1.8% y/y,
following a revised 0.4% gain in Q4 2023. This was slightly higher than the market
estimate of -1.9% and the initial...
GER40 - 24h expiry
Expect trading to remain mixed and volatile.
Price action continues to trade around significant highs.
The bullish engulfing candle on the 4 hour chart the positive for sentiment.
Support is located at 18420 and should stem dips to this area.
Dip buying offers good risk/reward.
We look to Buy at 18425 (stop at 18325) 2,5RR
Our profit...
USDCHF - Intraday
We look for losses to be extended today.
There is no clear indication that the downward move is coming to an end.
Short term momentum is bearish.
0.8884 has been pivotal.
A break of the recent low at 0.8883 should result in a further move lower.
We look to Sell a break of 0.8879 (stop at 0.8907)
Our profit targets will be 0.8809 and...
The Japanese yen is calm on Friday. In the European session, USD/JPY is trading at 155.50, down 0.06% on the day at the time of writing.
Japan’s economic activity has been sluggish and household spending, a key driver of economic growth, declined by 1.2% m/m in April. This followed a 1.2% gain in March and was well short of the market estimate of 0.2%. On a...
The Japanese yen is steady on Thursday after showing sharp swings throughout the week. In the North American session, USD/JPY is trading at 156.27, up 0.10% on the day at the time of writing.
Japan’s consumers have been holding tight on the purse strings as inflation remains high and economic conditions remain gloomy. In March, household spending declined to 1.2%...
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.
20 4hour EMA is at 1.7597.
We look for a temporary move higher.
The sequence for trading is lower lows and highs.
We look to Sell at 1.7598 (stop at 1.7648)
Our profit...
EURJPY - 24h expiry
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
We are trading at overbought extremes.
Indecisive price action has resulted in sideways congestion on the intraday chart.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further...
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.
50 4hour EMA is at 1.7683.
We look for a temporary move higher.
The sequence for trading is lower lows and highs.
We look to Sell at 1.7683 (stop at 1.7733)
Our profit...
CN50USD - 24h expiry
Price action has continued to trend strongly lower and has stalled at the previous support near 12400.
Momentum is flat, highlighting the lack of clear direction.
Price action looks to be forming a bottom.
Risk/Reward would be poor to call a buy from current levels.
A move through 12500 will confirm the bullish momentum.
The measured...
GER40 - 24h expiry
The primary trend remains bullish.
Price action continues to trade around significant highs.
Prices have reacted from 18381.
Previous support located at 18550.
Preferred trade is to buy on dips.
Our outlook is bullish.
We look to Buy at 18520 (stop at 18420)
Our profit targets will be 18770 and 18850
Resistance: 18670 / 18750 /...
Swiss franc has extended its gains on Monday. USD/CHF is trading at 0.8961 in the North American session, down 0.68%.
The Swiss franc posted its strong weekly gain of the year last week, rising 1.35%. The Swissie jumped over 1% on Thursday after Swiss National Bank President Jordan hinted that the central bank could intervene in the currency markets in order to...
The euro has edged higher after eurozone CPI was hotter than anticipated. EUR/USD is trading at 1.0848 in the European session, up 0.27% on the day.
The inflation rate in the eurozone surprised the markets with a hotter-than-expected release for May. The headline figure rose to 2.6% y/y, up from 2.4% in each of the past two months and higher than the market...
The euro has in positive territory on Thursday. EUR/USD is trading at 1.0840 in the North American session, up 0.37% on the day.
The week wraps up with eurozone inflation on Friday. The market estimate for May stands at 2.5% y/y/, compared to 2.4% in April. The core inflation rate is expected to tick higher to 2.8% y/y, up from 2.7% in April.
In Germany, the...
GBPCHF - 24h expiry
We are trading at oversold extremes.
This is positive for sentiment and the uptrend has potential to return.
The hourly chart technicals suggests further downside before the uptrend returns.
Previous resistance at 1.1513 now becomes support.
We look to buy dips.
We look to Buy at 1.1513 (stop at 1.1473)
Our profit targets will be 1.1613...
AUDUSD - 24h expiry
The medium term bias remains bullish.
The selloff has posted a correction count on the daily chart.
Previous resistance level of 0.6650 broken.
A lower correction is expected.
Setbacks should be limited to yesterday's low.
We look to Buy at 0.6625 (stop at 0.6601)
Our profit targets will be 0.6685 and 0.6695
Resistance: 0.6680 /...
GBPAUD - 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.
Risk/Reward would be poor to call a sell from current levels.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 1.9230.
We look to Sell at 1.9230 (stop at 1.9280)
Our...
The Australian dollar has edged higher on Tuesday. AUD/USD is trading at 0.6667, up 0.25% on the day at the time of writing.
Australia’s retail sales rise 0.1%, CPI next
Australian consumers remain frugal and cautious, as retail sales rose just 0.1% m/m April. This was a rebound from the 0.4% decline in March and beat the market estimate of 0.2%. On a yearly...
