ASX200 - 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.
We expect a reversal in this move.
Risk/Reward would be poor to call a sell from current levels.
A move through 7770 will confirm the...
The euro has gained ground on Thursday. EUR/USD is trading at 1.0707, up 0.26% on the day. The euro has stayed close to the 1.07 line for much of the week as it looks for direction.
The eurozone releases the June inflation report next week. The French inflation release, which will be released on Friday, could be a precursor for the eurozone release. French...
WTI - 24h expiry
Bespoke support is located at 80.70.
Offers ample risk/reward to buy at the market.
Our short term bias remains positive.
50 4hour EMA is at 80.73.
80.59 has been pivotal.
We look to Buy at 80.75 (stop at 79.95)
Our profit targets will be 82.75 and 83.25
Resistance: 81.50 / 82.24 / 83.00
Support: 80.50 / 79.50 / 79.00
Risk...
NZDUSD - 24h expiry
Previous support level of 0.6100 broken.
Further downside is expected.
Risk/Reward would be poor to call a sell from current levels.
Short term RSI has turned negative.
The measured move target is 0.6040.
We look to Sell at 0.6100 (stop at 0.6124)
Our profit targets will be 0.6040 and 0.6025
Resistance: 0.6090 / 0.6100 /...
GBPAUD - 24h expiry
The medium term bias remains bearish.
The sequence for trading is lower lows and highs.
A higher correction is expected.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 1.9150.
We look to Sell at 1.9150 (stop at 1.9200)
Our profit targets will be 1.9030 and 1.9000
Resistance: 1.9150 / 1.9200 / 1.9250
Support:...
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...
