CHN50 - 24h expiry
Price action looks to be forming a bottom.
Further upside is expected.
Risk/Reward would be poor to call a buy from current levels.
A move through 13300 will confirm the bullish momentum.
The measured move target is 13550.
We look to Buy at 13175 (stop at 13025)
Our profit targets will be 13575 and 13640
Resistance: 13300 / 13525 /...
The British pound has posted sharp gains on Wednesday. In the North American session, GBP/USD is trading at .1.2669, up 0.81% on the day.
There are no UK releases today, but in the US it’s a busy data calendar. US GDP (second estimate) showed a gain of 2.8%, unchanged from the initial estimate. The economy is expected to show growth of 2.6% in the third quarter,...
ASX200 - 24h expiry
Price action has continued to trend strongly lower and has stalled at the previous support near 8350.
The correction lower is assessed as being complete.
RSI (relative strength indicator) is flat and reading close to 50 (mid-point) highlighting the fact that we are non- trending.
A move through 8400 will confirm the bullish momentum.
The...
The New Zealand dollar is in positive territory on Tuesday, after a four-day losing streak. In the European session, NZD/USD is trading at 0.5850, up 0.09% on the day. Earlier, the New Zealand dollar fell as low as 0.5797, its lowest level since Nov. 1.
The Reserve Bank of New Zealand makes its rate announcement on Wednesday and the markets have priced in a jumbo...
NZDUSD - 24h expiry
Price action has continued to trend strongly lower and has stalled at the previous support near 0.5825.
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 0.5850 will confirm the bullish momentum.
We look to Buy at 0.5825 (stop at...
EURJPY - 24h expiry
Buying pressure from 159.87 resulted in prices rejecting the dip.
The current move higher is expected to continue.
Short term bias has turned negative.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Further downside is expected although we prefer to sell into rallies close to the 162.85...
The British pound is lower for a straight third trading day on Friday. In the North American session, GBP/USD is trading at 1.2543, down 0.36% on the day.
UK retail sales disappointed in October, with a sharp decline of 0.7% m/m. This follows a downwardly revised 0.1% gain in September and missed than the market estimate of 0.3%. Annually, retail sales rose 2.4%,...
The British pound has lost ground on Thursday. In the North American session, GBP/USD is trading at 1.2506, down 0.44% on the day. Earlier, the pound dropped as low as 1.2593, its lowest level since mid-May.
It’s a busy Friday in the UK, highlighted by the retail sales report. We’ll also get a look at consumer confidence and the services and manufacturing...
EURJPY - 24h expiry
We are trading at oversold extremes.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
Preferred trade is to buy on dips.
The hourly chart technicals suggests further downside before the uptrend returns.
We therefore, prefer to fade into the dip with a tight stop...
NZDJPY - 24h expiry
The primary trend remains bullish.
The selloff is close to an exhaustion count on the daily chart.
Preferred trade is to buy on dips.
Bespoke support is located at 90.50.
The hourly chart technicals suggests further downside before the uptrend returns.
We look to Buy at 90.50 (stop at 90.25)
Our profit targets will be 91.50 and 92.00...
The euro is down sharply on Wednesday. In the North American session, EUR/USD is trading at 1.0510, down 0.80% on the day at the time of writing.
Financial stability reviews seldom make the headlines, unless the message is a stark one. That was the case today as the ECB’s financial stability review warned that the eurozone could face a financial crisis due to a...
The British pound is steady on Tuesday. In the North American session, GBP is trading at 1.2678 at the time of writing, unchanged on the day. On Monday, the pound ended a six-day slide, during which the currency lost 2.8%.
The Bank of England has done an excellent job slashing inflation, which was in double digits for much of 2023. The September inflation report...
GBPUSD - 24h expiry
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
We are trading at oversold extremes.
Bullish divergence is expected to support prices.
Preferred trade is to buy on dips.
Bespoke support is located at 1.2630.
We look to Buy at 1.2630 (stop at 1.2590)
Our profit targets will be 1.2730...
The Japanese yen is lower on Monday. In the European session, USD/JPY is trading at 155.08, up 0.51% on the day.
Bank of Japan Governor Ueda sent mixed signals about a rate hike in December, leaving investors unclear and sending the yen lower against the US dollar. Ueda said that the timing of a rate hike depended on economic conditions. He noted that there was...
USDCHF - 24h expiry
Our short term bias remains positive.
There is no clear indication that the upward move is coming to an end.
Offers ample risk/reward to buy at the market.
20 4hour EMA is at 0.8864.
Our outlook is bullish.
We look to Buy at 0.8864 (stop at 0.8840)
Our profit targets will be 0.8924 and 0.8934
Resistance: 0.8885 / 0.8900 /...
EURGBP - Intraday
The primary trend remains bearish.
Our short term bias remains negative.
Preferred trade is to sell into rallies.
20 1day EMA is at 0.8338.
Early optimism is likely to lead to gains although extended attempts higher are expected to fail.
We look to Sell at 0.8338 (stop at 0.8362)
Our profit targets will be 0.8278 and 0.8268
Resistance:...
The Japanese yen is in positive territory today, putting the brakes on a four-day skid. In the European session, USD/JPY is trading at 155.54 down 0.45% on the day.
Japan’s economy expanded by 0.9% in the third quarter, below the revised 2.2% gain in Q2 but above the market estimate of 0.7%. Quarterly, GDP rose 0.2%, lower than the 0.5% gain in Q2 and matching...
NZDUSD - 24h expiry
There is no clear indication that the downward move is coming to an end.
Although we remain bearish overall, a correction is possible without impacting the trend lower. Short term RSI is moving lower.
Risk/Reward would be poor to call a sell from current levels.
A move through 0.5850 will confirm the bearish momentum.
We look to Sell at...
