AU200AUD - 24h expiry
Buying pressure from 7494 resulted in prices rejecting the dip.
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.
We look for a temporary move lower.
Further upside is expected although we prefer to buy into dips close to the...
The Australian dollar is in negative territory on Tuesday. In the North American session, AUD/USD is trading at 0.6685, down 0.51%.
Australia's retail sales sparkled in November but the strong rebound wasn't reflected in the Australian dollar. Retail sales climbed 2.0% m/m in November, blowing past the estimate of 1.2% and recovering from a revised 0.4% decline...
UK100GB - 24h expiry
The correction lower is assessed as being complete.
Further upside is expected.
Short term RSI has turned positive.
A move through 7725 will confirm the bullish momentum.
The measured move target is 7775.
We look to Buy at 7710 (stop at 7670)
Our profit targets will be 7810 and 7830
Resistance: 7725 / 7750 / 7775
Support: 7700 / 7685...
SPX500USD - 24h expiry
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
A Doji style candle has been posted from the base.
The primary trend remains bullish.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
We look to buy dips....
The Japanese yen has started the week with slight gains and is trading at 144.39 in the European session, up 0.16%. It was a rough week for the yen, which declined 2.5% against the US dollar, which has looked sharp against most of the majors since New Year's.
US nonfarm payrolls ended 2023 on a strong note. The economy added 216,000 jobs in December, compared to...
US500 - Intraday
Previous support level of 4700 broken.
Short term bias has turned negative.
We are trading at oversold extremes.
We look for a temporary move lower.
Preferred trade is to sell into rallies.
- We look to Sell at 4700 (stop at 4729)
Our profit targets will be 4645 and 4615
Resistance: 4750 / 4820 / 4920
Support: 4610 / 4500 / 4415
Risk...
The euro is in negative territory on Friday. In the European session, EUR/USD is trading at 1.0908, down 0.33%.
Eurozone inflation has been falling and dropped to 2.4% y/y in November, within striking distance of the 2% target. The downward trend reversed itself in December, as CPI jumped to 2.9%, just below the consensus estimate of 3.0%. This was the first...
EURCHF - Intraday
Price action continued to range between key support & resistance (0.9255 - 0.9323) and we expect this to continue.
The bias is to break to the downside.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 0.9323.
There is no clear indication that the downward move is coming to an end.
We look to Sell at 0.9323 (stop...
NZDJPY - 24h expiry
The trend of lower highs is located at 90.50.
We expect a reversal in this move.
Risk/Reward would be poor to call a sell from current levels.
A move through 89.75 will confirm the bearish momentum.
The measured move target is 89.50.
We look to Sell at 90.30 (stop at 90.70)
Our profit targets will be 89.30 and 89.05
Resistance: 90.30 /...
The British pound has edged higher on Thursday. In the North American session, GBP/USD is trading at 1.2698, up 0.27%.
UK Services Final PMI was a bright note on Thursday. The PMI rose to 53.4 in December, up from 50.9 in November and above the preliminary estimate of 52.7. This marked a second straight expansion after posting three consecutive declines. This was...
EURNZD - 24h expiry
Daily signals are bearish.
Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 1.7520.
Expect trading to remain mixed and volatile.
We look to Sell at 1.7518 (stop at 1.7578)
Our profit...
NZDUSD - 24h expiry
There is no clear indication that the downward move is coming to an end.
Short term RSI is moving lower.
Further downside is expected.
Risk/Reward would be poor to call a sell from current levels.
A move through 0.6225 will confirm the bearish momentum.
We look to Sell at 0.6260 (stop at 0.6288)
Our profit targets will be 0.6190 and...
USDJPY - 24h expiry
The medium term bias remains bearish.
Trading within the Channel formation.
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.
We look to Sell at 143.25 (stop at 143.85)
Our profit targets will be 141.75 and 141.35
Resistance: 143.25...
The euro has steadied on Wednesday after sustaining sharp losses a day earlier. In the European session, EUR/USD is trading at 1.0932, down 0.08% and its lowest level since December 21.
The US dollar has been struggling in recent weeks but came flying out of the gates on Tuesday, the first trading day of the New Year. The euro fell 0.88% against the dollar, its...
ASX200 - 24h expiry
We are trading at overbought extremes.
A Doji style candle has been posted from the base.
Our overall sentiment remains bullish looking for higher levels.
This is positive for sentiment and the uptrend has potential to return.
Preferred trade is to buy on dips.
We look to Buy at 7578 (stop at 7528)
Our profit targets will be 7698 and...
The euro is down sharply on Tuesday. In the European session, EUR/USD is trading at 1.0969, down 0.62%. The euro hasn't posted a gain since Wednesday.
The US dollar has hit a rough patch on market expectations that the Federal Reserve will cut rates up to six times this year and that the current rate-tightening cycle is over. The euro has pummelled the US dollar...
Gold - 24h expiry
Price action continues to trade around the all-time highs.
Trading volume is increasing.
The overnight dip has been bought into and there is scope for further bullish pressure going into this morning.
20 4hour EMA is at 2068.3.
Preferred trade is to buy on dips.
There is no clear indication that the upward move is coming to an end.
We...
US100 - Intraday
We are trading at overbought extremes.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
A lower correction is expected.
The sequence for trading is higher highs and lows.
We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
We look to Buy at...
