GER40 - 24h expiry
Price action resulted in a new all-time high at 17817.
There is no clear indication that the upward move is coming to an end.
Price action continues to trade around the all-time highs.
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
We look to buy dips.
20 4hour...
EURJPY - Intraday
Buying pressure from 161.68 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.
Although the anticipated move lower is corrective, it does offer ample risk/reward today....
The euro is calm on Friday. In the European session, EUR/USD is trading at 1.0818, up 0.13%.
Inflation continues its downward trend in the eurozone. On Thursday, Germany and France saw inflation fall in February. The eurozone followed suit on Friday, as headline inflation dropped to 2.6% y/y in February, down from 2.8% in January.
This was the lowest rate in...
NIK225 - 24h expiry
We are trading at overbought extremes.
A lower correction is expected.
The bias is still for higher levels and we look for any dips to be limited.
We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
Further upside is expected although we prefer to buy into dips close to the 38910 level.
We...
The euro is in negative territory on Thursday. In the North American session, EUR/USD is trading at 1.0800, down 0.35%.
Germany’s inflation rate dropped to 2.5% y/y in February, down from 2.9% in January and lower than the market estimate of 2.6%. This was the lowest level since June 2021, as inflation continues to move closer to the European Central Bank’s...
GBPUSD - 24h expiry
The primary trend remains bullish.
The selloff has posted a correction count on the daily chart.
A move lower faces tough support and we remain cautious on downside potential.
Risk/Reward would be poor to call a buy from current levels.
Setbacks should be limited to yesterday's low.
We look to Buy at 1.2640 (stop at 1.2604
Our profit...
The Australian dollar took a hit after Australian inflation was lower than expected. In the North American session, AUD/USD is trading at 0.6493, down 0.78%.
Australia’s inflation rate remained steady in January at 3.4% y/y, unchanged from December and below the market estimate of 3.6%. This matched the lowest rate of annual inflation since November 2021. The...
UK100GBP - 24h expiry
Short term bias is mildly bullish.
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
A lower correction is expected.
We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
Further upside is expected although we prefer to buy into dips close to...
The New Zealand dollar is trading quietly on Tuesday. In the European session, NZD/USD is trading at 0.6165, down 0.12%.
All eyes are on the Reserve Bank of New Zealand, which will set the cash rate on Wednesday. The central bank is expected to hold rates at 5.50% for a sixth straight time. Most of the major central banks are looking to lower interest rates but...
USDCHF - 24h expiry
Levels close to the 50% pullback level of 0.8789 found buyers.
Prices have reacted from 0.8742.
The bullish engulfing candle on the 4 hour chart the positive for sentiment.
We look to buy dips.
Our outlook is bullish.
We look to Buy at 0.8790 (stop at 0.8762)
Our profit targets will be 0.8860 and 0.8875
Resistance: 0.8821 / 0.8838 /...
NZDJPY - 24h expiry
Price action looks to be forming a top.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. We are trading at overbought extremes.
Bearish divergence can be seen on the 4 hour chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish...
The Canadian dollar is drifting on Friday. In the European session, USD/CAD is trading at 1.3468, down 0.1%. With no tier-1 events on the data calendar, we can expect a quiet day for the Canadian dollar.
Canada’s retail sales report on Friday was a mixed bag. Consumers sharply reduced their spending in January following better-than-expected retail sales in...
EURNZD - Intraday
Our bespoke support of 1.7511 has been clearly broken.
Previous support at 1.7520 now becomes resistance.
Our short term bias remains negative.
20 4hour EMA is at 1.7493.
Our outlook is bearish.
We look to Sell at 1.7495 (stop at 1.7547)
Our profit targets will be 1.7365 and 1.7335
Resistance: 1.7485 / 1.7530 / 1.7570
Support: 1.7440 /...
ASX200 - 24h expiry
Pivot resistance is at 7680.
We expect a reversal in this move.
Risk/Reward would be poor to call a sell from current levels.
A move through 7625 will confirm the bearish momentum.
The measured move target is 7550.
We look to Sell at 7650 (stop at 7686)
Our profit targets will be 7560 and 7540
Resistance: 7650 / 7675 / 7700
Support:...
The New Zealand dollar continues to gain ground and has extended its gains for a seventh straight day. In the North American session, NZD/USD is trading at 0.6187, up 0.12%. The New Zealand dollar last had a losing daily session on February 13 and has jumped 2.1% since then.
New Zealand consumer spending has been weak and more bad news is expected on Friday, when...
The Canadian dollar is trading quietly on Wednesday. In the North American session, USD/CAD is trading at 1.3517, down 0.07%.
Investors are anxiously awaiting the release of the minutes of the Fed’s January meeting later today, hoping for some insights about the Fed’s future interest rate path. The markets had priced in a March cut after the Fed signaled in...
GBPCHF - 24h expiry
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
A lower correction is expected.
The bias is still for higher levels and we look for any dips to be limited.
The 200 day moving average should provide support at 1.1098.
Preferred trade is to buy on dips.
We look to Buy at 1.1100 (stop at...
The British pound is higher on Tuesday. In the North American session, GBP/USD is trading at 1.2650, up 0.43%.
With little else on the calendar today, Bank of England Governor Andrew Bailey is front and center. Bailey testified earlier before Parliament’s Treasury Committee and was surprisingly open about possible rate cuts later this year. Bailey did not push...
