The euro is calm in Friday trade. In the European session, EUR/USD is trading at 1.1053, down 0.08%.
Spain released the December inflation report today, with CPI dipping to 3.1% y/y, down from 3.2% in November. This was better than expected as the consensus estimate stood at 3.4%. The reading was the lowest rate since August, with the drop attributed to lower...
EURAUD - 24h expiry
Price action has continued to trend strongly lower and has stalled at the previous support near 1.6150.
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 1.6225 will confirm the bullish momentum.
We look to Buy at 1.6190 (stop at 1.6154)...
The euro has posted strong gains on Wednesday. In the North American session, EUR/USD is trading at 1.1121, up 0.72%.
The US dollar is under pressure this week as we're seeing a risk-on mood in global markets. The week between Christmas and New Year's is normally quiet, with a very light data calendar. However, investors are anticipating the Federal Reserve to...
UK100 - 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 7760 will confirm the bullish momentum.
The measured move target...
CHN50 - 24h expiry
Buying pressure from 11103 resulted in prices rejecting the dip.
The current move higher is expected to continue.
The bias is still for lower levels and we look for any gains to be limited.
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...
The Japanese yen continues to have a quiet week. In the European session, USD/JPY is trading at 142.54, up 0.12%.
The Bank of Japan's summary of opinions from the December meeting was released earlier today. That meeting was somewhat of a disappointment to the markets, as there were expectations of a move after senior BoJ members hinted prior to the meeting that...
WTICOUSD - 24h expiry
Previous resistance level of 75.34 broken.
Intraday, and we are between bespoke support and resistance 73.51-77.10.
The sequence for trading is higher highs and lows.
There is scope for mild selling at the open but losses should be limited.
The medium term bias remains bullish.
We look to Buy at 75.00 (stop at 74.20)
Our profit...
The Japanese yen is showing little movement on Tuesday. In the European session, USD/JPY is trading at 142.39, down 0.04%.
Japanese inflation indicators have been heading lower. Last week, Core CPI, which excludes fresh food but includes fuel costs, dropped in November from 2.9% to 2.5%. On Tuesday, the Bank of Japan's Core CPI index followed suit and declined to...
The British pound is drifting on Friday. In the European session, GBP/USD is trading at 1.2701, up 0.08%.
UK retail sales jumped 1.3% in November m/m, bouncing back from 0% in October and beating the consensus estimate of 0.4%. This was the sharpest pace of growth since January and the increase was felt in all sub-sectors. Yearly, retail sales edged up 0.1%,...
USDCHF - Intraday
Yesterday's Marabuzo is located at 0.8594.
There is no clear indication that the downward move is coming to an end.
The lack of interest is a concern for bulls.
We are trading at oversold extremes.
We look for a temporary move higher.
We look to Sell at 0.8594 (stop at 0.8620)
Our profit targets will be 0.8529 and 0.8514
Resistance:...
NZDUSD - 24h expiry
There is no clear indication that the upward move is coming to an end.
Risk/Reward would be poor to call a buy from current levels.
Short term RSI is moving higher.
A move through 0.6300 will confirm the bullish momentum.
The measured move target is 0.6350.
We look to Buy at 0.6250 (stop at 0.6226)
Our profit targets will be 0.6310 and...
The Japanese yen is in positive territory on Thursday. In the European session, USD/JPY is trading at 142.85, down 0.61%. Later today, the US releases third-estimate GDP for the third quarter, which is expected to confirm that the economy grew at an impressive rate of 5.2% q/q.
Japan's Core CPI, which excludes fresh food but includes energy, is considered the...
GBPJPY - 24h expiry
A Doji style candle has been posted from the base.
Price action looks to be forming a bottom.
We are trading at overbought extremes.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
Further upside is expected although we prefer to buy into dips close to the...
The Canadian dollar is showing little movement on Tuesday. In the European session, USD/CAD is trading at 1.3382, down 0.13%. We could see stronger movement from the Canadian dollar in the North American session, with the release of the Canadian inflation report.
Canada releases the November inflation report later on Tuesday. In October, inflation dropped to 3.1%...
Brent - 24 expiry
The rally was sold and the dip bought resulting in mild net gains yesterday.
Intraday, and we are between bespoke support and resistance 73.72-81.78.
Immediate signals are hard to interpret.
Previous resistance, now becomes support at 77.40.
There is no clear indication that the upward move is coming to an end.
We look to Buy at 77.40...
NZDUSD - 24h expiry
Indecisive price action has resulted in sideways congestion on the intraday chart.
Momentum is flat, highlighting the lack of clear direction.
Risk/Reward would be poor to call a buy from current levels.
A move through 0.6225 will confirm the bullish momentum.
The measured move target is 0.6280.
We look to Buy at 0.6200 (stop at...
The Japanese yen is lower at the start of the week. In the European session, USD/JPY is trading at 142.77, up 0.44%.
The yen continues to power higher and surged 1.9% last week. It marked a fifth straight winning week for the yen, which has climbed 6.2% during that time. The yen strengthened to 140.95 on Friday, its highest level since July 31.
Bank of Japan...
GER40 - 24h expiry
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
Current prices have reacted from a low of 16662, however, we expect further losses to follow.
Price action resulted in a new all-time high at 17004.
An Evening Doji Star formation has been posted at the high.
A break of the recent low at...
