The New Zealand dollar continues to gain ground and has extended its gains for a fourth straight day. In the North American session, NZD/USD is trading at 0.6149, up 0.44%.
New Zealand’s BusinessNZ Performance of Services Index improved to 52.1 in January from 48.8 in December, above the forecast of 49.6. This put the index in expansion territory and marked the...
AUDJPY - Intraday
There is no clear indication that the upward move is coming to an end.
Trend line support is located at 97.70.
Risk/Reward would be poor to call a buy from current levels.
A move through 98.00 will confirm the bullish momentum.
The measured move target is 98.50.
We look to Buy at 97.70 (stop at 97.45)
Our profit targets will be 98.35 and...
The British pound has edged lower on Friday. In the European session, GBP/USD is trading at 1.2578, down 0.17%.
UK retail sales were more than impressive, surging 3.4% m/m in January. This crushed the market estimate of 1.5% and followed a 3.3% decline in December. The reading was the largest monthly gain since April 2021. The sharp gain was driven by increased...
NZDUSD - 24h expiry
Indecisive price action has resulted in sideways congestion on the daily chart.
Pivot resistance is at 0.6140.
We expect a reversal in this move.
A move through 0.6100 will confirm the bearish momentum.
The measured move target is 0.6050.
We look to Sell at 0.6140 (stop at 0.6166)
Our profit targets will be 0.6075 and 0.6060...
The Japanese yen has improved on Thursday, despite a disappointing GDP report. In the North American session, USD/JPY is trading at 150.12, down 0.31%. USD/JPY fell as much as 0.70% today but has recovered much of those losses.
Japan’s fourth-quarter GDP was a disappointment, declining 0.1% q/q. This missed the market estimate of a 0.3% gains and followed a...
EURUSD - 24h expiry
The medium term bias remains bearish.
Buying pressure from 1.0695 resulted in all the initial daily selloffs being recaptured.
Buying posted in Asia.
There is scope for mild buying at the open but gains should be limited.
Expect trading to remain mixed and volatile.
We look to Sell at 1.0755 (stop at 1.0780)
Our profit targets will be...
NZDJPY - 24h expiry
Trading within a Bullish Channel formation.
Dips continue to attract buyers.
The hourly chart technicals suggests further downside before the uptrend returns.
A lower correction is expected.
Bespoke support is located at 91.30.
We look to Buy at 91.30 (stop at 91.00)
Our profit targets will be 92.05 and 92.25
Resistance: 91.90 / 92.20...
The Australian dollar is in positive territory on Wednesday. In the North American session, AUD/USD is trading at 0.6488, up 0.54%. The Australian currency slid 1.18% on Tuesday, following the stronger-than-expected US inflation report.
The Australian dollar suffered its worst one-day performance on Monday since October 2023, sinking 1.16%. This was due to the US...
NIK225 - 24h expiry
Short term bias is bullish.
Levels close to the 50% pullback level of 37636 found buyers.
Preferred trade is to buy on dips.
The trend of higher lows is located at 37190.
Further upside is expected although we prefer to buy into dips close to the 37640 level.
We look to Buy at 37570 (stop at 37290)
Our profit targets will be 38270 and...
It has been a hectic day for the British pound, after key releases on both sides of the pond. In Tuesday’s North American session, GBP/USD is trading at 1.2594, down 0.26%. The pound edged higher after the UK employment report but dropped sharply after US inflation was higher than expected.
The UK employment report indicated that the labour market is cooling but...
AUDUSD - 24h expiry
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
The selloff has posted a correction count on the daily chart.
Risk/reward is ample to call a buy trade.
Price action looks to be forming a bottom.
Bullish divergence can be seen on the 4 hour chart (the chart makes a lower low while the...
NZDUSD - 24h expiry
Indecisive price action has resulted in sideways congestion on the intraday chart.
Pivot resistance is at 0.6150.
We expect a reversal in this move.
Risk/Reward would be poor to call a sell from current levels.
A move through 0.6120 will confirm the bearish momentum.
We look to Sell at 0.6150 (stop at 0.6180)
Our profit targets will be...
The British pound is showing limited movement at the start of the week. In Monday's North American session, GBP/USD is unchanged at 1.2629.
Bank of England Governor Andrew Bailey will speak at a public event later today and the markets will be listening carefully, looking for hints about the BoE's future rate path. The BOE kept rates unchanged at 5.25% for a...
GER40 - 24h expiry - We look to Buy at 16920 (stop at 16840)
The primary trend remains bullish.
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
Price action resulted in a new all-time high at 17066.
Mixed but positive price action has resulted in consecutive, narrow-ranged, sideways...
The Canadian dollar has climbed higher in the North American session after the release of Canada's December employment report. In the North American session, USD/CAD is trading at 1.3432, down 0.20%.
Canada usually posts employment reports on the same Friday as the US, but had the stage all to itself today, as the US posted its job report last week. The news was...
AUDUSD - Intraday
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
The selloff has posted a correction count on the daily chart.
We are trading at oversold extremes.
Preferred trade is to buy on dips.
We look to Buy at 0.6480.
We look to Buy at 0.6480 (stop at 0.6456)
Our profit targets will be 0.6540...
EURNZD - 24h expiry
Broken out of the channel formation to the downside.
With resistance seen at 1.7690 and Marabuzo resistance at 1.7680, there is scope for selling rallies.
Preferred trade is to sell into rallies.
Short term MACD has turned negative.
50 4hour EMA is at 1.7692.
We look to Sell at 1.7685 (stop at 1.7735)
Our profit targets will be 1.7565...
CHN50 - 24h expiry
The bearish engulfing candle on the 4 hour chart is negative for sentiment.
The primary trend remains bearish.
Short term momentum is bearish.
We look for losses to be extended today.
A break of the recent low at 11356 should result in a further move lower.
We look to Sell a break of 11345 (stop at 11465)
Our profit targets will be 11045...
