The British pound is showing limited movement on Wednesday. GBP/USD is trading at 1.2582 in the North American session, down 0.10%.
The UK Construction PMI ticked lower to 45.5 in November, compared to 45.6 in October and shy of the consensus estimate of 46.3. The construction sector has been in contraction for most of the year and the November print marked a...
EURCHF - 24h expiry
Buying posted close to the previous low of 0.9417.
Bullish divergence is expected to support prices.
Early pessimism is likely to lead to losses although extended attempts lower are expected to fail.
We look for a temporary move higher.
We look to buy dips.
We look to Buy at 0.9420 (stop at 0.9396)
Our profit targets will be 0.9480...
The euro has extended its losses on Tuesday. In the North American session, EUR/USD is trading at 1.0792, down 0.41%. The euro has fallen for a fifth straight day, declining 1.9% during that time.
Germany and eurozone services PMIs were revised upwards in November but that wasn't enough to stem the euro's nasty slide. The German PMI was revised sharply to 49.6,...
XAUUSD - 24h expiry
Price action resulted in a new all-time high at 2145.
Selling pressure from 2145 resulted in all the initial daily gains being overturned.
Posted a Bearish Outside candle on the Daily chart.
Bespoke support is located at 2016.
Previous resistance, now becomes support at 2010.
There is scope for mild upward pressure at the open but we look...
GBPNZD - 24h expiry
Price action has continued to trend strongly lower and has stalled at the previous support near 2.0430.
Price action looks to be forming a bottom.
Momentum is flat, highlighting the lack of clear direction.
Risk/Reward would be poor to call a buy from current levels.
A move through 2.0500 will confirm the bullish momentum.
We look to Buy...
The Australian dollar has started the week in negative territory. In the European session, AUD/USD is trading at 0.6648, down 0.40%. The Australian dollar is coming off a strong week, with gains of 1.38%.
The Reserve Bank of Australia is expected to hold rates at 4.35% at its Tuesday rate meeting. The central bank has paused for four straight months and the...
UK100GB - 24h expiry
A lower correction is expected.
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.
A move through 7525 will confirm the bullish momentum.
The measured move target is 7575.
We look to Buy at 7500 (stop at 7460)
Our profit targets will be 7600 and 7620...
NAS100USD - Intraday
An Evening Doji Star formation has been posted at the high.
A Fibonacci confluence area is located at 16029.
Bespoke support is located at 15315.
Selling spikes offers good risk/reward.
There is scope for mild buying at the open but gains should be limited.
We look to Sell at 16029 (stop at 16129)
Our profit targets will be 15779 and...
The Canadian dollar continues to gain ground against a slumping US dollar. In the European session, USD/CAD is trading at 1.3529, down 0.23%.
The Canadian currency is poised to post a third straight winning week against the greenback and soared 2.25% in November. It is a busy Friday, with Canada releasing the employment report, the US publishing the ISM...
XAUUSD - Intraday
Broke the sequence of 5 positive daily performances.
Buying posted in Asia.
Price action has continued to range within a triangle formation.
The trend of lower highs is located at 2045.
Bespoke support is located at 2007.
Selling spikes offers good risk/reward.
We look to Sell at 2046 (stop at 2055)
Our profit targets will be 2021 and...
NZDUSD - 24h expiry
The correction lower is assessed as being complete. We expect a reversal in this move. Risk/Reward would be poor to call a buy from current levels. A move through 0.6175 will confirm the bullish momentum. The measured move target is 0.6225.
We look to Buy at 0.6125 (stop at 0.6097)
Our profit targets will be 0.6195 and 0.6215
Resistance:...
GBPCHF - 24h expiry
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
Short term bias is mildly bullish.
Price action looks to be forming a bottom.
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...
The euro is in negative territory in Thursday trade. In the European session, EUR/USD is trading at 1.0940, down 0.27%.
Germany's inflation rate declined sharply in November and the eurozone is up next, with the November inflation report later today. German inflation dropped to 3.2% y/y in November, down from 3.8% in October and below expectations. This was the...
NZDJPY - 24h expiry
There is no clear indication that the upward move is coming to an end.
A lower correction is expected.
Risk/Reward would be poor to call a buy from current levels.
A move through 90.75 will confirm the bullish momentum.
The measured move target is 91.50.
We look to Buy at 90.50 (stop at 90.18)
Our profit targets will be 91.30 and 91.50...
The euro is showing limited movement on Wednesday. In the North American session, EUR/USD is trading at 1.0984, down 0.11%.
Gerrmany's inflation rate dropped more than expected, coming in at 3.2% y/y in November. This was down considerably from 3.8% in October and below the market consensus of 3.5%. This was the lowest inflation rate since June 2021 and was...
US500 - 24h expiry
The rally was sold and the dip bought resulting in mild net gains yesterday.
An overnight positive theme in Equities has led to a higher open this morning.
Previous resistance located at 4610.
Dips continue to attract buyers.
Previous resistance at 4560 now becomes support.
We look to Buy at 4560 (stop at 4540)
Our profit targets will be...
NIK225 - 24h expiry
We are trading at oversold extremes.
Short term bias is mildly bullish.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
Previous support located at 33100.
Further upside is expected although we prefer to buy into dips close to the 33165 level.
We look to Buy...
The New Zealand dollar posted slight gains earlier on Tuesday but has recovered. In the European session, NZD/USD is trading at 0.6101, up 0.07%.
The Reserve Bank of New Zealand meets on Wednesday and is likely to maintain the cash rate at 5.5% for a fourth straight time. The central bank's stance appears to be one of "higher for longer", which will provide...
