EURAUD - 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 1.6825 will confirm the bullish momentum.
Short term RSI is...
DE30EUR - 24h expiry
We are trading at oversold extremes.
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
Bullish divergence can be seen on the daily (the chart makes a lower low while the oscillator makes a higher low), often a signal of exhausted bearish momentum, or at least a correction higher.
A Doji...
US100 - Intraday
Levels close to the 61.8% pullback level of 15365 found sellers.
There is no clear indication that the downward move is coming to an end.
A Fibonacci confluence area is located at 14546.
Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 14955, resulting in improved risk/reward.
The medium-term...
DE30EUR - 24h expiry
Our short-term bias remains negative.
There is no clear indication that the downward move is coming to an end.
15100 has been pivotal.
Bespoke resistance is located at 15100.
The preferred trade is to sell into rallies.
20 4-hour EMA is at 15080.
We look to Sell at 15098 (stop at 15198)
Our profit targets will be 14848 and 14788...
NZDUSD - 24h expiry
We have a 38.2% Fibonacci pullback level of 0.5907 from 0.6055 to 0.5815.
The primary trend remains bearish.
Preferred trade is to sell into rallies.
Prices have reacted from 0.5815.
We look for a temporary move higher.
50 4hour EMA is at 0.5913.
We look to Sell at 0.5907 (stop at 0.5933)
Our profit targets will be 0.5842 and 0.5822...
UK100 - 24h expiry
Short-term bias has turned negative.
Our bespoke support of 7600 has been clearly broken.
Previous support at 7610 now becomes resistance.
Short-term momentum is bearish.
Posted a Double Top formation.
50 4-hour EMA is at 7608.
We look to Sell at 7609 (stop at 7659)
Our profit targets will be 7484 and 7454
Resistance: 7590 / 7610 /...
HS50 - 24h expiry
Previous support level of 17587 broken.
Short term bias has turned negative.
The hourly chart technicals suggests further upside before the downtrend returns.
The 200 day moving average should provide resistance at 17845.
Preferred trade is to sell into rallies.
We look to Sell at 17800 (stop at 17960)
Our profit targets will be 17400...
GBPJPY - 24h expiry
Buying pressure from 181.01 resulted in prices rejecting the dip.
The current move higher is expected to continue.
Previous resistance located at 182.80.
Short term bias is mildly bullish.
Further upside is expected, however, due to the strong resistance above we prefer to buy a break of 182.80, which will confirm the bullish sentiment....
NZDUSD - 24h expiry
The selloff is close to a correction count on the intraday chart.
We expect a reversal in this move.
Bullish divergence can be seen on the 4 hour chart (the chart makes a lower low while the oscillator makes a higher low), often a signal of exhausted bearish momentum, or at least a correction higher.
Risk/Reward would be poor to call a buy...
EURUSD - 24h expiry
A Fibonacci confluence area is located at 1.0492.
Continued upward momentum from 1.0495 resulted in the pair posting net daily gains yesterday.
Although the anticipated move higher is corrective, it does offer ample risk/reward today.
The medium term bias remains bearish.
Further upside is expected and we look to set longs in early trade....
HS50 - 24h expiry
Price action looks to be forming a bottom.
We are trading at oversold extremes.
A Doji style candle has been posted from the base.
Indecisive price action has resulted in sideways congestion on the intraday chart.
Preferred trade is to buy on dips.
We look to Buy at 17630 (stop at 17430)
Our profit targets will be 18130 and 18230...
FRA40 - 24h expiry
Price action looks to be forming a bottom.
We expect a reversal in this move.
A move through 7025 will confirm the bullish momentum.
Short term RSI has turned positive.
The measured move target is 7050.
We look to Buy at 6950 (stop at 6890)
Our profit targets will be 7100 and 7140
Resistance: 7025 / 7050 / 7075
Support: 6975 / 6950 /...
US100 - Intraday
Trading within a Bullish Channel formation.
Trend line support is located at 15072.
Bespoke support is located at 15030.
The 261.8% Fibonacci extension is located at 15425 from 14455 to 14827.
Trend line resistance is located at 15575.
We look to Buy at 15040 (stop at 14940)
Our profit targets will be 15290 and 15390
Resistance: 15348 /...
AUDJPY - 24h expiry
A lower correction is expected.
We expect a reversal in this move.
Risk/Reward would be poor to call a buy from current levels.
A move through 94.75 will confirm the bullish momentum.
The measured move target is 95.50.
We look to Buy at 94.00 (stop at 93.60)
Our profit targets will be 95.00 and 95.50
Resistance: 94.75 / 95.00 /...
EURAUD - 24h expiry
Broken out of the channel formation to the upside.
Indecisive price action has resulted in sideways congestion on the intraday chart.
Further upside is expected.
Short term RSI is moving higher.
A move through 1.6625 will confirm the bullish momentum.
We look to Buy at 1.6550 (stop at 1.6490)
Our profit targets will be 1.6700 and...
USDCAD - 24h expiry
We expect a reversal in this move.
Price action has continued to trend strongly lower and has stalled at the previous support near 1.3550.
Risk/Reward would be poor to call a buy from current levels.
Momentum is flat, highlighting the lack of clear direction.
A move through 1.3600 will confirm the bullish momentum.
We look to Buy at...
CN50USD - 24h expiry
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
A higher correction is expected.
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...
AUDUSD - 24h expiry
We are trading at overbought extremes.
Indecisive price action has resulted in sideways congestion on the intraday chart.
Preferred trade is to sell into rallies.
The hourly chart technicals suggests further upside before the downtrend returns.
Further downside is expected although we prefer to sell into rallies close to the 0.6500 level....
