NIK225 - 24h expiry
Previous resistance level of 31399 broken.
The current move higher is expected to continue.
We are trading at overbought extremes.
Short term bias has turned positive.
Preferred trade is to buy on dips.
We look to Buy at 31405 (stop at 31145)
Our profit targets will be 32055 and 32185
Resistance: 32170 / 32450 / 32780
Support: 31765 /...
UK100 - 24h expiry
There is no indication that the rally is coming to an end.
Further upside is expected.
Risk/Reward would be poor to call a buy from current levels.
A move through 7550 will confirm the bullish momentum.
The measured move target is 7650.
We look to Buy at 7500 (stop at 7450)
Our profit targets will be 7620 and 7650
Resistance: 7550 /...
NZDJPY - 24h expiry
There is no indication that the rally 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 89.50 will confirm the bullish momentum.
Short term RSI is moving higher....
USDCHF - 24h expiry
Short term bias has turned negative.
The bearish engulfing candle on the 4 hour chart is negative for sentiment.
Preferred trade is to sell into rallies.
We are trading at overbought extremes.
A higher correction is expected.
We look to Sell at 0.9169 (stop at 0.9201)
Our profit targets will be 0.9094 and 0.9074
Resistance: 0.9107 /...
AUDUSD - Intraday
We are trading at overbought extremes.
A Doji style candle has been posted from the high.
This is negative for sentiment and the downtrend has potential to return.
We look for a temporary move higher.
Further downside is expected although we prefer to sell into rallies close to the 0.6370 level.
We look to Sell at 0.6370 (stop at 0.6402)...
EURAUD - 24h expiry
Broken out of the channel formation to the upside.
Further upside is expected.
Risk/Reward would be poor to call a buy from current levels.
A move through 1.6625 will confirm the bullish momentum.
The measured move target is 1.6700.
We look to Buy at 1.6500 (stop at 1.6440)
Our profit targets will be 1.6640 and 1.6670
Resistance:...
FRA40 - 24h expiry
There is no clear indication that the downward move is coming to an end. Further downside is expected.
A higher correction is expected.
Risk/Reward would be poor to call a sell from current levels.
A move through 7000 will confirm the bearish momentum.
We look to Sell at 7100 (stop at 7150)
Our profit targets will be 6975 and 6950...
UK100 - 24h expiry
Price action has continued to trend strongly lower and has stalled at the previous support near 7425.
We expect a reversal in this move.
Risk/Reward would be poor to call a buy from current levels.
A move through 7500 will confirm the bullish momentum.
The measured move target is 7600.
We look to Buy at 7420 (stop at 7360)
Our profit...
NZDJPY - 24h expiry
Price action has continued to trend strongly lower and has stalled at the previous support near 87.50.
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 88.25 will confirm the bullish momentum.
We look to Buy at 87.50 (stop...
EURAUD - Intraday
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. This is negative for sentiment and the downtrend has potential to return. The hourly chart technicals suggests further upside before the downtrend returns. Previous resistance located at 1.6582. Preferred trade is to sell into rallies.
We...
DE30EUR - Intraday
Broken out of the Head and Shoulders formation to the downside. Neckline resistance 15450. The bearish engulfing candle on the daily chart is negative for sentiment. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 15298, resulting in improved risk/reward. News events could adversley affect the...
The euro has moved upwards on Friday. In the European session, EUR/USD is trading at 1.0597, up 0.30%. After falling sharply earlier this week, the euro has rebounded and gained close to 1% since Wednesday.
The eurozone's inflation level dropped to 4.3% y/y in September, a sharp decline from the August reading of 5.2% y/y and below market expectations of 4.5%...
AUDUSD - Intraday
Buying pressure from 0.6331 resulted in prices rejecting the dip.
The current move higher is expected to continue.
Indecisive price action has resulted in sideways congestion on the intraday chart.
Preferred trade is to sell into rallies.
Previous resistance located at 0.6510.
We look to Sell at 0.6510 (stop at 0.6540)
Our profit...
GBPAUD - 24h expiry
Price action looks to be forming a bottom.
Price action has continued to trend strongly lower and has stalled at the previous support near 1.9000.
We expect a reversal in this move.
A move through 1.9100 will confirm the bullish momentum.
Short term RSI is moving higher.
We look to Buy at 1.8985 (stop at 1.8925)
Our profit targets will...
The Japanese yen has stemmed a 3-day slide, in which it declined around 1.5% against the US dollar. In the European session, USD/JPY is trading at 149.31, down 0.23%. In the US, third estimate GDP for the second quarter is expected to be revised lower to 2.1%.
Japan will release Tokyo Core CPI on Friday. The core rate, a key inflation gauge, is expected to ease...
FRA40 - 24h expiry
Price action has continued to trend strongly lower and has stalled at the previous support near 7025.
Price action looks to be forming a bottom.
We expect a reversal in this move.
Risk/Reward would be poor to call a buy from current levels.
A move through 7100 will confirm the bullish momentum.
We look to Buy at 7025 (stop at 6975)
Our...
NZDUSD - 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 0.5950 will confirm the bullish momentum.
The measured move target is 0.6000.
We look to Buy at 0.5900 (stop at 0.5868)
Our profit targets will be 0.5980 and...
The euro has extended its losses on Wednesday and has declined close to 1% this week. In the European session, EUR/USD is trading at 1.0552, down 0.18%.
Germany has traditionally been the powerhouse of Europe but finds itself lagging in the rear, with a struggling economy and high inflation. The GfK Consumer Climate index fell to -26.5 for October, down from a...
