NIK225 - 24h expiry
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
Price action looks to be forming a bottom.
This is positive for sentiment and the uptrend has potential to return.
Weekly pivot is at 33118. Preferred trade is to buy on dips.
We look to Buy at 33181 (stop at 32981)
Our profit targets...
The New Zealand dollar has started the week in positive territory. NZD/USD is trading at 0.5918 in the North American session, up 0.34%.
New Zealand's Services PMI eased to 47.1 in August, down from 47.8 in July. The reading marked a third straight decline in activity and was the lowest level since January 2022. This comes on the heels of Friday's Manufacturing...
GER40 - Intraday - We look to Buy at 15831 (stop at 15731)
Our short term bias remains positive.
There is no clear indication that the upward move is coming to an end.
Previous resistance level of 15830 broken.
Previous resistance at 15830 now becomes support.
20 4hour EMA is at 15830.
Preferred trade is to buy on dips.
Our profit targets will be 16081...
US100 - Intraday
The medium term bias remains bullish.
A Fibonacci confluence area is located at 16292.
There is no sign that this bullish momentum is faltering but the pair has stalled close to a previous swing high of 15629.
The reaction lower is negative, however, we view this as an opportunity to set longs in line with the overall bullish move higher....
The euro has steadied on Friday. In the European session, EUR/USD is trading at 1.0665, up 0.20%.
The European Central Bank's rate decision went right down to the wire on Wednesday. It was unclear whether the central bank would hike or hold, with strong reasons to support each position. In the end, the ECB opted to hike, choosing the fight against inflation over...
EURCHF - Intraday
0.9600 continues to hold back the bulls.
The bearish engulfing candle on the daily chart is negative for sentiment.
The primary trend remains bearish.
Previous resistance located at 0.9570.
Preferred trade is to sell into rallies.
We look to Sell at 0.9568 (stop at 0.9588)
Our profit targets will be 0.9518 and 0.9508
Resistance: 0.9550 /...
GBPAUD - 24h expiry
There is no clear indication that the upward move is coming to an end.
Although we remain bearish overall, a correction is possible without impacting the trend lower.
Risk/Reward would be poor to call a sell from current levels.
A move through 1.9250 will confirm the bearish momentum.
Short term RSI is moving lower.
We look to Sell at...
UK100 - 24h expiry
Price action has stalled at good resistance levels and currently trades just below here (7550).
We expect a reversal in this move.
A move through 7500 will confirm the bearish momentum.
The measured move target is 7350.
Momentum is flat, highlighting the lack of clear direction.
We look to Sell a break of 7500 (stop at 7540)
Our profit...
NZDUSD - 24h expiry
Price action looks to be forming a bottom.
We expect a reversal in this move.
The RSI is trending higher.
A move through 0.5925 will confirm the bullish momentum.
The measured move target is 0.5950.
We look to Buy at 0.5865 (stop at 0.5833)
Our profit targets will be 0.5945 and 0.5970
Resistance: 0.5925 / 0.5950 / 0.5975
Support:...
The Australian dollar is lower on Wednesday. In the European session, AUD/USD is trading at 0.6408, down 0.28%.
The US releases the August inflation report later today. CPI is projected to increase in August to 3.6% y/y, following a 3.2% gain in July. On a monthly basis, the consensus estimate stands at 0.6%, higher than the 0.2% gain in July. Core CPI is...
EURCHF - 24h expiry
The primary trend remains bearish.
0.9601 has been pivotal.
0.9603 has been pivotal.
Although the market broke to the upside in early trade, bespoke resistance at 0.9585 capped the gains.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 0.9600.
We look to Sell at 0.9597 (stop at 0.9617)
Our profit targets will...
HS50 - 24h expiry
Buying pressure from 17822 resulted in prices rejecting the dip.
The current move higher is expected to continue.
With the Ichimoku cloud resistance above we expect 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 sell...
The British pound is in negative territory on Tuesday. In the European session, GBP/USD is trading at 1.2470, down 0.31%.
Will the real UK labour market please stand up? The UK labour market is showing signs of weakening, while at the same time wage growth grew at a record pace, according to today's employment release. The economy shed 207,000 jobs in the three...
EURJPY - 24h expiry
Posted a Bullish Hammer Bottom on the Daily chart.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
The hourly chart technicals suggests further downside before the uptrend returns.
We therefore, prefer to fade into the dip with a tight stop in anticipation of a...
NZDUSD - 24h expiry
Price action looks to be forming a bottom.
The RSI is trending higher.
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 0.6000
Resistance: 0.5950 /...
The British pound has started the week with strong gains. In the North American session, GBP/USD is trading at 1.2537, up 0.61%. The pound has been on a nasty slide, falling as much as 300 basis points since August 31st.
The volatility could continue for the pound on Tuesday, with the release of key employment data. The labour market is showing signs of slowing...
AUDUSD - 24h expiry
A Doji style candle has been posted from the base.
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 sell into...
EURCHF - Intraday
Our short term bias remains negative.
The primary trend remains bearish.
We are trading at oversold extremes.
Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end.
Preferred trade is to sell into rallies.
20 1day EMA is at 0.9566.
We look to Sell at 0.9568 (stop...
