AUDJPY - 24h expiry
Indecisive price action has resulted in sideways congestion on the intraday chart.
Dips continue to attract buyers.
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 95.25.
We look to Buy at 94.00 (stop at 93.50)
Our profit targets will be...
HS50 - 24h expiry
Previous support level of 18860 broken.
Short term bias has turned negative.
We are trading at oversold extremes.
A higher correction is expected.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
We look to Sell at 19025 (stop at 19185)
Our profit targets will be 18570 and 18015...
The Australian dollar started the week by dropping 50 basis points but has recovered most of these losses. In the European session, AUD/USD is trading at 0.6488, down 0.12%.
It has been a rough ride lately for the Australian dollar. The currency fell 1.17% against the US dollar last week and has plunged 3.39% in the month of August.
Australia's inflation rate...
The British pound is quiet at the start of the week. In the European session, GBP/USD is trading at 1.2701, up 0.05%.
The UK releases key employment numbers on Tuesday and the data is expected to show that the UK labour market remains tight. The economy is expected to have created 50,000 jobs in the three months to June. That number is down from 125,000...
EURCHF - 24h expiry
The primary trend remains bearish.
Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end.
Rallies should be capped by yesterday's high.
The bearish engulfing candle on the 4 hour chart is negative for sentiment.
We look for a temporary move higher.
We look to Sell...
USDCHF - Intraday
Our short-term bias remains positive.
There is no clear indication that the upward move is coming to an end.
We are trading at oversold extremes.
We look to buy dips.
Bespoke support is located at 0.8700.
We look to Buy at 0.8711 (stop at 0.8675)
Our profit targets will be 0.8801 and 0.8821
Resistance: 0.8775 / 0.8800 /...
AUDUSD - Intraday
Our short-term bias remains negative.
Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end.
The bearish engulfing candle on the 4-hour chart is negative for sentiment.
Price action has posted a Doji candle and is neutral for the short-term sentiment.
We look for a...
The British pound showed some strength earlier on Thursday but reversed directions and lost ground after the US inflation report. In the North American session, GBP/USD is trading at 1.2725, up 0.05%.
The US inflation report was somewhat of a mix, but most important was that both headline and core inflation were within expectations. This meant that the reaction...
NZDJPY - 24h expiry
Price action looks to be forming a bottom.
We expect a reversal in this move.
Previous resistance, now becomes support at 87.25.
Further upside is expected.
A move through 87.75 will confirm the bullish momentum.
We look to Buy at 87.00 (stop at 86.60)
Our profit targets will be 88.00 and 88.25
Resistance: 87.75 / 88.00 /...
GER40 - 24h expiry
A break of bespoke resistance at 16000, and the move higher is already underway.
Trading close to the psychological 16000 level.
16000 has been pivotal.
Prices have reacted from 15704.
Daily signals are bullish.
The bias is to break to the upside.
We look to Buy a break of 16013 (stop at 15913)
Our profit targets will be 16263 and...
NZDJPY - 24h expiry
Price action has stalled at good support levels and currently trades just above here (86.35).
Price action looks to be forming a bottom.
Risk/Reward would be poor to call a buy from current levels.
Dips continue to attract buyers.
A move through 87.25 will confirm the bullish momentum.
We look to Buy at 86.40 (stop at 85.90)
Our profit...
The New Zealand dollar is showing limited movement on Wednesday, trading at 0.6060 in the European session.
Like most major central banks, the Reserve Bank of New Zealand has been waging a long and tough battle against inflation by raising interest rates. CPI fell to 6.0% in the second quarter, down from 6.7%. That's certainly good news, but let's remember that...
FRA40 - 24h expiry
The move higher is mixed and volatile, common in corrective sequences.
We expect a reversal in this move.
Risk/Reward would be poor to call a sell from current levels.
A move through 7300 will confirm the bearish momentum.
The measured move target is 7200.
We look to Sell at 7350 (stop at 7390)
Our profit targets will be 7250 and 7200...
EURAUD - 24h expiry
Broken out of the triangle formation to the upside.
Further upside is expected.
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 1.6850 will confirm the bullish momentum.
We look to...
The New Zealand dollar has declined by 1% on Tuesday. In the North American session, NZD/USD is trading at 0.6044, down 1.01%. Earlier, NZD/USD touched a low of 0.6034, its lowest level since June 8th.
China's post-Covid recovery has not gone according to plan, as weak global demand and soft domestic demand have weighed on economic activity. This message was...
Palladium - 24h expiry
Support is located at 1220 and should stem dips to this area.
We are trading at oversold extremes.
We look to buy dips.
1220 continues to hold back the bears.
Expect trading to remain mixed and volatile.
´
We look to Buy at 1222.6 (stop at 1206.6)
Our profit targets will be 1262.6 and 1272.6
Resistance: 1269 / 1280 / 1300
Support:...
NZDUSD - 24h expiry
Price action has continued to trend strongly lower and has stalled at the previous support near 0.6060.
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 0.6125 will confirm the bullish momentum.
We look to Buy at 0.6075 (stop at...
The Japanese yen has started the week in negative territory. In the European session, USD/JPY is trading at 142.36, up 0.42%.
Inflation continues to be a key issue for the Bank of Japan, although it is much lower than in other major economies, at around 3%. Still, inflation is above the Bank's 2% target and this continues to raise speculation that the BoJ will...
