GER40 - 24h expiry
Short term bias has turned positive.
Although we remain bullish overall, a correction is possible with plenty of room to move lower without impacting the trend higher.
We look to buy dips.
Bespoke support is located at 15700.
The lack of interest is a concern for bears.
We look to Buy at 15711 (stop at 15611)
Our profit targets will be...
The euro has posted limited gains at the start of the trading week. In the North American session, EUR/USD is trading at 1.0803, up 0.08%.
The week ended on a sour note as German Ifo Business Climate fell for a fourth straight month in August to 85.7, down from an upwardly revised 87.4 and shy of the market consensus of 86.7. Germany's GDP flatlined in the second...
NIK225 - 24h expiry
Short term momentum is bullish.
There is no indication that the rally is coming to an end.
32240 has been pivotal.
A break of the recent high at 32240 should result in a further move higher.
The primary trend remains bullish.
We look to Buy a break of 32266 (stop at 32086)
Our profit targets will be 32716 and 32816
Resistance: 32240...
US500 - 24h expiry
The medium-term bias remains bullish.
A Fibonacci confluence area is located at 4577.
Dip buying offers good risk/reward.
There is scope for mild selling at the open but losses should be limited.
Bespoke support is located at 4380.
We look to Buy at 4380 (stop at 4344)
Our profit targets will be 4470 and 4490
Resistance: 4476 / 4541...
USDCHF - 24h expiry
Trading within a Corrective Channel formation.
A higher correction is expected.
Short term momentum is bearish.
Prices expected to stall near trend line support.
Trend line support is located at 0.8780.
We look to Buy at 0.8784 (stop at 0.8754)
Our profit targets will be 0.8854 and 0.8874
Resistance: 0.8840 / 0.8860 / 0.8876
Support:...
US500 - Intraday
A Morning Doji Star formation has been posted at the low.
Posted a Bearish Outside candle on the Daily chart.
The conflicting views have resulted in the immediate outlook being hard to interpret.
Economic figures could adversley affect the short term technical picture.
A Fibonacci confluence area is located at 4563.
A break of 4420 is...
USD/JPY has posted small gains on Friday, enough to push above the symbolic 146 line. On the data calendar, Tokyo Core CPI dipped lower and Fed Chair Powell addresses the Jackson Hole Symposium later today.
Japan released the Tokyo Core CPI earlier today. This is the first inflation release of the month, making it a key event. In August, Tokyo Core CPI rose 2.8%...
AUDUSD - Intraday
Our short term bias remains negative.
There is no clear indication that the downward move is coming to an end.
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.
Bespoke resistance is located at 0.6440.
50 4hour EMA is at...
ASX200 - 24h expiry
Price action looks to be forming a top.
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 7165 level.
We look to Sell at 7165 (stop at 7195)...
The euro has edged lower on Thursday. In the European session, EUR/USD is trading at 1.0851, down 0.11%.
On the data calendar, there are no releases from the eurozone. The US releases unemployment claims and durable goods orders and we could see some movement from EUR/USD in the North American session. On Friday, Germany releases Ifo Business Climate. The index...
GBPUSD - 24h expiry
Buying pressure from 1.2614 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.
Previous resistance located at 1.2800.
Preferred trade is to sell into rallies.
We look to Sell at 1.2789 (stop at 1.2839)
Our profit...
GBPAUD - 24h expiry
Trend line support is located at 1.9640.
There is no clear indication that the upward move is coming to an end.
We expect a reversal in this move.
Risk/Reward would be poor to call a buy from current levels.
A move through 1.9700 will confirm the bullish momentum.
We look to buy at 1.9650 with stop at 1.9590
Our profit targets will be...
The British pound has edged lower on Wednesday. In the North American session, GBP/USD is trading at 1.2720, down 0.09%.
The UK economy continues to cool down, and today's PMI readings showed deceleration in both the manufacturing and services sectors. The Manufacturing PMI eased to 42.5 in August, down from 45.3 and below the consensus estimate of 42.5. The...
GER40 - 24h expiry
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
The primary trend remains bullish.
Price action continues to trade around significant highs.
A move through bespoke resistance at 15800 and we look for extended gains.
A Doji style candle has been posted from the base.
We look to Buy a...
NZDJPY - 24h expiry
Price action has continued to trend strongly lower and has stalled at the previous support near 86.00.
The RSI is trending higher.
Dips continue to attract buyers.
Risk/Reward would be poor to call a buy from current levels.
A move through 86.75 will confirm the bullish momentum.
We look to Buy at 86.00 (stop at 85.50)
Our profit...
The New Zealand dollar has posted strong gains on Tuesday. In the European session, NZD/USD is trading at 0.5959, up 0.55%. On the data calendar, New Zealand retail sales are expected to decline by 2.6% q/q in the second quarter, compared to -1.4% in Q1.
The New Zealand dollar has gone on a dreadful slide since mid-July, falling as much as 500 basis points during...
GBPUSD - 24h expiry
We are trading at overbought extremes.
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 200 day moving average should provide resistance at 1.2829.
Preferred trade is to sell into rallies.
We look to Sell at...
NZDUSD - 24h expiry
Trading within a Bearish Channel formation.
We look for price action to stay within the channel formation today.
Our expectation now is for this swing higher to continue towards the top of the trend channel, to complete a correction before sellers return.
Risk/Reward would be poor to call a sell from current levels.
A move through 0.5900...
