The Australian dollar has started the week with losses. AUD/USD is trading at 0.6848, down 0.39%. The Australian dollar gained 1.95% last week and has soared 5.2% in the month of June.
The Reserve Bank of Australia releases the minutes of the June meeting on Tuesday. At the meeting, the Bank decided to raise rates by 0.25%, bringing the benchmark rate to 4.10%....
EUR/USD is trading at 1.0948 in Europe, almost unchanged on the day. On Thursday, the euro surged 1.05% in the aftermath of the ECB rate hike.
The ECB raised rates by 25 basis points on Thursday, bringing the benchmark rate to 3.50%, the highest level since 2001. The markets were not surprised by the move but ECB President Lagarde's hawkish comments following the...
Palladium - Intraday
The primary trend remains bearish.
Preferred trade is to sell into rallies.
20 1day EMA is at 1397.
Trading has been mixed and volatile.
Daily signals for sentiment are at oversold extremes.
We look to Sell at 1397.8 (stop at 1421.8)
Our profit targets will be 1337.8 and 1327.8
Resistance: 1400 / 1415 / 1430
Support: 1380 / 1360 /...
GER40 - Intraday
Price action continues to trade around the all-time highs.
There is no clear indication that the upward move is coming to an end.
The bullish engulfing candle on the 4 hour chart the positive for sentiment.
The bias is to break to the upside.
The primary trend remains bullish.
We look to Buy a break of 16351 (stop at 16251)
Our profit...
ASX200 - 24h expiry
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
We are trading at overbought extremes.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower.
The hourly chart technicals suggests further upside before the downtrend...
FRA40 - 24h expiry
Previous resistance located at 7350.
Previous support located at 7250.
The trend of higher lows is located at 7100.
Further upside is expected although we prefer to set longs at our bespoke support levels at 7250, resulting in improved risk/reward.
A move through 7350 will confirm the bullish momentum.
We look to Buy at 7250 (stop at 7210)...
The Japanese yen has taken a tumble on Thursday. In the European session, USD/JPY is trading at 141.24, up 0.81%. Earlier today, the yen fell as low as 141.50, its lowest level since November.
The markets had widely expected the Federal Reserve to pause at the Wednesday meeting, especially after a favourable inflation release on Tuesday. Jerome Powell delivered a...
GER40 - 24h expiry
We are trading at overbought extremes.
Price action continues to trade around the all-time highs.
The previous swing high is located at 16333.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
Rallies should be capped by yesterday's high.
Bespoke resistance is located at 16300.
We look...
GBPAUD - 24h expiry
Previous support located at 1.8600.
Previous resistance located at 1.8650.
There is no clear indication that the downward move is coming to an end.
Momentum is flat, highlighting the lack of clear direction.
Risk/Reward would be poor to call a sell from current levels.
We look to Sell at 1.8675 (stop at 1.8735)
Our profit targets will...
The Australian dollar continues to gain ground and is trading at 0.6795, up 0.42%. The Aussie has been red-hot in June, gaining 4.4%.
Australia releases the May employment report early Thursday. The labour market has stayed solid despite aggressive rate hikes from the central bank, but there may be signs of cracks. In April, Australia shed jobs for the first time...
EURCHF - 24h expiry
Our bespoke resistance of 0.9750 has been clearly broken.
Previous resistance at 0.9750 now becomes support.
A lower correction is expected.
We look to buy dips.
Short term bias has turned positive.
We look to Buy at 0.9745 (stop at 0.9725)
Our profit targets will be 0.9795 and 0.9805
Resistance: 0.9770 / 0.9780 / 0.9787
Support:...
UK100 - 24h expiry
Previous support located at 7550.
Previous resistance located at 7600.
Trend line resistance is located at 7630.
A higher correction is expected.
Risk/Reward would be poor to call a sell from current levels.
We look to Sell at 7630 (stop at 7660)
Our profit targets will be 7530 and 7525
Resistance: 7600 / 7630 / 7650
Support: 7550 /...
ASX200 - 24h expiry - We look to Sell at 7210 (stop at 7260)
Posted a Double Bottom formation.
Neckline comes in at 7133.
We are trading at overbought extremes.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower.
The 200 day moving average should provide resistance at 7210.
Our...
The British pound has pushed higher today, courtesy of a strong employment report. In the North American session, GBP/USD is trading at 1.2592, up 0.64%.
The UK labour market remains robust, and today's employment numbers were higher than expected. The economy created 250,000 jobs, up from 182,000 crushing the consensus of 162,000. The unemployment rate dipped...
AUDUSD - 24h expiry
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
We are trading at overbought extremes.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower.
The hourly chart technicals suggests further upside before the downtrend...
NZDJPY - 24h expiry
Previous support located at 85.25.
Previous resistance located at 85.50.
Further upside is expected. Risk/Reward would be poor to call a buy from current levels.
A move through 85.50 will confirm the bullish momentum.
We look to Buy at 85.00 (stop at 84.60)
Our profit targets will be 86.00 and 86.20
Resistance: 85.50 / 86.00 /...
USDCHF - 24h expiry
Short term bias has turned negative.
Broken out of the channel formation to the downside.
Previous resistance located at 0.9060.
We look for a temporary move higher.
Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 0.9060, resulting in improved risk/reward.
We look to Sell at 0.9059 (stop...
EURNZD - 24h expiry
Our short term bias remains positive.
The lack of interest is a concern for bears.
A move through 1.7525 will confirm the bearish momentum.
The bias is to break to the downside.
We look for losses to be extended today.
We look to Sell a break of 1.7524 (stop at 1.7584)
Our profit targets will be 1.7374 and 1.7354
Resistance: 1.7575 /...
