The Swiss franc has moved higher on Thursday and is trading at 0.9068 in the North American session, down 0.41%. On Wednesday, the Swiss franc fell as low as 0.9147, its lowest level in two months.
The Swiss National Bank meets on June 22nd and SNB President Jordan had a warning today for the markets. Jordan said that the central bank would not allow inflation...
US500 - Intraday - We look to Buy at 4155 (stop at 4135)
Levels close to the 50% pullback level of 4170 found buyers.
A Fibonacci confluence area is located at 4164.
Bespoke support is located at 4150.
There is scope for mild selling at the open but losses should be limited.
Although the anticipated move higher is corrective, it does offer ample risk/reward...
The euro has edged higher on Thursday, trading at 1.0708, up 0.19%. The currency remains under pressure as the US dollar is flexing some muscles. On Wednesday, EUR/USD touched a low of 1.0635, its lowest level since March 20.
There are clear signs of disinflation in the eurozone, as rising interest rates have dampened economic activity. Spain and France reported...
Palladium - 24h expiry
Our short term bias remains
negative.
The primary trend remains bearish.
Preferred trade is to sell into rallies. Previous support at 1395 now becomes resistance.
We look for a temporary move higher.
We look to Sell at 1394.8 (stop at 1418.8)
Our profit targets will be 1334.8 and 1324.8
Resistance: 1373 / 1395 / 1415
Support:...
NZDUSD - 24h expiry
Previous support located at 0.6000.
Previous resistance located at 0.6025.
There is no clear indication that the downward move is coming to an end.
A higher correction is expected.
Risk/Reward would be poor to call a sell from current levels.
We look to Sell at 0.6045 (stop at 0.6070)
Our profit targets will be 0.5985 and 0.5970...
EURJPY - 24h expiry
We are trading at oversold extremes.
This is positive for sentiment and the uptrend has potential to return.
The trend of higher lows is located at 146.13.
We prefer to consider the medium term trend and expect buying interest to support as prices move lower.
Further upside is expected although we prefer to buy into dips close to the...
The Canadian dollar is trading close to a two-month low, as the currency remains under pressure. USD/CAD is trading at 1.3646 in the European session, up 0.34%.
Canada releases GDP later today, and the markets are projecting a modest 0.4% q/q for the first quarter, after flatlining in Q4 2022. On an annualized basis, GDP is expected to jump by 2.5%, after...
USDCHF -24h expiry
Our short-term bias remains positive.
Intraday dips continue to attract buyers and there is no clear indication that this trading sequence is ending.
50 4-hour EMA is at 0.9031.
Trend line support is located at 0.9030.
We look to buy dips.
We look to Buy at 0.9031 (stop at 0.9006)
Our profit targets will be 0.9091 and 0.9101...
NIK225 - 24h expiry
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
A lower correction is expected.
We prefer to consider the medium term trend and expect buying interest to support as prices move lower.
Weekly pivot is at 30753.
Further upside is expected although we prefer to buy into dips close to the...
AUDUSD - 24h expiry
Selling pressure dominated price action yesterday and we expect this to continue today.
Previous support located at 0.6490.
The hourly chart technicals suggests further upside before the downtrend returns.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Further downside is expected although...
USD/JPY is showing little movement on Tuesday. In the European session, USD/JPY is trading at 140.17, down 0.19%.
The Japanese yen continues to underperform and has plunged 2.8% in May. The yen fell as low as 140.93 on Monday, its lowest level since November 21st. The sharp depreciation is raising concerns in Tokyo and Masota Kanda, a top official at the Ministry...
The Australian dollar is drifting lower on Tuesday. AUD/USD is trading at 0.6538 in Europe, unchanged on the day.
RBA Governor Lowe testifies before a Senate Committee later today. Lawmakers will likely press Lowe about rate policy and the battle against inflation. Earlier this month, the RBA shocked the markets by delivering a 25-basis point hike. At the April...
EURCHF - 24h expiry
Trades at the lowest level in 32 weeks.
There is no clear indication that the downward move is coming to an end.
The previous swing low is located at 0.9677.
A break of the recent low at 0.9674 should result in a further move lower.
We look for losses to be extended today.
We look to Sell a break of 0.9673 (stop at 0.9693
Our profit...
NZDJPY - 24h expiry
Previous support located at 84.50.
Previous resistance located at 85.00.
Broken out of the channel formation to the downside.
Further downside is expected.
Risk/Reward would be poor to call a sell from current levels.
A move through 84.50 will confirm the bearish momentum.
We look to Sell at 85.35 (stop at 85.75)
Our profit targets will...
USDCHF - 24h expiry
Our short-term bias remains positive.
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
50 4-hour EMA is at 0.9018.
Trend line support is located at 0.9008.
We look to buy dips.
We look to Buy at 0.9018 (stop at 0.8993)
Our profit targets will be 0.9078 and...
EURNZD - Intraday
Daily signals are bullish.
Short term momentum is bullish.
A lower correction is expected.
The previous swing high is located at 1.7556.
Previous resistance at 1.7520 now becomes support.
We look to Buy at 1.7522 (stop at 1.7462)
Our profit targets will be 1.7672 and 1.7692
Resistance: 1.7700 / 1.7738 / 1.7770
Support: 1.7650 / 1.7580...
AUDUSD - Intraday
Posted a Bullish Hammer Bottom on the 4-hour chart.
A higher correction is expected.
Short-term bias has turned negative.
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 rallies close to the 0.6575 level.
We look to Sell at...
ASX200 - 24h expiry
Previous support level of 7129 broken.
Short term bias has turned negative.
Preferred trade is to sell into rallies.
The hourly chart technicals suggests further upside before the downtrend returns.
Further downside is expected although we prefer to sell into rallies close to the 7190 level.
We look to Sell at 7190 (stop at 7230)
Our...
