NZDUSD - 24h expiry
The move lower is mixed and volatile, common in corrective sequences.
We expect a reversal in this move.
Risk/Reward would be poor to call a buy from current levels.
A move through 0.6250 will confirm the bullish momentum.
The measured move target is 0.6300.
We look to Buy at 0.6200 (stop at 0.6169)
Our profit targets will be 0.6275...
The Australian dollar is down sharply on Wednesday. In the North American session, AUD/USD is trading at 0.6774, down 0.55%.
For anyone who enjoys strong volatility, look no further than the Australian dollar. Last week, AUD/USD climbed 2.18%, as the US dollar sagged badly after the June inflation report surprised on the downside. The Australian dollar hasn't...
Palladium - 24h expiry
Broken out of the channel formation to the upside.
We look for a temporary move higher.
The primary trend remains bearish.
50 1day EMA is at 1340.
Preferred trade is to sell into rallies.
We look to Sell at 1339.8 (stop at 1363.8)
Our profit targets will be 1279.8 and 1269.8
Resistance: 1322 / 1340 / 1360
Support: 1302 / 1290 /...
NZDUSD - 24h expiry
The move lower is mixed and volatile, common in corrective sequences.
Price action has continued to trend strongly lower and has stalled at the previous support near 0.6250.
Risk/Reward would be poor to call a buy from current levels.
Short term RSI has turned positive.
A move through 0.6300 will confirm the bullish momentum.
We look to...
The British pound has edged lower on Tuesday. In the North American session, GBP/USD is trading at 1.3038, down 0.27%.
The UK is lagging behind other major economies in the fight to curb inflation. Will Wednesday's inflation report bring some good news? In May, CPI remained stuck at 8.7% y/y but is expected to ease to 8.2% in June. The core rate is expected to...
AUDUSD - 24h expiry
0.6900 has been pivotal.
0.6895 has been pivotal.
0.6900 continues to hold back the bulls.
Preferred trade is to sell into rallies.
We look for a temporary move higher.
We look to Sell at 0.6889 (stop at 0.6921)
Our profit targets will be 0.6809 and 0.6785
Resistance: 0.6837 / 0.6850 / 0.6890
Support: 0.6807 / 0.6787 / 0.6770
Risk...
NZDJPY - 24h expiry
Price action has continued to trend strongly higher and has stalled at the previous resistance near 88.50.
We expect a reversal in this move.
Short term RSI has turned negative.
A move through 87.75 will confirm the bearish momentum.
The measured move target is 87.00.
We look to Sell at 88.50 (stop at 89.00)
Our profit targets will be...
The Australian dollar has started the week in negative territory. In the European session, AUD/USD is trading at 0.6816, down 0.32%. The Aussie is coming off a banner week, with gains of 2.18% against the US dollar.
The Reserve Bank of Australia releases the minutes of the July 4th meeting on Tuesday. At that meeting, the RBA took a pause and maintained the cash...
USDCHF - 24h expiry
Trades at the lowest level in 101 months.
There is no indication that the selloff is coming to an end.
We look for a temporary move higher.
Preferred trade is to sell into rallies.
Broken out of the triangle formation to the downside.
We look to Sell at 0.8686 (stop at 0.8716)
Our profit targets will be 0.8616 and 0.8606
Resistance:...
GBPJPY - Intraday
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
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.
We have a 61.8% Fibonacci pullback level of 182.27 from 184.01 to...
GBPCHF - 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.
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.
We look to Sell at...
GBPAUD - 24h expiry
The trend of higher intraday lows has also been broken.
The next barrier is the trend of hourly lows at 1.8950.
Further downside is expected.
A move through 1.9000 will confirm the bearish momentum.
Risk/Reward would be poor to call a sell from current levels.
We look to Sell at 1.9145 (stop at 1.9195)
Our profit targets will be...
The Australian dollar continues to sizzle and has climbed 1.04% on Thursday, after rising 1.56% a day earlier. In the European session, AUD/USD is trading at 0.6857, close to a 3-week high.
Inflation remains the Reserve Bank of Australia's number one priority and Thursday's inflation expectations release vindicated the RBA's concern that inflation expectations...
USDCAD - 24h expiry
Price action has stalled at good support levels and currently trades just above here (1.3150).
We expect a reversal in this move.
Risk/Reward would be poor to call a buy from current levels.
Short term RSI has turned positive.
A move through 1.3200 will confirm the bullish momentum.
We look to Buy at 1.3150 (stop at 1.3110)
Our profit...
NZDUSD - 24h expiry
There is no indication that the rally is coming to an end.
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 0.6300 will confirm the bullish momentum.
The RSI is trending higher.
We...
The Canadian dollar has posted strong gains in Wednesday's North American session. In the North American session, USD/CAD is trading at 1.3146, down 0.63%. On the economic calendar, it has been a busy day, with the Bank of Canada raising interest rates and US inflation falling lower than expected.
The Bank of Canada raised rates by 0.25% on Wednesday, bringing...
AUDUSD - 24h expiry
Previous resistance level of 0.6705 broken.
Short term bias has turned positive.
We are trading at overbought extremes.
A lower correction is expected.
We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
We look to Buy at 0.6625 (stop at 0.6590)
Our profit targets will be 0.6715 and 0.6730...
GER40 - 24h expiry
Short term oscillators have turned positive.
Previous resistance at 15750 now becomes support.
The primary trend remains bullish.
Prices have reacted from 15450.
Trading volume is increasing.
We look to Buy at 15741 (stop at 15641)
Our profit targets will be 15991 and 16051
Resistance: 15851 / 15900 / 16000
Support: 15800 / 15750 /...
