EURAUD - 24h expiry
Trading within a Corrective Channel formation.
We expect a reversal in this move.
Momentum is flat, highlighting the lack of clear direction.
A move through 1.6450 will confirm the bearish momentum.
The measured move target is 1.6300.
We look to Sell a break of 1.6445 (stop at 1.6495)
Our profit targets will be 1.6325 and 1.6295...
The New Zealand dollar is lower on Tuesday. In the European session, NZD/USD is trading at 0.6189, down 0.35%.
The Reserve Bank of New Zealand will be in the spotlight on Wednesday. The central bank holds its policy meeting and is expected to leave the official cash rate unchanged at 5.5%. The RBNZ has raised rates 12 consecutive times since August 2021 but has...
GBPJPY - 24h expiry
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
This is positive for sentiment and the uptrend has potential to return.
Previous support located at 179.92.
The hourly chart technicals suggests further downside before the uptrend returns.
We therefore, prefer to fade into the dip with a...
The British pound has drifted lower on Monday. GBP/USD is trading at 1.2827 in the European session, down 0.09%.
The UK labour market remains resilient despite a cooling economy and high interest rates. Tuesday's June jobs report is expected to show strong numbers. The economy is expected to produce 158,000 jobs in June, after a banner reading of 250,000 in May....
US500 - 24h expiry
Bespoke support is located at 4270.
A Fibonacci confluence area is located at 4269.
There is no clear indication that the downward move is coming to an end.
An overnight positive theme in Equities has led to a higher open this morning.
Bespoke resistance is located at 4399.
Further downside is expected and we prefer to set shorts in early...
AUDJPY - 24h expiry
Trading within a Corrective Channel formation.
We look for price action to stay within the channel formation today.
Risk/Reward would be poor to call a buy from current levels.
A move through 95.50 will confirm the bullish momentum.
Short term RSI has turned positive.
We look to Buy at 94.70 (stop at 94.25)
Our profit targets will be...
The Canadian dollar is drifting in the European session, trading at 1.3378.
It has been a good week for the Canadian currency, which is up about 1% against its US cousin. We can expect some significant movement from USD/CAD in the North American session, as both Canada and the US release the June employment reports.
The US labour market has been surprisingly...
GER40 - 24h expiry
The bearish engulfing candle on the weekly chart is negative for sentiment.
Short term bias has turned negative.
There is no clear indication that the downward move is coming to an end.
We are trading at oversold extremes.
We look for a temporary move higher.
Previous support at 15750 now becomes resistance.
We look to Sell at 15749...
NZDJPY - 24h expiry
Trading within a Bullish Channel formation.
We look for price action to stay within the channel formation today.
Our expectation now is for this swing lower to continue towards the bottom of the trend channel, to complete a correction before buyers return.
Risk/Reward would be poor to call a sell from current levels.
The measured move...
US2000 - 24h expiry
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible. We are trading at oversold extremes. Price action looks to be forming a bottom. This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher. The hourly chart technicals suggests...
The Japanese yen is showing strong gains on Thursday. In the European session, USD/JPY is trading at 143.82, down 0.57%.
The Federal Reserve has been aggressively tightening rates in order to curb inflation but took a pause in June after ten consecutive hikes. At the meeting, the Fed said that a pause would provide members with time to assess the impact of the...
AUDUSD - 24h expiry
We are trading at oversold extremes.
Posted a Bullish Hammer Bottom on the 1 hour chart.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
Although the anticipated move higher is corrective, it does offer ample risk/reward today.
Further upside is expected...
NZDUSD - 24h expiry
Broken out of the channel formation to the upside.
Further upside is expected.
Risk/Reward would be poor to call a buy from current levels.
Short term momentum is bullish.
A move through 0.6200 will confirm the bullish momentum.
We look to Buy at 0.6150 (stop at 0.6120)
Our profit targets will be 0.6225 and 0.6250
Resistance: 0.6200...
EUR/USD is showing limited movement on Wednesday. In the European session, the euro is almost unchanged at 1.0882.
The eurozone services sector continues to show growth, but the June numbers showed a deceleration. Eurozone PMI slowed to 52.0, shy of the consensus of 52.4 and down from 55.1 in May. This marked a five-month low. Germany's services sector stalled,...
Palladium - 24h expiry
We are trading at oversold extremes.
There is no clear indication that the downward move is coming to an end.
The current move lower is expected to continue.
Trading within a Bearish Channel formation.
Trend line resistance is located at 1248.
The sequence for trading is lower lows and highs.
We look to Sell at 1249.4 (stop at...
EURAUD - 24h expiry
The current move lower is expected to continue.
Rallies continue to attract sellers.
The RSI is trending lower.
Risk/Reward would be poor to call a sell from current levels.
A move through 1.9250 will confirm the bearish momentum.
We look to Sell at 1.6350 (stop at 1.6410)
Our profit targets will be 1.6210 and 1.6180
Resistance:...
EUR/USD is drifting downward on Tuesday. In the North American session, the euro is trading at 1.0898, down 0.15%. The US markets are closed for the July Fourth holiday, and we can expect limited movement from EUR/USD for the remainder of the day.
After disappointing German and eurozone Manufacturing PMIs on Monday, it's the turn of Services PMIs on Wednesday. ...
EURUSD - 24h expiry
Prices stalled near resistance and reversed lower.
Trend line resistance is located at 1.0920.
Further downside is expected.
Risk/Reward would be poor to call a sell from current levels.
Momentum is flat, highlighting the lack of clear direction.
We look to Sell at 1.0919 (stop at 1.0949)
Our profit targets will be 1.0844 and 1.0834...
