The Australian dollar is in positive territory on Tuesday. AUD/USD rose as high as 50 pips earlier but has pared these gains and is trading at 0.6685, up 0.16%.
The Australian dollar is showing some life after last week's awful performance, in which it declined by 2.87%.
On Wednesday, Australia releases the monthly inflation report for May. Inflation is expected...
AUDUSD - 24h expiry
A Doji style candle has been posted from the base.
Buying pressure from 0.6667 resulted in prices rejecting the dip.
Price action looks to be forming a bottom.
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 0.6750 (stop at...
NZDUSD - 24h expiry
Trend line resistance is located at 0.6180.
Previous support located at 0.6150.
We expect a reversal in this move. Risk/Reward would be poor to call a sell from current levels.
A move through 0.6150 will confirm the bearish momentum.
We look to Sell at 0.6180 (stop at 0.6210)
Our profit targets will be 0.6105 and 0.6100
Resistance:...
UK100 - 24h expiry
The current move lower is expected to continue.
Short term RSI has turned negative.
Rallies continue to attract sellers.
Risk/Reward would be poor to call a sell from current levels.
A move through 7425 will confirm the bearish momentum.
We look to Sell at 7500 (stop at 7525)
Our profit targets will be 7425 and 7400
Resistance: 7475 /...
EURCHF - 24h expiry
Bespoke support is located at 0.9755.
Previous resistance at 0.9755 now becomes support.
0.9750 continues to hold back the bears.
We look to buy dips.
Daily signals are mildly bullish.
We look to Buy at 0.9754 (stop at 0.9730)
Our profit targets will be 0.9814 and 0.9824
Resistance: 0.9780 / 0.9795 / 0.9815
Support: 0.9765 / 0.9750 /...
EUR/USD has taken a tumble on Friday. In the European session, the euro is trading at 1.0885, down 0.64%. The euro fell as low as 1.0844 earlier in the day. Later today, the US releases ISM Services PMI. The consensus stands at 54.0 for June, following 54.9 in May. The services sector is in solid shape and the ISM Services PMI has posted four straight readings...
UK100 - Intraday - We look to Sell at 7520 (stop at 7545)
The current move lower is expected to continue.
Rallies continue to attract sellers.
Risk/Reward would be poor to call a sell from current levels.
A move through 7475 will confirm the bearish momentum.
The RSI is trending lower.
Our profit targets will be 7445 and 7425
Resistance: 7500 / 7520 /...
USDCHF - 24h expiry
Daily signals are bearish.
Broken out of the channel formation to the downside.
Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end.
The bearish engulfing candle on the 4 hour chart is negative for sentiment.
20 1day EMA is at 0.8993.
We look to Sell at 0.8993...
NZDUSD - 24h expiry
Previous support located at 0.6175.
Previous resistance located at 0.6200.
Trend line support is located at 0.6150.
A lower correction is expected.
A move through 0.6175 will confirm the bearish momentum.
We look to Sell a break of 0.6175 (stop at 0.6205)
Our profit targets will be 0.6100 and 0.6075
Resistance: 0.6200 / 0.6220 /...
AUDJPY - 24h expiry
The move lower is mixed and volatile, common in corrective sequences.
The previous low is located at 95.80.
The current move lower is expected to continue.
A move through 95.80 will confirm the bearish momentum.
Short term RSI has turned negative.
We look to Sell a break of 95.77 (stop at 96.27)
Our profit targets will be 94.57 and...
GER40 - 24h expiry
Offers ample risk/reward to buy at the market.
The primary trend remains bullish.
The 1 day moving average should provide support at 15923.
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
Bespoke support is located at 15900.
We look to Buy at 15902 (stop at 15802)
Our profit targets...
NZDJPY - 24h expiry
Previous support located at 87.50.
Previous resistance located at 88.00.
There is no clear indication that the upward move is coming to an end.
Further upside is expected.
Risk/Reward would be poor to call a buy from current levels.
A move through 88.00 will confirm the bullish momentum.
We look to Buy at 87.05 (stop at 86.5)
Our...
US500 - 24h expiry
A Doji style candle has been posted from the base.
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.
The hourly chart technicals suggests further downside before the uptrend returns.
Further upside is expected although...
The British pound has edged lower on Wednesday. GBP is trading at 1.2724 in Europe, down 0.3%. GBP/USD spiked after today's inflation release but in currently in negative territory.
The UK released the May inflation report today, and the results were a major disappointment, to put it mildly. With inflation falling for two straight months, there were hopes that...
Palladium - 24h expiry
A bullish reverse Head and Shoulders has formed.
Bespoke support is located at 1355.
We look to buy dips.
With signals for sentiment at oversold extremes, the dip could not be extended.
Offers ample risk/reward to buy at the market.
We look to Buy at 1350.1 (stop at 1326.1)
Our profit targets will be 1410.1 and 1420.1
Resistance:...
NZDUSD - 24h expiry
Previous support located at 0.6125.
Previous resistance located at 0.6175.
Trend line support is located at 0.6100.
Further downside is expected.
Risk/Reward would be poor to call a sell from current levels.
We look to Sell at 0.6200 (stop at 0.6230)
Our profit targets will be 0.6125 and 0.6100
Resistance: 0.6175 / 0.6200 /...
The British pound is lower on Tuesday. In the European session, GBP/USD is trading at 1.2739, down 0.41%.
The UK releases the May inflation report on Wednesday and BoE policy makers will be hoping that inflation continues to trend lower. Inflation dropped in April to 8.7%, decelerating for a second straight month. The consensus stands at 8.4%, and the good news...
AUDJPY - 24h expiry
Previous support located at 96.50.
Previous resistance located at 97.00.
There is no clear indication that the upward move is coming to an end.
Further upside is expected.
Risk/Reward would be poor to call a buy from current levels.
We look to Buy at 96.00 (stop at 95.50)
Our profit targets will be 97.20 and 97.45
Resistance: 97.00...
