NZDJPY - 24h expiry - We look to Buy a break of 82.50 (stop at 81.75)
Previous support located at 82.00.
Previous resistance located at 82.50.
The selloff is close to an exhaustion count on the intraday chart.
We expect a reversal in this move.
A move through 82.50 will confirm the bullish momentum.
Our profit targets will be 84.00 and 84.50
Resistance:...
The Australian dollar, which has posted strong gains early in the week, has run into a wall on Wednesday. In the European session, AUD/USD is trading at 0.6638, down 0.66%.
Australia releases the February employment report on Thursday (Australia time). Job growth is expected to rebound, with a consensus of 48,500 after a soft January read of -11,500. The...
UK100 - Intraday -
Previous support located at 7600.
Previous resistance located at 7650.
Price action has continued to trend strongly lower and has stalled at the previous support near 7500.
Price action looks to be forming a bottom.
Risk/Reward would be poor to call a buy from current levels.
A move through 7650 will confirm the bullish momentum.
We look...
NZDJPY - 24h expiry - We look to Buy at 83.00 (stop at 82.25)
Previous support located at 83.00.
Previous resistance located at 84.00.
Indecisive price action has resulted in sideways congestion on the daily chart.
Momentum is flat, highlighting the lack of clear direction.
Risk/Reward would be poor to call a buy from current levels.
Our profit targets...
The British pound has reversed directions after an impressive rally that saw GBP/USD climb 370 points. In the European session, GBP/USD is trading at 1.2154, down 0.24%.
The collapse of the Silicon Valley Bank (SVB) on Friday sent the financial markets into turmoil on Monday. US bank stocks declined sharply, while safe-haven gold powered higher. The US dollar...
EURNZD - Intraday - We look to Buy at 1.7145 (stop at 1.7105)
Daily signals are bullish.
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
20 1 day EMA is at 1.7145.
We look to buy dips.
We look for a temporary move lower.
Our profit targets will be 1.7245 and 1.7265
Resistance:...
USDCHF - Intraday -
There is no sign that this bearish momentum is faltering but the pair has stalled close to a previous swing low of 0.9059.
We are trading at oversold extremes.
Bullish divergence is expected to support prices.
We look to buy dips.
With signals for sentiment at oversold extremes, the dip could not be extended.
We look to Buy at 0.9077...
HS50 - 24h expiry - We look to Sell at 19820 (stop at 20150)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
A higher correction is expected.
The medium term bias remains bearish.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Further downside is...
The euro has posted sharp gains at the start of the week, extending its rally against a retreating US dollar. In the North American session, EUR/USD is trading at 1.0740, up 0.95% and its highest level since February 15.
Perhaps it is fitting that today's economic calendar has no US or European releases, allowing investors to focus their full attention on the...
GER40 - Intraday -
Bullish divergence can be seen on the daily (the chart makes a lower low while the oscillator makes a higher low), often a signal of exhausted bearish momentum, or at least a correction higher.
The bullish engulfing candle on the 4 hour chart the positive for sentiment.
We look to buy dips.
Support is located at 15290 and should stem dips...
EURNZD - Intraday -
Our short term bias remains positive.
There is no clear indication that the upward move is coming to an end.
We are trading at overbought extremes.
Trend line support is located at 1.7220.
50 4 hour EMA is at 1.7224.
We look to buy dips.
We look to Buy at 1.7224 (stop at 1.7184)
Our profit targets will be 1.7324 and 1.7344...
RUSS2000 - Intraday - We look to Sell at 1855 (stop at 1875)
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.
Our short term bias remains negative.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a...
FRA40 - Intraday - We look to Sell at 7300 (stop at 7400)
Previous support located at 7150.
Previous resistance located at 7250.
Price action looks to be forming a top.
We expect a reversal in this move.
Risk/Reward would be poor to call a sell from current levels.
A move through 7150 will confirm the bearish momentum.
Our profit targets will be 7100 and...
The Japanese yen is trading at 1.36.83 in the European session, down 0.52%. USD/JPY fell 0.90% on Thursday but has recovered much of those losses today.
Bank of Japan Governor Kuroda didn't fire any final shots at his final meeting today. The BoJ maintained interest rates at -0.1%, where they have been pegged since 2016, and didn't make any changes to its to...
EURNZD - Intraday -
Daily signals are bullish.
Our bespoke resistance of 1.7270 has been clearly broken.
Previous resistance at 1.7270 now becomes support.
20 4hour EMA is at 1.7264.
We look to buy dips.
We look to Buy at 1.7266 (stop at 1.7226)
Our profit targets will be 1.7366 and 1.7386
Resistance: 1.7377 / 1.7400 / 1.7440
Support: 1.7340 / 1.7270 /...
HS50 - 24h expiry - We look to Sell a break of 19635 (stop at 19860)
Selling posted in Asia.
Selling pressure dominated price action yesterday and we expect this to continue today.
Previous support located at 19635.
The medium term bias remains bearish.
Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 19635,...
GBPUSD - Intraday - We look to Sell at 1.1935 (stop at 1.1985)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
We are trading at oversold extremes.
A higher correction is expected.
The bias is still for lower levels and we look for any gains to be limited.
We therefore, prefer to fade into the rally with...
Palladium - Intraday -
We are trading at oversold extremes.
Daily signals are bearish.
There is no indication that the selloff is coming to an end.
Previous support at 1405 now becomes resistance.
We look for a temporary move higher.
50 4hour EMA is at 1408.
We look to Sell at 1403.4 (stop at 1427.3)
Our profit targets will be 1343.3 and 1333.3...
