Gold - Intraday - We look to Buy at 1834 (stop at 1822)
Intraday, and we are between bespoke support and resistance 1834-1843.
A break of resistance at 1843 should lead to a more aggressive move higher towards 1871.
There is no clear indication that the upward move is coming to an end.
Further upside is expected and we look to set longs in early trade.
The...
EURCHF - Intraday - We look to Sell at 0.9906 (stop at 0.9928)
Price action continued to range between key support & resistance (0.9850 - 0.9900) and we expect this to continue.
Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end.
Setbacks should be limited to yesterday's low.
The...
NZDJPY - 24h expiry - We look to Sell at 84.95 (stop at 85.80)
Previous support located at 83.00.
Previous resistance located at 84.50.
Indecisive price action has resulted in sideways congestion on the intraday chart.
Resistance could prove difficult to breakdown.
Risk/Reward would be poor to call a sell from current levels.
Our profit targets will be...
It has been a disastrous session for AUD/USD, which has plunged 1.26% and is trading at 0.6899.
RBA Governor Philip Lowe faced a grilling from Australian lawmakers earlier. Higher rates and high inflation have caused a cost-of-living crisis and the RBA has been heavily criticised for the sharp rate-tightening cycle.
Lowe confirmed that more rate hikes were on...
UK100 - Intraday - We look to Sell a break of 7899 (stop at 7943)
Previous support located at 7900.
Previous resistance located at 7975.
Bearish divergence can be seen on the 4 hour chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower.
Price action looks to...
GER40 - Intraday - We look to Buy at 15252 (stop at 15172)
The trend of lower lows is located at 15250. 15243 has been pivotal.
Preferred trade is to buy on dips.
20 1day EMA is at 15250.
There is no clear indication that the upward move is coming to an end.
Our profit targets will be 15452 and 15492
Resistance: 15400 / 15480 / 15510
Support: 15350 /...
NIK225 - 24h expiry - We look to Buy at 27390 (stop at 27210)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
Previous resistance located at 27812.
A lower correction is expected.
The bias is still for higher levels and we look for any dips to be limited.
We therefore, prefer to fade into the dip with a...
Gold - Intraday - We look to Sell at 1881 (stop at 1896)
Posted Mixed Daily results for the last 6 days.
Intraday, and we are between bespoke support and resistance 1843-1882.
A sequence of intraday lower lows and highs has been posted.
We have a 78.6% Fibonacci pullback level of 1881 from 1890 to 1850.
Preferred trade is to sell into rallies.
Our profit...
EURCHF - Intraday - We look to Sell at 0.9901 (stop at 0.9925)
Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end.
Our short term bias remains negative.
We look for a temporary move higher.
50 4hour EMA is at 0.9904.
Bespoke resistance is located at 0.9900.
Our profit targets...
NIK225 - 24h expiry - We look to Sell at 27690 (stop at 27802)
Buying pressure from 27266 resulted in prices rejecting the dip.
The current move higher is expected to continue.
Previous resistance located at 27755.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
This is negative for short term sentiment...
The New Zealand dollar has started the week in positive territory. In the North American session, NZD/USD is trading at 0.6357, up 0.76%.
It has been a long break for the Reserve Bank of New Zealand, which last met in November. At the meeting, the central bank delivered a record 75-basis point hike, bringing the cash rate to 4.25%. The rate statement noted that...
US500 - Intraday - We look to Sell at 4151 (stop at 4186)
Trading within a Corrective Channel formation.
Trend line resistance is located at 4154.
Bespoke resistance is located at 4151.
Preferred trade is to sell into rallies.
The medium term bias is neutral.
Our profit targets will be 4074 and 4041
Resistance: 4151 / 4154 / 4194
Support: 4074 / 4041 /...
Palladium - Intraday - We look to Sell at 1588.5 (stop at 1611.9)
Trades at the lowest level in 60 weeks.
We are trading at oversold extremes.
There is no clear indication that the downward move is coming to an end.
Previous support at 1590 now becomes resistance.
We look for a temporary move higher.
Our profit targets will be 1530.1 and 1525.1...
It has been a busy day for the Japanese yen, which jumped as much as 1.1% today before paring most of those gains. In the European session, USD/JPY is trading at 131.04, down 0.37%.
The Japanese yen posted sharp gains after a Nikkei report that Kazua Ueda would be selected as the Bank of Japan's next governor. Ueda is a former member of BoJ's policy board and...
FRA40 - Intraday - We look to Buy at 7100 (stop at 7035)
Previous support located at 7150.
Previous resistance located at 7200.
There is no clear indication that the upward move is coming to an end.
Short term RSI has turned positive. Risk/Reward would be poor to call a buy from current levels.
A move through 7200 will confirm the bullish momentum.
Our...
EURUSD - Intraday - We look to Sell at 1.0743 (stop at 1.0792)
Broken out of the channel formation to the downside.
Buying posted in Asia.
Reverse trend line resistance comes in at 1.0742.
The 261.8% Fibonacci extension is located at 1.0595 from 1.0787 to 1.0714.
Bespoke support is located at 1.0595.
Although the anticipated move lower is corrective, it...
Gold - Intraday - We look to Sell at 1882 (stop at 1896)
Inside Soldiers have been posted on the daily chart.
Trading within a Corrective Channel formation.
Intraday, and we are between bespoke support and resistance 1843-1895.
The 261.8% Fibonacci extension is located at 1841 from 1886 to 1868.
Further downside is expected and we prefer to set shorts in...
GER40 - Intraday - We look to Buy at 15422 (stop at 15342)
There is no clear indication that the upward move is coming to an end.
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 4hour EMA is at 15421.
A lower correction is expected.
Our profit...
