The Australian dollar has been showing strong movement this week but is calm on Wednesday. In the European session, AUD/USD is trading at 0.6391, up 0.14% on the day.
Australia released the CPI report for the first quarter. The Australian dollar didn't show much reaction, but the data could point to another rate cut from the Reserve Bank of Australia.
Headline...
NZDJPY - 24h expiry
The primary trend remains bearish.
The rally is close to a correction count on the daily chart.
We look for a temporary move higher.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 84.95.
We look to Sell at 84.95 (stop at 85.25)
Our profit targets will be 83.75 and 83.50
Resistance: 85.00 / 85.50 /...
The Canadian dollar is showing limited movement on Monday. In the European session, USD/CAD is trading at 1.3868, up 0.10% on the day. There are no economic releases out of the US or Canada today.
It's Election Day in Canada. Prime Minister Mark Carney, who has only been in office since March, is favored to win the election. Carney's Liberal Party was badly...
The British pound has edged lower on Friday. In the European session, GBP/USD is trading at 1.3214, down 0.17% on the day.
UK retail sales were a ray of sunshine in March. Monthly, retail sales rose 0.4%, beating the market estimate of -0.4% but below the revised 0.7% increase in February. Clothing sales showed strong growth as shoppers took advantage of the...
NZDUSD - 24h expiry
There is no clear indication that the upward move 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 0.6000 will confirm the bullish momentum.
The measured move...
EURAUD - 24h expiry
The RSI is trending lower.
Price action looks to be forming a top.
Preferred trade is to sell into rallies.
Risk/Reward would be poor to call a sell from current levels.
Bespoke resistance is located at 1.7915.
We look to Sell at 1.7915 (stop at 1.8000)
Our profit targets will be 1.7660 and 1.7620
Resistance: 1.7890 / 1.7980 /...
The British pound dropped as much as 0.7% earlier today and is under pressure. In the North American session, GBP/USD is trading at 1.3265, down 0.45% on the day.
The pound has taken advantage of broad US dollar weakness recently, rising 3% in the month of April. On Tuesday, the pound climbed as high as 1.3423, its highest level since September 2024.
UK PMIs...
NZDJPY - 24h expiry
The primary trend remains bearish.
The rally is close to a correction count on the daily chart.
We look for a temporary move higher.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 84.90.
We look to Sell at 84.90 (stop at 85.55)
Our profit targets will be 82.30 and 82.00
Resistance: 84.75 / 85.50 /...
The Japanese yen has rallied for a third straight day. In the European session, USD/JPY is trading at 140.38, down 0.33% on the day. The yen has climbed 1.3% since Thursday, as the US dollar is under pressure against the major currencies.
BoJ Core CPI, a key inflation indicator, remained at 2.2% for a third consecutive month in March, shy of the forecast of 2.4%....
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 0.6025 will confirm the bullish momentum.
The measured move target is...
The Japanese yen came flying out of the gates on Monday. In the European session, USD/JPY is trading at 141.00, down 0.79%. Earlier the yen strengthened to 140.47, its strongest level since Sep. 2024.
The US dollar has posted losses against the major currencies on Monday, including against the yen. Investors gave the US dollar a thumbs down after President...
The euro is showing little movement on Friday. In the European session, EUR/USD is trading at 1.1369, up 0.09% on the day.
The ECB lowered its deposit facility rate on Thursday by a quarter-point, bring the rate to 2.25%. This marked the seventh rate cut since the ECB started its easing cycle in June 2024 and interest rates are now at their lowest since December...
ASX200 - 24h expiry
Daily signals are bearish.
Daily signals for sentiment are at oversold extremes.
The lack of interest is a concern for bulls.
Offers ample risk/reward to sell at the market.
20 1day EMA is at 7766.
We look to Sell at 7785 (stop at 7905)
Our profit targets will be 7435 and 7365
Resistance: 7817 / 7865 / 7987
Support: 7716 / 7600 /...
NZDJPY - 24h expiry
The primary trend remains bearish.
The rally is close to a correction count on the daily chart.
The RSI is trending lower.
Bearish divergence is expected to cap gains.
Bespoke resistance is located at 84.50.
Preferred trade is to sell into rallies.
We look to Sell at 84.50 (stop at 85.15)
Our profit targets will be 81.90 and 81.50...
GBPAUD - 24h expiry
The primary trend remains bullish.
Bullish divergence is expected to support prices.
The RSI is trending higher.
Preferred trade is to buy on dips.
Bespoke support is located at 2.0830.
We look to Buy at 2.0830 (stop at 2.0710)
Our profit targets will be 2.1250 and 2.1320
Resistance: 2.1000 / 2.1200 / 2.1250
Support: 2.0730 / 2.0620...
The British pound is up sharply on Friday, extending its rally for a fourth straight day. In the European session, GBP/USD is trading at 1.3088, up 0.94% on the day. The pound has surged 2.9% since Monday.
UK GDP higher than expected February with a gain of 0.5% m/m. This followed a revised 0% reading in January and beat the market estimate of 0.1%. This was the...
AUDJPY - 24h expiry
There is no indication that the rally is coming to an end.
Further upside is expected.
Risk/Reward would be poor to call a buy from current levels.
A move through 91.00 will confirm the bullish momentum.
The measured move target is 92.00.
We look to Buy at 89.50 (stop at 88.50)
Our profit targets will be 91.50 and 92.00
Resistance:...
The Japanese yen continues to make inroads against the US dollar. In the North American session, USD/JPY is up 1.1% on Wednesday, trading at 144.60. Earlier, the yen strengthened to 143.98, its strongest level since Sept. 2024.
Bank of Japan Governor Kazuo Ueda said on Wednesday that the central bank will have to determine the impact of US trade policy on growth...
