NIK225 - 24h expiry - We look to Buy at 27855 (stop at 27635)
We are trading at overbought extremes.
A lower correction is expected.
The bias is still for higher levels and we look for any dips to be limited.
The hourly chart technicals suggests further downside before the uptrend returns.
Further upside is expected although we prefer to buy into dips close...
The New Zealand dollar is almost unchanged ahead of the Reserve Bank of New Zealand (RBNZ) rate decision on Wednesday (New Zealand time). The US releases JOLTS Job Openings.
NZD/USD is trading quietly at the 0.63 line in the European session.
The RBNZ is widely expected to raise rates by 25 basis points, which would bring the benchmark cash rate to 5.0%. Over...
GER40 - 24h expiry -
We are trading at overbought extremes.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
15708 has been pivotal.
A higher correction is expected.
Rallies should be capped by yesterday's high.
We look to Sell at 15699 (stop at 15819)
Our profit targets will be 15401 and 15341...
NIK225 - 24h expiry - We look to Buy at 28098 (stop at 27940)
Price action continued to range between key support & resistance (25535 - 28653) and we expect this to continue.
Short term bias is bullish.
Bespoke support is located at 28098.
Preferred trade is to buy on dips.
Expect trading to remain mixed and volatile.
Our profit targets will be 28469 and...
The Australian dollar has edged higher at the start of the week. In the European session, AUD/USD is trading at 0.6715, up 0.45%. The RBA meets on Tuesday (Australia time) and is expected to pause rates. The US releases ISM Manufacturing PMI, which is expected to record another decline.
The RBA has aggressively tightened interest rates in the current cycle,...
EURJPY - 24h expiry - We look to Sell at 145.55 (stop at 146.20)
Buying pressure from 143.62 resulted in prices rejecting the dip.
The current move higher is expected to continue.
Daily signals for sentiment are at overbought extremes.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction...
USDJPY - 24h expiry -
Majority of the initial daily gains being overturned.
The overnight dip has been bought into and there is scope for further bullish pressure going into this morning.
Intraday, and we are between bespoke support and resistance 132.75-133.53.
The sequence for trading is higher highs and lows.
The 261.8% Fibonacci extension is located at...
EUR/USD is slightly lower on Friday. In the European session, EUR/USD is trading at 1.0883, down 0.21%. The euro continues to look sharp and is poised to record its fifth winning week in a row. Eurozone headline inflation fell sharply, but the core rate ticked higher. In the US, the Core PCE Price Index was within expectations.
ECB policy makers must be pinching...
Gold - 24h expiry - We look to Sell at 1986 (stop at 2002)
Posted Mixed Daily results for the last 8 days.
Trading within a Corrective Channel formation.
The medium term bias remains bullish.
Selling spikes offers good risk/reward.
Trend line resistance is located at 1986.
Our profit targets will be 1922 and 1920
Resistance: 1986 / 1995 / 2018
Support:...
NASDAQ - 24h expiry - We look to Buy at 12677 (stop at 12577)
Traded to the highest level in 30 weeks.
There is no clear indication that the upward move is coming to an end.
An overnight negative theme in Equities has led to a lower open this morning.
Bespoke support is located at 12677.
12682 has been pivotal.
Our profit targets will be 12927 and...
AUDUSD -
Prices spiked higher and stalled at resistance in early trade.
Further selling pressure led to a reversal in price action.
The 200 day moving average should provide resistance at 0.6731.
The medium term bias remains bearish.
Previous resistance located at 0.6755.
Preferred trade is to sell into rallies.
24h expiry - We look to Sell at 0.6755...
NZDJPY - 24h expiry - We look to Buy at 82.25 (stop at 81.60)
Previous support located at 82.50.
Previous resistance located at 83.00.
The trend of lower intraday highs has also been broken.
Further upside is expected.
Risk/Reward would be poor to call a buy from current levels.
Our profit targets will be 83.75 and 84.00
Resistance: 83.00 / 83.50 /...
USD/JPY is posted gains on Thursday after dropping sharply a day earlier. In the North American session, USD/JPY is trading at 132.45, down 0.31%. Later today, we'll get a look at Tokyo Core CPI, a key inflation measure.
Wednesday was a day to forget for the Japanese yen, which lost 1.5% against the US dollar. USD/JPY touched a high of 132.89, its highest level...
GBPJPY - 24h expiry - We look to Buy at 161.85 (stop at 160.90)
Previous resistance level of 161.85 broken.
Short term bias has turned positive.
We are trading at overbought extremes.
A lower correction is expected.
We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
Our profit targets will be 164.05 and...
The British pound continues to rally and is up for a fourth straight day. BoE member Mann said on Wednesday that the Bank of England will have a difficult time setting monetary policy due to inflation. The US releases the Core PCE Price Index, a key inflation measure, on Friday.
In the European session, GBP/USD is trading at 1.2346, up 0.23%. The pound is poised...
EURNZD -
Price action continued to range between key support & resistance (1.7300 - 1.7440) although we expect a break of this range soon.
The bias is to break to the upside.
The primary trend remains bullish.
A lower correction is expected.
We look to buy dips.
24h expiry - We look to Buy at 1.7322 (stop at 1.7272)
Our profit targets will be 1.7442 and...
ASX200 - 24h expiry - We look to Sell at 7160 (stop at 7210)
We are trading at overbought extremes.
This is negative for sentiment and the downtrend has potential to return.
The hourly chart technicals suggests further upside before the downtrend returns.
The 200 day moving average should provide resistance at 7175.
Preferred trade is to sell into rallies....
The Australian dollar is trading at 0.6670 in Europe, down 0.57%. Australian inflation was lower than expected, raising speculation that the Reserve Bank of Australia might pause at its April meeting.
Australia's inflation rate for February eased to 6.7% y/y, down from 7.4% prior and the 7.2% estimate. It may be too early to declare that inflation has peaked, but...
