EURNZD - Intraday - We look to Sell at 1.6879 (stop at 1.6919)
Short term momentum is bearish.
The bearish engulfing candle on the 4 hour chart is negative for sentiment.
There is no clear indication that the upward move is coming to an end.
Previous support at 1.6680 now becomes resistance.
We look for a temporary move higher.
Our profit targets will be...
It has been a quiet day in the currency markets, and the Canadian dollar has followed suit. In the North American session, USD/CAD is trading at 1.3386, down 0.15%.
Inflation in Canada slowed to 6.3% y/y in December, down from 6.8% a month earlier and matching the consensus. On monthly basis, the decline was noticeable at -0.6%, compared to 0.0% in November and...
GBPJPY - Intraday - We look to Sell at 158.10 (stop at 159.05)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
The hourly chart technicals suggests further upside before the downtrend returns.
The bias is still for lower levels and we look for any gains to be limited.
We therefore, prefer to fade into the...
GER40 - Intraday - We look to Sell a break of 15029 (stop at 15119)
We are trading at overbought extremes.
A higher correction is expected.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
Bearish divergence can be seen on the daily chart (the chart makes a higher high while the oscillator makes a lower...
NIK225 - 24h expiry - We look to Buy at 25690 (stop at 25570)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
A Doji style candle has been posted from the base.
Price action looks to be forming a bottom. This is positive for short term sentiment and we look to set longs at good risk/reward levels for a...
USD/JPY is in positive territory on Monday. In the North American session, USD/JPY is trading at 128.50, up 0.52%.
The yen had an excellent week, climbing over 3% and trading at levels not seen since May 2022.
The Bank of Japan holds a two-day policy meeting on Tuesday and Wednesday in what could be one of the highlights of the week. BOJ meetings were...
US500 - Intraday - We look to Buy at 3975 (stop at 3955)
4 positive daily performances in succession.
An overnight negative theme in Equities has led to a lower open this morning.
Bespoke support is located at 3975.
The 261.8% Fibonacci extension is located at 4065 from 3763 to 3878.
Our profit targets will be 4022 and 4065
Resistance: 4022 / 4065 /...
GER40 - Intraday - We look to Buy at 15041 (stop at 14961)
Traded to the highest level in 46 weeks.
We are trading at overbought extremes.
A lower correction is expected.
20 4 hour EMA is at 15035.
We look to buy dips.
Our profit targets will be 15241 and 15281
Resistance: 15200 / 15300 / 15400
Support: 15050 / 14950 / 14900
Risk Disclaimer
The trade...
The British pound is slightly higher on Friday. GBP/USD is trading at 1.2234, up 0.24%. The pound has enjoyed a solid week, with gains of 1.2%.
US inflation continues to decline and slowed for a sixth straight month in December. Headline CPI fell to 6.5%, down from 7.1% and matching the estimate. The drop was driven by lower prices for gasoline as well as new and...
EURNZD - Intraday - We look to Buy at 1.6951 (stop at 1.6911)
A move higher has resulted in prices breaking from the previous range and confirmed our bullish expectation.
Previous resistance at 1.6970 now becomes support.
We look for a temporary move lower.
We look to buy dips.
The primary trend remains bullish.
Our profit targets will be 1.7071 and...
GER40 - Intraday - We look to Sell at 15119 (stop at 151201)
We are trading at overbought extremes.
Bearish divergence can be seen on the daily 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.
Although the bulls are in control, the stalling positive...
The British pound is drifting for a third straight day. In the European session, GBP/USD is trading at 1.2161, down 0.09%. We could see stronger volatility from the pound before the weekend, with the release of the US inflation report and UK GDP on Friday, both of which are market movers.
There is guarded optimism ahead of the US inflation report. Inflation is...
NZDUSD - 24h expiry - We look to Buy at 0.6300 (stop at 0.6225)
Previous support located at 0.6350.
Previous resistance located at 0.6400.
Further upside is expected although we prefer to set longs at our bespoke support levels at 0.6300, resulting in improved risk/reward.
A move through 0.6400 will confirm the bullish momentum.
Our profit targets will be...
The Japanese yen continues to have a quiet week. USD/JPY has edged up 0.20% and is trading at 132.50.
There is optimism in the air ahead of the US inflation report for December. The forecast is for inflation to fall, which is exactly what investors want to hear. The consensus for headline inflation stands at 6.5%, following the November gain of 7.1%. The core...
GER40 - Intraday - We look to Buy at 14702 (stop at 14619)
Our short term bias remains positive.
Prices look to be heading towards a new 44 week high.
A lower correction is expected.
20 4 hour EMA is at 14701.
We look to buy dips.
Our profit targets will be 14898 and 14938
Resistance: 14886 / 15000 / 15100
Support: 14800 / 14700 / 14625
Risk...
EURCHF - Intraday - We look to Buy a break of 0.9926 (stop at 0.9904)
Our short term bias remains positive.
0.9924 has been pivotal.
A break of bespoke resistance at 0.9924, and the move higher is already underway.
Short term momentum is bullish.
We look for gains to be extended today.
Our profit targets will be 0.9981 and 0.9991
Resistance: 0.9913 /...
NZDJPY - 24h expiry - We look to Sell at 85.00 (stop at 85.75)
Previous support located at 84.00.
Previous resistance located at 84.50.
We expect a reversal in this move.
Risk/Reward would be poor to call a sell from current levels.
A move through 84.00 will confirm the bearish momentum.
Our profit targets will be 82.50 and 82.00
Resistance: 84.50 /...
The Australian dollar is in negative territory on Tuesday. In the European session, AUD/USD is trading at 0.6898, down 0.21%. This follows a two-day rally in AUD/USD climbed over 2%.
It could be a busy week for the Australian dollar, with Australia releasing CPI on Wednesday, followed by the US on Thursday. Australian headline inflation dropped to 6.9% in...
