CHN50 - Intraday - We look to Buy at 13100 (stop at 13023)
Buying pressure from 13009 resulted in prices rejecting the dip.
This is positive for sentiment and the uptrend has potential to return.
Weekly pivot is at 13101.
Further upside is expected although we prefer to buy into dips close to the 13100 level.
Our profit targets will be 13320 and...
The Japanese yen is sharply higher on Tuesday. In the North American session, USD/JPY is trading at 134.97, down 1.95%.
The US dollar is in broad retreat after US CPI was softer than expected. The November reading dropped to 7.1% y/y, down from 7.7% in October and slightly lower than the 7.3% consensus. The trend was similar for core CPI, which dipped to 6.0%,...
NASDAQ - Intraday - We look to Buy at 11678 (stop at 11608)
Intraday, and we are between bespoke support and resistance 11678-12244.
Dips continue to attract buyers.
Economic figures could adversley affect the short term technical picture.
The sequence for trading is higher highs and lows.
Our profit targets will be 11878 and 11938
Resistance: 11720 / 12244...
GER40 - Intraday - We look to Buy at 14271 (stop at 14198)
Daily signals are mildly bullish.
20 1day EMA is at 14271.
We look to buy dips. Daily momentum has stalled and our bias is now neutral.
The 1 day moving average should provide support at 14271.
Our profit targets will be 14448 and 14498
Resistance: 14390 / 14450 / 14500
Support: 14300 / 14250 /...
NIK225 - 20h expiry - We look to Sell at 28080 (stop at 28260)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower.
The hourly chart technicals suggests further upside before the...
The Japanese yen has started the week with losses. In the North American session, USD/JPY is trading at 137.44, down 0.64%.
Japanese wholesale inflation climbed 9.3% y/y in November, a drop lower than the 9.4% gain in October. This was above the consensus of 8.9%, as a peak in inflation remains elusive. The continuing increase in raw material costs has forced...
Palladium - Intraday - We look to Buy at 1902.6 (stop at 1881.7)
Short term bias has turned positive.
20 4hour EMA is at 1901.3.
Previous resistance at 1900 now becomes support.
We look to buy dips.
Our profit targets will be 1954.9 and 1959.9
Resistance: 1930 / 1958 / 1970
Support: 1915 / 1900 / 1890
Risk Disclaimer
The trade ideas beyond this page are...
EURNZD - Intraday - We look to Sell at 1.6569 (stop at 1.6609)
Trend line resistance is located at 1.6580.
Bespoke resistance is located at 1.6570.
Our short term bias remains negative.
Preferred trade is to sell into rallies.
Our profit targets will be 1.6469 and 1.6449
Resistance: 1.6470 / 1.6520 / 1.6570
Support: 1.6430 / 1.6400 / 1.6370
Risk...
The British pound has posted slight gains today. In the European session, GBP/USD is trading at 1.2257, up 0.32%.
After a rather uneventful week for the US dollar, next week could be marked by plenty of action, with a host of key releases on both sides of the pond. The BoE and Federal Reserve are expected to deliver 50 bp hikes, and we'll get a look at the latest...
AUDUSD - Intraday - We look to Sell at 0.6839 (stop at 0.6879)
We are trading at overbought extremes.
A lower correction is expected.
Previous resistance located at 0.6850.
Weekly pivot is at 0.6840.
We look to sell rallies.
Although the anticipated move lower is corrective, it does offer ample risk/reward today.
Our profit targets will be 0.6739 and...
USDCHF - Intraday - We look to Sell at 0.9389 (stop at 0.9414)
Our short term bias remains negative.
20 4hour EMA is at 0.9384.
Previous support at 0.9390 now becomes resistance.
Daily signals are bearish.
Our profit targets will be 0.9326 and 0.9316
Resistance: 0.9350 / 0.9380 / 0.9400
Support: 0.9325 / 0.9300 / 0.9280
Risk Disclaimer
The trade ideas...
GBPNZD - 21h expiry - We look to Buy at 1.9100 (stop at 1.9020)
Previous support located at 1.9100.
Previous resistance located at 1.9300.
Indecisive price action has resulted in sideways congestion on the intraday chart.
Risk/Reward would be poor to call a buy from current levels.
A move through 1.9300 will confirm the bullish momentum.
Our profit targets...
Palladium - Intraday - We look to Buy at 1804.4 (stop at 1782.8)
Trading has been mixed and volatile.
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
Support is located at 1800 and should stem dips to this area.
We look to buy dips.
Our profit targets will be 1859.8 and 1869.8...
EURNZD - Intraday - We look to Sell at 1.6629 (stop at 1.6669)
Trend line resistance is located at 1.6635.
Prices expected to stall near trend line resistance.
We look for a temporary move higher.
Preferred trade is to sell into rallies.
Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to...
The Australian dollar is showing limited movement for a second successive day. In European trade, AUD/USD is trading at 0.6696, up 0.12%.
Australia's economy underperformed in Q3, with a modest gain of 0.6% m/m. This was lower than the Q2 print of 0.9% and beneath the 0.7% consensus and also marked the weakest quarterly growth this year. Annualized GDP climbed...
EURCHF - Intraday - We look to Buy at 0.9835 (stop at 0.9815)
The trend of higher lows is located at 0.9835.
We look to buy dips.
Our short term bias remains positive.
Our expectation now is for this swing lower to continue towards the bottom of the trend channel, to complete a correction before buyers return.
Our profit targets will be 0.9885 and 0.9895...
GER40 - Intraday - We look to Sell a break of 14239 (stop at 14331)
Short term bias has turned negative.
The trend of higher intraday lows has also been broken.
Our outlook is bearish.
We look for losses to be extended today.
A break of yesterdays low would confirm bearish momentum.
20 1day EMA is at 14240.
Our profit targets will be 14012 and 13962...
The Canadian dollar is slightly lower on Tuesday. In the European session, USD/CAD is trading at 1.3620, up 0.24%.
The Bank of Canada has been aggressive in its tightening, including a whopping full-point hike in July, which brought the cash rate to 2.50%. The BoC has been gradually easing since then, raising rates by 75 bp and then 50 bp, bringing the cash rate...
