The euro has edged lower on Friday. EUR/USD is trading at 1.1088 in the North American session at the time of writing, down 0.20%.
Today’s US nonfarm payrolls wasn’t a disaster but certainly nothing to smile about. The economy created 142 thousand new jobs in August, better than the July gain of 114 thousand but short of the market estimate of 160 thousand. The...
The Japanese yen has posted gains on Thursday. In the North American session, USD/JPY is trading at 143.27 at the time of writing, down 0.33% on the day. The yen continues to pummel the US dollar and is up 1.9% this week. Since July 1, the yen has surged a massive 10.7%.
Average cash earnings in Japan rose 3.6% y/y in July, down from 4.5% in June, which was the...
The Australian dollar is drifting on Wednesday. AUD/USD is trading at 0.6704 in the European session, down 0.10% today at the time of writing. The Australian dollar took a bath a day earlier, sliding 1.1%, one of the sharpest daily declines this year.
Australia’s economy gained a paltry 0.2% q/q in the second quarter, shy of the market estimate of 0.3% and...
The Australian dollar is sharply lower on Tuesday. AUD/USD is trading at 0.6732 in the European session, down 0.88% today at the time of writing.
Australia’s economy has been sputtering and the markets aren’t expecting much change from second-quarter GDP on Wednesday. GDP is expected to trickle lower to 1% y/y, down from 1.1% in Q1, which was the weakest pace of...
The Australian dollar is sharply lower on Tuesday. AUD/USD is trading at 0.6732 in the European session, down 0.88% today at the time of writing.
Australia’s economy has been sputtering and the markets aren’t expecting much change from second-quarter GDP on Wednesday. GDP is expected to trickle lower to 1% y/y, down from 1.1% in Q1, which was the weakest pace of...
GER40 - 24h expiry
Price action continues to trade around the all-time highs.
Price action resulted in a new all-time high at 18973.
There is no clear indication that the upward move is coming to an end.
Preferred trade is to buy on dips.
20 4hour EMA is at 18886.
We look to Buy at 18885 (stop at 18765)
Our profit targets will be 19185 and 19265...
NIK225 - 24h expiry
The sequence for trading is higher highs and lows.
Our short term bias remains positive. The primary trend remains bullish.
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
We look to buy dips.
20 4hour EMA is at 38645.
We look to Buy at 38650 (stop at 38370)...
The Australian dollar continues to have a quiet week. AUD/USD is trading at 0.6804 in the European session, up 0.09% today at the time of writing.
Consumer spending in Australia has been weak, which has chilled economic activity. Retail sales for July didn’t provide any relief with a reading of zero, shy of the market estimate of 0.3% and well off the June gain...
US500 - 24h expiry
Levels above 5630 continue to attract sellers.
The 161.8% Fibonacci extension is located at 5544 from 5650 to 5585.
Bespoke support is located at 5540.
Selling spikes offers good risk/reward.
Economic figures could adversley affect the short term technical picture.
We look to Sell at 5630 (stop at 5665)
Our profit targets will be 5540...
NIK225 - 24h expiry
Our short term bias remains positive.
There is no clear indication that the upward move is coming to an end.
Preferred trade is to buy on dips.
Dip buying offers good risk/reward.
20 4hour EMA is at 38333.
We look to Buy at 38340 (stop at 38030)
Our profit targets will be 39010 and 39190
Resistance: 38817 / 39000 / 39200
Support:...
The euro has extended its decline on Thursday. In the European session, EUR/USD is trading at 1.1095 at the time of writing, down 0.22% on the day. The US dollar has rebounded against the euro this week, climbing 0.89%.
Inflation is expected to ease in Germany and the eurozone, which could have significant impact on the European Central Bank rate announcement on...
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 0.6235 will confirm the bullish momentum.
The measured move...
The Australian dollar continues to have a quiet week. AUD/USD is trading at 0.6796 in the European session, up 0.06% on the day at the time of writing.
Australia’s inflation rate continued to decelerate in July, although the markets were hoping for more. CPI rose 3.5%, down from 3.8% in June but above the market estimate of 3.4%. This was the lowest figure since...
CHN50 - 24h expiry
Indecisive price action has resulted in sideways congestion on the intraday chart.
RSI (relative strength indicator) is flat and reading close to 50 (mid-point) highlighting the fact that we are non- trending.
Risk/Reward would be poor to call a buy from current levels.
A move through 11850 will confirm the bullish momentum.
The measured...
The Japanese yen has edged lower on Tuesday. In the European session, USD/JPY is trading at 144.76, up 0.17% on the day at the time of writing.
Is Japanese inflation falling? On Tuesday, two inflation indicators pointed to a deceleration in inflation in July. BoJ Core CPI, which is closely monitored by the Bank of Japan, dropped to 1.8%, down from 2.1% in June...
The euro is in negative territory on Monday. In the European session, EUR/USD is trading at 1.1156 at the time of writing, down 0.32% on the day. The euro posted strong gains on Friday, rising 0.73% and breaking above 1.12 for the first time since July 17.
The markets got what they were looking for from Federal Reserve Chair Powell on Friday – an endorsement for...
The Canadian dollar is showing some strength on Friday. In the North American session, USD/CAD is trading at 1.3532 at the time of writing, down 0.60% on the day. The Canadian dollar is at its highest level since early April and is poised to post its third winning week in a row.
Canada’s retail sales report was a mix. In June, retail sales fell 0.3% m/m,...
The New Zealand dollar is drifting on Thursday. In the North American session, NZD/USD has fallen to 0.6132 at the time of writing, down 0.41% on the day.
The New Zealand dollar continues to have its way with its US counterpart and has soared 4% since July 29.
The markets are braced for a downturn in retail sales for the second quarter, with a market estimate of...
