The Canadian dollar is in positive territory on Tuesday. In the North American session, USD/CAD is trading at 1.3400, down 0.39%.
The Canadian consumer was not in a spending mood in September, as retail sales declined by 0.5%, following a 0.4% gain a month earlier. The forecast stood at -0.4%. Core retail sales fell by 0.7%, worse than the consensus of -0.4% and...
USDCHF - Intraday - We look to Buy at 0.9532 (stop at 0.9501)
Previous resistance at 0.9530 now becomes support.
We look to buy dips.
Short term bias is mildly bullish.
Our profit targets will be 0.9609 and 0.9619
Resistance: 0.9580 / 0.9600 / 0.9620
Support: 0.9560 / 0.9530 / 0.9500
Risk Disclaimer
The trade ideas beyond this page are for informational...
GER40 - Intraday - We look to Sell at 14439 (stop at 14521)
We are trading at overbought extremes.
Bearish divergence is expected to cap gains.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
We look for a temporary move higher.
The bearish engulfing candle on the 4 hour chart is negative for sentiment....
GBPNZD - 22h expiry - We look to Buy at 1.9150 (stop at 1.8990)
Previous support located at 1.9250. Previous resistance located at 1.9400. Price action looks to be forming a bottom. Risk/Reward would be poor to call a buy from current levels. A move through 1.9400 will confirm the bullish momentum.
Our profit targets will be 1.9520 and 1.9550
Resistance:...
EURNZD - Intraday - We look to Sell at 1.6845 (stop at 1.6884)
Previous support at 1.6840 now becomes resistance.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
Our short term bias remains negative.
20 4hour EMA is at 1.6838.
Our profit targets will be 1.6748 and 1.6728
Resistance: 1.6800 / 1.6840 /...
Palladium - Intraday - We look to Sell at 1978.8 (stop at 2002.1)
Previous support at 1980 now becomes resistance.
Short term bias has turned negative.
Preferred trade is to sell into rallies.
1985 has been pivotal.
Our profit targets will be 1921.1 and 1911.1
Resistance: 1940 / 1960 / 1980
Support: 1915 / 1900 / 1880
Risk Disclaimer
The trade ideas...
GBPJPY - Intraday - We look to Sell at 167.75 (stop at 168.85)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
We are trading 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 lower.
Preferred trade is to sell into...
USDCHF - Intraday - We look to Buy at 0.9482 (stop at 0.9451)
Previous resistance at 0.9480 now becomes support.
Largest net daily gains in 10 days. We look to buy dips.
Short term momentum is bullish.
Our profit targets will be 0.9559 and 0.9569
Resistance: 0.9530 / 0.9557 / 0.9580
Support: 0.9510 / 0.9480 / 0.9450
Risk Disclaimer
The trade ideas beyond...
The Japanese yen has edged higher on Friday and is trading at 139.90 in the European session.
Inflation continues to creep up in Japan. Core CPI accelerated to 3.6% in October, up from 3.0% in September and edging above the consensus of 3.5%. These levels pale in comparison to what we're seeing in the US, the UK and elsewhere, but Japan hasn't seen these levels...
HS50 - 22h expiry - We look to Buy a break of 18465 (stop at 17985)
Buying pressure from 17703 resulted in prices rejecting the dip.
The current move higher is expected to continue.
Previous resistance located at 18470.
Further upside is expected, however, due to the strong resistance above we prefer to buy a break of 18465, which will confirm the bullish...
The British pound is sharply lower on Thursday as the US dollar has rebounded against the major currencies. In the North American session, GBP/USD is trading at 1.1787, down 1.07%. We continue to see sharp swings from the pound in November.
Jeremy Hunt's Autumn Statement was much more in keeping with the difficult economic times than the ill-fated mini-budget...
AUDJPY - Intraday - We look to Buy at 93.00 (stop at 92.45)
Previous support located at 93.50.
Previous resistance located at 94.00.
A lower correction is expected.
Risk/Reward would be poor to call a buy from current levels.
A move through 94.00 will confirm the bullish momentum.
Our profit targets will be 94.38 and 94.98
Resistance: 94.00 / 95.00 /...
GER40 - Intraday - We look to Sell a break of 14119 (stop at 14226)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
Spikes (rejections) can be seen in both directions highlighting indecision.
We are trading at overbought extremes.
A higher correction is expected.
A break of the recent low at 14123 should...
NZDJPY - Intraday - We look to Buy at 85.50 (stop at 84.85)
Previous support located at 86.00.
Previous resistance located at 86.50.
Further upside is expected although we prefer to set longs at our bespoke support levels at 85.50, resulting in improved risk/reward.
A move through 86.50 will confirm the bullish momentum.
Our profit targets will be 87.00 and...
Palladium - Intraday - We look to Buy at 2036.1 (stop at 2011.1)
Short term momentum is bullish.
A lower correction is expected.
Previous resistance, now becomes support at 2040.
We look to buy dips.
20 4hour EMA is at 2031.
Our profit targets will be 2098.6 and 2108.6
Resistance: 2105 / 2130 / 2150
Support: 2075 / 2040 / 2020
Risk Disclaimer
The trade...
USDCHF - Intraday - We look to Buy at 0.9401 (stop at 0.9369)
A Morning Doji Star formation has been posted at the low (4h chart).
Bespoke support is located at 0.9400.
We look to buy dips.
We are trading at oversold extremes.
Our profit targets will be 0.9479 and 0.9499
Resistance: 0.9450 / 0.9470 / 0.9490
Support: 0.9425 / 0.9400 / 0.9356
Risk...
The British pound has moved higher on Wednesday. In the European session, GBP/USD is trading at 1.1934, up 0.56%. The pound roared on Tuesday, gaining close to 1% and punching past the 1.20 line for the first time in three months.
It has been a busy time for sterling, which has been marked by sharp swings that would make an exotic currency blush. The pound's...
CHN50 - 21h expiry - We look to Sell at 12765 (stop at 13010)
Buying pressure from 12189 resulted in prices rejecting the dip.
The current move higher is expected to continue. Trading within a Bullish Channel formation.
Our expectation now is for this swing higher to continue towards the top of the trend channel, to complete a correction before sellers return....
