AUD/USD is down for a third straight day. The Australian dollar is trading at 0.6395, down 0.24%.
The RBA kicks off a busy week of central bank decisions when it meets on Tuesday. This will be followed by the Federal Reserve on Wednesday and the Bank of England on Thursday.
The RBA has delivered a steep rate-tightening cycle this year and the upcoming meeting...
EURNZD - 12h expiry - We look to Sell at 1.7188 (stop at 1.7235)
Short term bias has turned negative.
Rallies should be capped by yesterday's high.
Preferred trade is to sell into rallies.
Our profit targets will be 1.7062 and 1.7042
Resistance: 1.7130 / 1.7170 / 1.7200
Support: 1.7040 / 1.7000 / 1.6930
Risk Disclaimer
The trade ideas beyond this page...
GER40 - 12h expiry - We look to Buy at 13172 (stop at 13089)
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
There is no clear indication that the upward move is coming to an end.
We look for a temporary move lower.
We look to buy dips.
20 4hour EMA is at 13172.
Our profit...
USD/JPY has posted strong gains today. In the European session, the yen is trading at 147.42, up 0.78%.
All eyes were on the Bank of Japan, which wrapped up a crucial 2-day policy meeting on Friday. The meeting came just days after Japan's Ministry of Finance (MOF) intervened in the currency markets after the yen had fallen close to the 152 line, a new 32-year...
US500 - 9h expiry - We look to Sell at 3809 (stop at 3851)
Following yesterday's bearish candle, the overall trend lower looks set to continue today.
A bearish Head and Shoulders is forming.
We look for a temporary move higher.
Preferred trade is to sell into rallies.
Our profit targets will be 3689 and 3640
Resistance: 3813 / 4325 / 4640
Support: 3690 /...
USD/JPY has posted strong gains today. In the European session, the yen is trading at 147.42, up 0.78%.
All eyes were on the Bank of Japan, which wrapped up a crucial 2-day policy meeting on Friday. The meeting came just days after Japan's Ministry of Finance (MOF) intervened in the currency markets after the yen had fallen close to the 152 line, a new 32-year...
EURUSD - 13h expiry - We look to Buy at 0.9902 (stop at 0.9833)
Following yesterday's bearish candle, the overall trend lower looks set to reverse today.
We look for a temporary move lower.
Support is located at 0.9900 and should stem dips to this area.
Preferred trade is to buy on dips.
Our profit targets will be 1.0089 and 1.0150
Resistance: 1.0100 /...
EURCHF - 13h expiry - We look to Sell at 0.9944 (stop at 0.9971)
Rallies should be capped by yesterday's high.
The bearish engulfing candle on the daily chart is negative for sentiment.
The bearish engulfing candle on the 4 hour chart is negative for sentiment.
Posted a Double Top formation.
Bearish divergence is expected to cap gains.
We look for a...
GBPAUD - 21h expiry - We look to Buy at 1.7875 (stop at 1.7805)
Previous support located at 1.7900.
Previous resistance located at 1.8000.
Indecisive price action has resulted in sideways congestion on the intraday chart.
Risk/Reward is good to call a buy from current levels.
A move through 1.8000 will confirm the bullish momentum.
Our profit targets will...
EUR/USD is in a holding pattern ahead of today's ECB rate meeting. In the European session, the euro is trading at 1.0068, down 0.16%.
The ECB holds its policy meeting later today, amidst difficult economic conditions in the eurozone. Inflation jumped to 9.9% in September, up sharply from 9.1%. The manufacturing and services sectors are in decline and confidence...
USDCHF - 14h expiry - We look to Sell at 0.9915 (stop at 0.9941)
Short term bias has turned negative.
Previous support at 0.9920 now becomes resistance.
We look for a temporary move higher.
Preferred trade is to sell into rallies.
Our profit targets will be 0.9852 and 0.9842
Resistance: 0.9870 / 0.9920 / 0.9950
Support: 0.9840 / 0.9820 / 0.9800
Risk...
EURCHF - 14h expiry - We look to Buy at 0.9902 (stop at 0.9879)
Daily signals are mildly bullish.
There is no clear indication that the upward move is coming to an end.
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
20 4hour EMA is at 0.9901.
We look to buy dips.
Our profit...
GBPNZD - 22h expiry - We look to Buy at 1.9700 (stop at 1.9540)
Previous support located at 1.9800. Previous resistance located at 2.0000.
A lower correction is expected.
Risk/Reward would be poor to call a buy from current levels.
Our profit targets will be 2.0070 and 2.0100
Resistance: 2.0000 / 2.0070 / 2.0100
Support: 1.9800 / 1.9700 / 1.9600
Risk...
EUR/USD continues to power forward and has breached the parity line for the first time since September 20th. The euro is red hot, having gained 2.1% this week, as the US dollar has hit a bump in the road and is lower against all the major currencies. In the North American session, EUR/USD is trading at 1.0069, up 1.02%.
The German economy, the largest in the...
US500 - 7h expiry- We look to Sell a break of 3812 (stop at 3867)
Prices have continued the bullish move higher and resulted in 3 consecutive positive days.
A lower correction is expected.
Price action has formed an expanding wedge formation.
A break of 3813 is needed to confirm follow through negative momentum.
Further downside is expected.
Our profit...
UK100 - 10h expiry - We look to Buy at 6965 (stop at 6905)
Previous support located at 7000.
Previous resistance located at 7050.
Further upside is expected although we prefer to set longs at our bespoke support levels at 6965, resulting in improved risk/reward.
A move through 7050 will confirm the bullish momentum.
Our profit targets will be 7115 and 7125...
CHN50 - 21h expiry - We look to Sell at 12340 (stop at 12570)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
A higher correction is expected.
The bias is still for lower levels and we look for any gains to be limited.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move...
The pound has posted sharp gains today. In the European session, GBP/USD is trading at 1.1353, up 0.66%.
Rashi Sunak is the new Prime Minister of the UK, the latest move in what has been a dizzying pace of political developments in the UK. Lizz Truss managed to stick around 10 Downing Street for a mere 44 days, after a mini-budget with unfunded tax cuts was a...
