The Japanese yen hit its highest level since August 29th, as the currency powers higher. In the North American session, USD/JPY is trading at 139.17, down 0.53%.
The US dollar can't find its footing, and even a soft GDP reading out of Japan hasn't put a dent in the current yen rally. The economy declined in the third quarter for the first time in a year. GDP fell...
The British pound has reversed directions on Tuesday and posted sharp gains. In the European session, GBP/USD is trading at 1.1902, up 1.22%. The pound has punched above 1.19 for the first time since August 19th.
The UK employment report was soft, with unemployment ticking higher to 3.5%, up from 3.4%. Unemployment rose by 3.3 thousand, down from 3.9 thousand but...
Silver - Intraday - We look to Buy at 21.62 (stop at 21.37)
Dips continue to attract buyers.
Bespoke resistance is located at 22.69.
Due to an Ending Wedge formation, we continue to treat extended gains with caution.
The trend of higher lows is located at 21.53.
Bespoke support is located at 21.62.
Preferred trade is to buy on dips.
Intraday signals are...
EURJPY - Intraday - We look to Sell at 146.20 (stop at 147.10)
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...
GER40 - 11h expiry - We look to Buy at 14041 (stop at 13954)
Our short term bias remains positive.
We look to buy dips.
20 4 hour EMA is at 14033.
Our profit targets will be 14258 and 14298
Resistance: 14330 / 14400 / 14500
Support: 14170 / 14100 / 14000
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not...
EURCHF - 11h expiry - We look to Sell at 0.9829 (stop at 0.9852)
Short term bias has turned negative.
Previous support at 0.9830 now becomes resistance.
Preferred trade is to sell into rallies.
We look for a temporary move higher.
Our profit targets will be 0.9772 and 0.9762
Resistance: 0.9780 / 0.9800 / 0.9830
Support: 0.9760 / 0.9745 / 0.9725
Risk...
GBPUSD - 10h expiry - We look to Sell at 1.1820 (stop at 1.1915)
We are trading at overbought extremes.
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.
Although the anticipated...
EURCHF - Intraday - We look to Sell at 0.9887 (stop at 0.9908)
Short term bias has turned negative.
Bespoke resistance is located at 0.9890.
Preferred trade is to sell into rallies.
Our profit targets will be 0.9832 and 0.9822
Resistance: 0.9870 / 0.9890 / 0.9905
Support: 0.9840 / 0.9820 / 0.9800
Risk Disclaimer
The trade ideas beyond this page are for...
The Japanese yen is taking a breather after posting huge gains on Thursday. In the European session, USD/JPY is trading at 140.30, down 0.45%.
The week wrapped up with a key inflation release. Japan's Producer Price Index slowed to 9.1% in October, down from 10.2% in September. Still, this was above the consensus of 8.8%. Consumer inflation is running around 3%,...
The British pound has soared today, following the US inflation report. GBP/USD is trading at 1.1661, up a massive 2.7%.
The October inflation report was lower than what everyone had expected, which has triggered strong volatility in the currency markets. The US dollar is sharply lower against the majors, as the markets are expecting the Fed to ease up on interest...
UK100 - 10h expiry- We look to Buy at 7201 (stop at 7139)
Previous support located at 7250.
Previous resistance located at 7300.
A lower correction is expected.
Risk/Reward would be poor to call a buy from current levels.
A move through 7300 will confirm the bullish momentum.
Our profit targets will be 7349 and 7399
Resistance: 7300 / 7350 /...
USDCHF - 10h expiry - We look to Sell at 0.9919 (stop at 0.9946)
Short term bias has turned negative.
The bearish engulfing candle on the 4 hour chart is negative for sentiment.
We look for a temporary move higher.
50 4hour EMA is at 0.9928.
Our profit targets will be 0.9851 and 0.9841
Resistance: 0.9900 / 0.9920 / 0.9950
Support: 0.9880 / 0.9850 /...
NZDUSD - 22h expiry - We look to Buy at 0.5850 (stop at 0.5779)
Previous support located at 0.5850.
Previous resistance located at 0.5950.
Further upside is expected although we prefer to set longs at our bespoke support levels at 0.5850, resulting in improved risk/reward.
A move through 0.5950 will confirm the bullish momentum.
Our profit targets will be...
EUR/USD has reversed course today and is in negative territory. In the North American session, the euro is trading at 1.0043, down 0.30%.
The US dollar has rebounded after a 3-day slide against the major currencies. The dollar downswing started on Friday after a lukewarm employment report raised expectations that the Fed will deliver a "modest" 50-basis point,...
GBPJPY - 11h expiry - We look to Sell at 168.70 (stop at 169.90)
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.
With the Ichimoku cloud resistance above we expect gains to be...
USDCHF - 13h expiry - We look to Sell a break of 0.9835 (stop at 0.9861)
Our short term bias remains negative.
There is no clear indication that the downward move is coming to an end.
A break of yesterdays low would confirm bearish momentum.
We look for losses to be extended today.
Our profit targets will be 0.9771 and 0.9761
Resistance: 0.9880 / 0.9920 /...
The Australian dollar has posted sharp gains, as the US dollar is lower against the majors in the North American session. AUD/USD is trading at 0.6542, up 0.97%.
Australia's NAB Business Confidence for October slipped to zero, down from 5 points in September. The significant decline is reflective of a drop in orders, higher rates at home and a gloomy global...
US500 - Intraday - We look to Buy at 3785 (stop at 3770)
Broken out of the triangle formation to the upside.
The measured move target is 3898.
Intraday, and we are between bespoke support and resistance 3785-3835.
Preferred trade is to buy on dips.
Our profit targets will be 3835 and 3898
Resistance: 3835 / 3865 / 3898
Support: 3785 / 3700 / 3484
Risk...
