GBP/USD is trading quietly for a second straight day. In the North European session, GBP/USD is trading at 1.1035, down 0.18%.
The pound has not posted a winning day since October 12th and has lost 400 points during that time. GBP/USD dropped below the symbolic 1.10 line earlier today, and a break below 1.10 will likely increase talk of the pound following the...
EURCHF - Intraday - We look to Sell a break of 0.9659 (stop at 0.9694)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
A break of yesterdays low would confirm bearish momentum.
20 1day EMA is at 0.9660.
The primary trend remains bearish.
Our profit targets will be 0.9571 and 0.9551
Resistance: 0.9710 /...
EURNZD - Intraday - We look to Buy at 1.7371 (stop at 1.7329)
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
Our short term bias remains positive.
There is no clear indication that the upward move is coming to an end.
20 4hour EMA is at 1.7370.
Our profit targets will be 1.7473...
GBPNZD - Intraday - We look to Buy at 1.9600 (stop at 1.9440)
Previous support located at 1.9800.
Previous resistance located at 1.9900.
Further upside is expected although we prefer to set longs at our bespoke support levels at 1.9600, resulting in improved risk/reward.
A move through 1.9900 will confirm the bullish momentum.
Our profit targets will be...
US500 - Intraday - We look to Sell at 3679 (stop at 3721)
Prices have continued the bearish move lower and resulted in 3 consecutive negative days.
We look for losses to be extended today.
A firmer opening is expected to challenge bearish resolve.
Resistance is located at 3690 and should cap gains to this area.
We look to sell rallies.
Our profit targets...
EURUSD - Intraday 9pm UK expiry - We look to Sell at 0.9814 (stop at 0.9880)
The primary trend remains bearish.
A bearish Head and Shoulders is forming.
We look for a temporary move higher.
Resistance is located at 0.9800 and should cap gains to this area.
Preferred trade is to sell into rallies.
Our profit targets will be 0.9667 and 0.9600
Resistance:...
US500 - Intraday - We look to Buy at 3687 (stop at 3613)
Buying pressure from 3560 resulted in prices rejecting the dip.
This is positive for sentiment and the uptrend has potential to return.
A weaker opening is expected to challenge bullish resolve.
Support is located at 3680 and should stem dips to this area.
Dip buying offers good risk/reward.
Our...
GER40 - Intraday - We look to Sell a break of 12389 (stop at 12471)
Daily signals are bearish. Short term momentum is bearish.
Short term MACD has turned negative.
50 4hour EMA is at 12406.
A break of yesterdays low would confirm bearish momentum.
Our profit targets will be 12191 and 12131
Resistance: 12500 / 12600 / 12700
Support: 12400 / 12300 /...
USD/JPY has been hovering close to the 145 line most of the week, and the trend has continued today. In the European session, USD/JPY is trading at 144.81, down 0.21%.
The US releases nonfarm payrolls later today. The release once received massive coverage and was usually a market-move, but the new era of high inflation and global tightening has stolen much of...
NZD/USD started the day with gains but has reversed directions and is sharply lower in the North American session. The New Zealand dollar is trading at 0.5657, down 1.38%.
As expected, the Reserve Bank of New Zealand delivered a 0.50% hike, bringing the benchmark to 3.50%, its highest level since 2015. The RBNZ has now hiked rates at eight consecutive meetings...
GBP/USD is down sharply today. In the North American session, GBP/USD is trading at 1.1150 down a massive 1.58%. The pound continues to exhibit sharp volatility, with swings of over 1% every day this week.
The fallout surrounding Chancellor Kwarteng's ill-fated mini-budget just won't go away. After immense pressure, Kwarteng abolished the tax breaks for the top...
NZDJPY - 24h expiry - We look to Buy at 81.80 (stop at 81.15)
Previous support located at 82.00.
Previous resistance located at 82.50.
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 82.50 will confirm the bullish momentum.
Our profit targets will...
UK100 - Intraday - We look to Buy at 7000 (stop at 6940)
Previous support located at 7050.
Previous resistance located at 7100.
Price action looks to be forming a bottom.
Risk/Reward would be poor to call a buy from current levels.
Our profit targets will be 7150 and 7170
Resistance: 7100 / 7150 / 7170
Support: 7050 / 7000 / 6950
Risk Disclaimer
The...
EURCHF - Intraday - We look to Sell at 0.9791 (stop at 0.9816)
The primary trend remains bearish.
Rallies should be capped by yesterday's high.
We look for a temporary move higher.
Our profit targets will be 0.9726 and 0.9716
Resistance: 0.9730 / 0.9760 / 0.9790
Support: 0.9700 / 0.9660 / 0.9630
Risk Disclaimer
The trade ideas beyond this page are for...
GBPAUD - Intraday - We look to Buy at 1.7400 (stop at 1.7330)
Previous support located at 1.7500.
Previous resistance located at 1.7550.
Further upside is expected.
Risk/Reward would be poor to call a buy from current levels.
A move through 1.7550 will confirm the bullish momentum.
Our profit targets will be 1.7600 and 1.7650
Resistance: 1.7600 / 1.7650 /...
NASDAQ - 21h expiry - We look to Buy at 11300 (stop at 11052)
Buying pressure from 10840 resulted in prices rejecting the dip.
The reaction higher is positive and highlights a clear reversal.
We look for gains to be extended today.
Further upside is expected although we prefer to buy into dips close to the 11300 level.
Our profit targets will be 11872 and...
USDCHF - Intraday - We look to Sell a break of 0.9784 (stop at 0.9811)
Short term momentum is bearish.
The bearish engulfing candle on the daily chart is negative for sentiment.
A break of the recent low at 0.9785 should result in a further move lower.
Posted a Double Top formation.
There is no indication that the selloff is coming to an end.
Our profit...
ASX200 - 22h expiry - We look to Sell at 6860 (stop at 6950)
Posted a Double Bottom formation.
The 1 day moving average should provide resistance at 6790.
We have a 61.8% Fibonacci pullback level of 6857 from 7138 to 6410.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower.
Preferred...
