EURNZD - 24h expiry
Price action is forming a bearish flag which has a bias to break to the downside.
Trend line resistance is located at 1.7960.
Rallies should be capped by yesterday's high.
We look for a temporary move higher.
Risk/Reward would be poor to call a sell from current levels.
We look to Sell at 1.7950 (stop at 1.8000)
Our profit targets will...
AU200AUD - 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.
A lower correction is expected.
Risk/Reward would be poor to call a buy from current levels.
A move through 7800 will confirm the...
EURJPY - 24h expiry
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 downtrend returns.
Preferred trade is to sell into...
The Japanese yen is down for a third straight day and has declined 1.5% this week. USD/JPY has risen 0.43% on the day and is trading at 155.35 at the time of writing. Early Thursday, the BoJ will release the Summary of Opinions from the April meeting.
Japanese officials remain mum about suspected interventions on the currency markets last week. The yen broke...
GBPAUD - Intraday - We look to Buy at 1.8925 (stop at 1.8875)
Price action looks to be forming a bottom.
Bullish divergence is expected to support prices.
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
Preferred trade is to buy on dips.
Bespoke support is located at 1.8925.
Our profit targets will be...
AUDUSD - 24h expiry
The medium term bias remains bullish.
The sequence for trading is higher highs and lows.
Setbacks should be limited to yesterday's low.
Bespoke support is located at 0.6575.
Preferred trade is to buy on dips.
We look to Buy at 0.6575 (stop at 0.6549)
Our profit targets will be 0.6640 and 0.6650
Resistance: 0.6635 / 0.6665 /...
NZDUSD - 24h expiry
Price action has continued to trend strongly higher and has stalled at the previous resistance near 0.6040.
Short term RSI has turned negative.
Risk/Reward would be poor to call a sell from current levels.
A move through 0.6000 will confirm the bearish momentum.
The measured move target is 0.5980.
We look to Sell at 0.6040 (stop at...
The Australian dollar has started the week with modest gains. AUD/USD is up 0.25%, trading at 0.6624 in the European session at the time of writing. The Aussie is coming off a strong week, having gained 1.19%.
The Reserve Bank of Australia meets on Tuesday and is widely expected to hold the cash rate at 4.35%, a 12-year high. The central bank has maintained rates...
EURGBP - 24h expiry
The medium term bias remains bullish.
The sequence for trading is higher highs and lows.
A lower correction is expected.
Preferred trade is to buy on dips.
Bespoke support is located at 0.8565.
We look to Buy at 0.8565 (stop at 0.8545)
Our profit targets will be 0.8615 and 0.8625
Resistance: 0.8595 / 0.8610 / 0.8625
Support: 0.8565 /...
XPDUSD - 24h expiry
Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end.
There is no clear indication that the downward move is coming to an end.
Our short term bias remains negative.
Preferred trade is to sell into rallies.
20 4hour EMA is at 946.
Risk/Reward would be poor to call...
The British is in positive territory on Friday. GBP/USD is trading at 1.2555, up 0.16% at the time of writing.
The service sector accelerated in April, as the Services PMI rose to 55.0, up from 53.1 in April. This was the strongest level since May 2023 and services has shown growth for six straight months, with readings above the 50 level. The PMI survey noted...
GBPAUD - 24h expiry
The medium term bias remains bearish.
The sequence for trading is lower lows and highs.
Bullish divergence is expected to support prices.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 1.9250.
We look to Sell at 1.9220 (stop at 1.9270)
Our profit targets will be 1.9100 and 1.9070
Resistance: 1.9150 / 1.9250...
GBPUSD - 24h expiry
The primary trend remains bearish.
Price action looks to be forming a top.
Bearish divergence is expected to cap gains.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 1.2560.
We look to Sell at 1.2560 (stop at 1.2596)
Our profit targets will be 1.2470 and 1.2430
Resistance: 1.2560 / 1.2590 / 1.2630
Support:...
It has been a remarkable week for the yen, which has exhibited sharp swings throughout the week.
The Japanese yen fell as much as 1% earlier and on Thursday but has pared most of those losses. USD/JPY has risen 0.38% to 155.19 at the time of writing.
Japan suspected of intervention
In the Asian session, the yen fell as low as 157.55 but then recovered to...
JP225YJPY - 24h expiry
Price action looks to be forming a bottom.
Short term bias is mildly bullish.
Preferred trade is to buy on dips.
The hourly chart technicals suggests further upside before the downtrend returns.
Further upside is expected although we prefer to buy into dips close to the 37830 level.
We look to Buy at 37830 (stop at 37530)
Our profit...
The Australian dollar has steadied on Wednesday after sliding 1.4% a day earlier. AUD/USD is up 0.19%, trading at 0.6489 at the time of writing in the North American session.
Australian dollar slides after soft retail sales
Retail sales in Australia fell 0.4% m/m in March, following a downwardly revised 0.2% gain in February and shy of the market estimate of...
GBPCHF - 24h expiry
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.
Preferred trade is to sell into rallies.
We look for a temporary move...
CHN50 - 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 12550 will confirm the bullish momentum.
The measured move...
