CHN50 - 24h expiry
Bespoke resistance is located at 15000.
15068 has been pivotal.
15045 has been pivotal.
Preferred trade is to sell into rallies.
Expect trading to remain mixed and volatile.
We look to Sell at 14975 (stop at 15095)
Our profit targets will be 14615 and 14545
Resistance: 14921 / 15068 / 15200
Support: 14756 / 14600 / 14447
Risk...
The New Zealand dollar has renewed its upward move after a pause on Tuesday. In the North American session, NZD/USD is trading at 0.5957, up 0.52% on the day. Earlier, NZD/USD rose as high as 0.5964, a two-month high.
The markets will be keeping a close eye on Reserve Bank of New Zealand Governor Christian Hawkesby, who will discuss the RBNZ's August Monetary...
NZDUSD - 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 0.5950 will confirm the bullish momentum.
The measured move...
The Australian dollar continues to propel higher. In the European session, AUD/USD is trading at 0.6618, up 0.40% on the day. The Aussie has shot up 1.5% since Thursday and is trading at six-week highs.
Australia's consumer and business confidence have taken a hit, pointing to pessimism over the economic outlook. The Westpac Consumer Sentiment Index fell 3.1% m/m...
GBPAUD - 24h expiry
Our short term bias remains negative.
Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end.
2.0650 has been pivotal.
50 4hour EMA is at 2.0622.
Risk/Reward would be poor to call a sell from current levels.
We look to Sell at 2.0615 (stop at 2.0665)
Our profit...
The Japanese yen is in positive territory on Monday. In the European sesssion, USD/JPY is trading at 147.87, down 0.35% on the day.
The week has started on a positive note in Japan, as GDP for the second quarter was revised sharply higher to 2.2% y/y, up from the initial reading of 1.0% and above the Q1 gain of 0.3%.
This was the fastest pace of growth since Q3...
The British pound has pushed higher on Friday. In the North American session, GBP/USD is trading at 1.3519, up 0.66% on the day. About half the pound's gains have come following today's weak US nonfarm payrolls report.
It was a good-news-bad news retail sales report out of the UK today. July retail sales rose a respectable 0.6% m/m, up from a downwardly revised...
The Swiss franc has edged lower on Thursday. In the North American session, USD/CHF is trading at 0.8052, down 0.13% on the day.
Swiss inflation declined in August for the first time since January. CPI slipped 0.1%, following the July reading of zero and the market estimate of zero. Yearly, CPI rose 0.2%, unchanged from July and in line with the market...
The US dollar has posted sharp gains against most of the majors on Tuesday. In the North American session,EUR/USD is trading at 1.1672, down 0.33% on the day. The euro fell as smuch as 0.84% today but has recovered most of those losses after soft US manufacturing data.
Eurozone inflation ticked higher in August to 2.1% y/y, up from 2.0% in July. This was just...
The Australian dollar is coming off a positive week and has extended its gains on Monday. In the North American session, AUD/USD is trading at 0.6556, up 0.27% on the day. Earlier, the Aussie rose as high as 0.6560, its highest level since August 11. With US markets closed for Labor Day, we're unlikely to see stronger movement from AUD/USD during the day.
China's...
The euro is slightly lower on Friday. In the North American session, EUR/USD is trading at 1.1657, down 0.21% on the day.
Germany has released the preliminary inflation report for July, with a hotter-than expected reading. Annually, EU-harmonised CPI rose to 2.1%, up from 1.8% in June and above the market estimate of 2.0%. The figure was the highest level since...
NZDJPY - 24h expiry
Our short term bias remains negative.
The lack of interest is a concern for bulls.
Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end.
50 4hour EMA is at 86.59.
Offers ample risk/reward to sell at the market.
We look to Sell at 86.48 (stop at 86.88)
Our profit...
The euro has posted gains on Thursday. In the North America session, EUR/USD is trading at 1.1670, up 0.27% on the day.
US GDP (second-estimate) surprised on the upside, with a gain of 3.3%. This was revised higher from 3.0% in the preliminary estimate and was an impressive turnaround from the 0.5% decline in the first quarter.
After the release of the...
EURAUD - 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 1.7900 will confirm the bullish momentum.
The measured move...
The Australian dollar is in negative territory on Wednesday. In the European session, AUD/IUSD is trading at 0.6468, down 0.40% on the day.
Australia's CPI for July surprised on the upside, jumping to 2.8% y/y. This followed a 1.9% gain in June and was above the market estimate of 2.3%. The spike in inflation, the highest level since July 2024, was driven by a...
GBPNZD - 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 2.3000 will confirm the bullish momentum.
The measured move...
The Australian dollar is showing limited movement on Tuesday. In the European session, AUD/USD is trading at 0.6482, down 0.01% on the day.
The markets are bracing for an acceleration in Australian CPI on Wednesday. The market estimate stands at 2.3% y/y, compared to 1.9% on June which was the lowest level in over three years. The 1.9% gain was below the Reserve...
NZDUSD - 24h expiry
There is no clear indication that the downward move is coming to an end.
Although we remain bearish overall, a correction is possible without impacting the trend lower.
Risk/Reward would be poor to call a sell from current levels.
A move through 0.5850 will confirm the bearish momentum.
The measured move target is 0.5800.
We look to Sell...
