The Australian dollar has posted losses on Monday. Early in the North American session, AUD/USD is trading at 0.6227, down 0.31% at the time of writing.
It's a very light calendar week, with the Christmas holiday just around the corner. The Reserve Bank of Australia releases the minutes of this month's meeting on Tuesday, which is the sole Australian event this...
The Canadian dollar is showing limited movement on Friday. In the European session, USD/CAD is trading at 1.4384, down 0.11% at the time of writing. On Thursday, the Canadian dollar fell to its lowest level since March, touching 1.4435.
Canada retail sales have risen for four consecutive months and the trend is expected to continue today, with a market estimate...
NZDUSD - 24h expiry
Price action looks to be forming a bottom.
A Doji style candle has been posted from the base.
A higher correction is expected.
The bias is still for lower levels and we look for any gains to be limited.
Preferred trade is to sell into rallies.
We look to Sell at 0.5704 (stop at 0.5736)
Our profit targets will be 0.5623 and 0.5520...
The Japanese yen continues its rapid descent and is sharply lower on Wednesday. In the North American session, USD/JPY is trading at 156.82, up 1.3% on the day. Earlier, the yen weakened to 157.14, its lowest level against the US dollar since July 22.
The Bank of Japan didn't have any surprises up its sleeve on Thursday as it maintained the benchmark interest...
CHN50 - 24h expiry
Indecisive price action has resulted in sideways congestion on the intraday chart.
Buying pressure from 13255 resulted in prices rejecting the dip.
The current move higher is expected to continue.
Preferred trade is to sell into rallies.
Further downside is expected although we prefer to sell into rallies close to the 13705 level.
We look...
The New Zealand dollar has declined sharply on Wednesday. In the North American session, NZD/USD is trading at 0.5685, down 1.2% on the day. The New Zealand dollar has been in freefall, plunging 11.6% since Oct. 1.
New Zealand's economy is expected to contract in the third quarter by 0.4% q/q, after a 0.2% decline in Q2. If the economy contracted for...
NZDUSD - 24h expiry
Price action has continued to trend strongly lower and has stalled at the previous support near 0.5750.
Price action looks to be forming a bottom.
We expect a reversal in this move.
Risk/Reward would be poor to call a buy from current levels.
A move through 0.5775 will confirm the bullish momentum.
We look to Buy at 0.5750 (stop at...
The Canadian dollar continues to lose ground. In the North American session, USD/CAD is trading at 1.4315, up 0.48% at the time of writing. The Canadian dollar has declined 2.2% in December and is trading at its lowest level since mid-March.
Canada's inflation eased to 1.9% in November, down from 2% in October and shy of the market expectations of 2%. However,...
The British pound has moved higher on Monday, after declining 1% last week. In the European session, GBP/USD is trading at 1.2747, up 0.30% on the day.
The UK Services PMI rose to 51.4 in December, up from 50.8 in November, which was a 13-month low. This beat the market estimate of 51.0, but points to weak business activity as demand for UK exports has been weak...
The Swiss franc is down on Thursday following the Swiss National Bank rate announcement. In the North American session, USD/CHF is trading at 0.8880, up 0.43% 80on the day at the time of writing.
Today's Swiss National Bank meeting was live, with the market uncertain as whether the SNB would cut rates by 25 or 50 basis points. In the end, the central bank opted...
Gold - 24h expiry
There is no indication that the rally is coming to an end. Our short term bias remains positive. 5 positive daily performances in succession. Price action continues to trade around significant highs. We look for gains to be extended today. A break of the recent high at 2728.5 should result in a further move higher.
We look to Buy a break of...
NZDUSD - 24h expiry
There is no indication that the selloff 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 0.5775 will confirm the bearish momentum.
The measured move target is 0.5750.
We look to Sell at 0.5820...
The Swiss franc is slightly lower on Wednesday. In the European session, USD/CHF is trading at 0.8845, up 0.19% on the day.
'Tis the season of central bank decisions, with four major central banks making rate announcements this week. The Swiss central bank meets on Thursday and a rate cut has been fully priced, but what will the SNB do? The market has currently...
GER40 - 24h expiry
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
Daily signals for sentiment are at overbought extremes.
A higher correction is expected.
A break of the recent low at 20259 should result in a further move lower.
Rallies should be capped by yesterday's high.
We look to Sell a break of...
NZDJPY - 24h expiry
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
The selloff is close to an exhaustion count on the daily chart.
Price action looks to be forming a bottom.
Bespoke support is located at 87.80.
Risk/Reward would be poor to call a buy from current levels.
We look to Buy at 87.80 (stop at...
GER40 - 24h expiry
Sequence of 7 positive daily performances broken.
We are trading at overbought extremes.
Bearish divergence is expected to cap gains.
Short term MACD has turned negative.
A higher correction is expected.
Rallies should be capped by yesterday's high.
We look to Sell at 20415 (stop at 20535)
Our profit targets will be 20115 and 20025...
ASX200 - 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.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Although the...
USDCHF - 24h expiry
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible. Bullish divergence can be seen on the daily (the chart makes a lower low while the oscillator makes a higher low), often a signal of exhausted bearish momentum, or at least a correction higher.
A bullish reverse Head and Shoulders has...
