USDCAD - 24h expiry
Price action has continued to trend strongly lower and has stalled at the previous support near 1.3600.
Price action looks to be forming a bottom.
We expect a reversal in this move.
Momentum is flat, highlighting the lack of clear direction.
Risk/Reward would be poor to call a buy from current levels.
A move through 1.3625 will confirm...
The British pound has extended its gains on Thursday. GBP/USD is trading at 1.2876 in the European session, up 0.22% on the day.
The sun is shining in London today and there’s plenty to smile about besides the pleasant weather. England has punched their ticket to the final of the Euro football tournament and UK GDP was stronger than expected. The British pound...
CHN50 - 24h expiry
There is no clear indication that the downward move is coming to an end.
Risk/Reward would be poor to call a sell from current levels.
Price action has stalled at good resistance levels and currently trades just below here (12100).
A move through 12000 will confirm the bearish momentum.
The measured move target is 11850.
We look to Sell...
The New Zealand dollar is sharply lower on Wednesday. NZD/USD is trading at 0.6081 in the European session, down 0.72% on the day at the time of writing.
The Reserve Bank of New Zealand held the cash rate at 5.50% at today’s meeting, the eight consecutive time it has maintained rates. No surprise there, but the rate statement was very dovish, which was completely...
The New Zealand dollar is steady on Tuesday. NZD/USD is trading at 0.6115, down 0.16% in the European session at the time of writing. The New Zealand dollar looked sharp last week against the slumping US dollar, climbing 0.88%.
The Reserve Bank of New Zealand is expected to hold its cash rate at 5.50% for an eighth straight time when its meets early on Wednesday....
UK100 - 24h expiry
Price action looks to be forming a bottom.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
Dip buying offers good risk/reward.
We look for a temporary move lower.
Further upside is expected although we prefer to buy into dips close to the 8175 level.
We look...
GBPAUD - 24h expiry
The primary trend remains bearish.
Intraday signals are mixed.
A higher correction is expected.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 1.9070.
We look to Sell at 1.9070 (stop at 1.9102)
Our profit targets will be 1.8925 and 1.8905
Resistance: 1.9070 / 1.9100 / 1.9150
Support: 1.9010 / 1.8960 /...
The euro has started the week with gains and is trading at 1.0836 in the European session, up 0.33% on the day. EUR/USD is coming off its best week of the year, gaining 1.19%.
France has been on a political roller over the past two weeks and the wild ride isn’t over yet. President Macron called a snap election in June after European parliamentary elections saw...
Gold - 24h expiry
Buying continued from the 61.8% pullback level of 2372.6.
Yesterday's Marabuzo is located at 2374.
Preferred trade is to buy on dips.
Dip buying offers good risk/reward.
Price action continues to trade around significant highs.
We look to Buy at 2373.5 (stop at 2361.5)
Our profit targets will be 2403.5 and 2410.5
Resistance: 2392.9 /...
The Canadian dollar is showing little movement on Friday. In the North American session, USD/CAD is trading at 1.3618, up 0.05% on the day.
Canada and the US released employment data today and surprisingly, the Canadian dollar has showed almost no reaction.
Canada’s labor market contracted in June, with a decrease of 1.4 thousand. This follows a gain of 26.7...
Gold - Intraday
Previous support located at 2355.
Levels close to the 50% pullback level of 2354.5 found buyers.
Dip buying offers good risk/reward.
Our outlook is bullish.
Price action continues to trade around significant highs.
We look to Buy at 2355.5 (stop at 2343.5)
Our profit targets will be 2385.5 and 2393.5
Resistance: 2368.8 / 2387.8 /...
The Japanese yen has rebounded on Thursday and is trading at 161.01, down 0.43% on the day. The yen has been on a slide over the past four weeks and has declined by 3.9% during that time. On Wednesday, the yen fell as low as 161.95, its lowest level since 1986. US markets are closed today for the Fourth of July holiday.
The US ISM Services PMI disappointed on...
FRA40 - 24h expiry
Indecisive price action has resulted in sideways congestion on the intraday chart.
Pivot resistance is at 7700.
We expect a reversal in this move.
Risk/Reward would be poor to call a sell from current levels.
A move through 7625 will confirm the bearish momentum.
We look to Sell at 7700 (stop at 7772)
Our profit targets will be 7520 and...
The Australian dollar is drifting on Wednesday. AUD/USD is trading at 0.6674 at the time of writing, up 0.11%on the day.
Australian consumers have been counting their pennies and reducing discretionary spending. Consumers are feeling the double squeeze of high borrowing costs and stubborn inflation, but retail sales pulled a surprise today with a gain of 0.6% m/m...
EURGBP - 24h expiry
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
Price action looks to be forming a top.
Intraday signals are bearish.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 0.8485.
We look to Sell at 0.8485 (stop at 0.8500)
Our profit targets will be 0.8445 and...
The euro is slightly lower on Tuesday. EUR/USD is trading at 1.0712 in the European session, down 0.24% on the day at the time of writing. The euro hit a two-week high on Monday, rising to 1.0776, but couldn’t consolidate and ended the day almost unchanged.
The annual inflation rate in the eurozone dropped to 2.5% in June, compared to 2.6% a month earlier and in...
The euro has started the week with strong gains. EUR/USD is trading at 1.0756 in the European session, up 0.41% on the day at the time of writing. The euro is at its highest level since June 14.
France went to the polls on Sunday, with voter turnout at a four-decade high. The vote was a stinging rebuke for French President Emmanuel Macron, whose Ensemble alliance...
DE30EUR - 24h expiry
Our bespoke resistance of 18366 has been clearly broken.
Previous resistance at 18325 now becomes support.
Preferred trade is to buy on dips.
The primary trend remains bullish.
Price action continues to trade around significant highs.
We look to Buy at 18325 (stop at 18215)
Our profit targets will be 18565 and 18635
Resistance: 18446...
