The Australian dollar has stabilized on Wednesday, after a 2.2% decline over the past three days. In the North American session, AUD/USD is trading at 0.62254, up 0.37% but remains close to five-month lows.
Australia’s employment is expected to post a small gain of 7,200 in March after a blowout gain of 116,500 in February. The unemployment rate is expected to...
EURNZD - 24h expiry
Short term bias has turned positive.
Posted a Double Bottom formation.
Offers ample risk/reward to buy at the market.
Daily signals are bullish.
Previous resistance at 1.7970 now becomes support.
We look to Buy at 1.7975 (stop at 1.7939)
Our profit targets will be 1.8065 and 1.8095
Resistance: 1.8000 / 1.8045 / 1.8090
Support: 1.7978...
NZDUSD - 24h expiry
Daily signals are bearish.
Preferred trade is to sell into rallies.
Our outlook is bearish.
We look for a temporary move higher.
20 4hour EMA is at 0.5932.
The lack of interest is a concern for bulls.
We look to Sell at 0.5930 (stop at 0.5956)
Our profit targets will be 0.5865 and 0.5850
Resistance: 0.5896 / 0.5920 / 0.5935
Support:...
EURJPY - 24h expiry
Price action looks to be forming a top.
A Doji style candle has been posted from the high.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower.
We look to sell rallies.
Although the anticipated move lower is corrective, it does offer ample risk/reward today.
We...
The euro continues to stumble and is down for a fourth straight day. In the European session, EUR/USD is trading at 1.0653, down 0.67%. The euro has fallen 1.7% this week as the US dollar continues to flex its muscles against the major currencies.
The European Central Bank maintained the deposit rate at 4% for a fifth straight time on Thursday, as expected....
The Australian dollar has stabilized on Thursday. In the North American session, AUD/USD is trading at 0.6524, up 0.19%. The Aussie plunged 1.75% a day earlier after US inflation accelerated and beat expectations.
US inflation has hit a bump, as March CPI accelerated to 3.5% y/y, up from 3.2% and above the market estimate of 3.4%. This is the second straight...
GBPUSD - 24h expiry
The medium term bias remains bearish.
Trading within a Bearish Channel formation.
The sequence for trading is lower lows and highs.
Risk/Reward would be poor to call a sell from current levels.
Bespoke resistance is located at 1.2615.
We look to Sell at 1.2615 (stop at 1.2655)
Our profit targets will be 1.2515 and 1.2480
Resistance:...
The Australian dollar has declined sharply on Wednesday. In the North American session, AUD/USD is trading at 0.6515, down 1.7%.
The US consumer price index has accelerated for a second straight month. The March CPI rose 3.5%, up from 3.2% in February and above the market estimate of 3.4%. This was the highest inflation rate since September. On a monthly basis,...
AUDUSD - 24h expiry
Price action looks to be forming a bottom.
The sequence for trading is higher highs and lows.
The 50% Fibonacci retracement is located at 0.6600 from 0.6560 to 0.6645.
Setbacks should be limited to yesterday's low.
Dip buying offers good risk/reward.
We look to Buy at 0.6600 (stop at 0.6575)
Our profit targets will be 0.6665 and 0.6680...
HK33HKD - 24h expiration
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
Trend line support is located at 16530.
Preferred trade is to buy on dips.
Trading within a Corrective Channel formation.
Risk/Reward would be poor to call a buy from current levels.
50 4hour EMA is at 16720....
USDCHF - 24h expiry
0.9000 continues to hold back the bears.
We look to buy dips.
Posted a Double Bottom formation.
0.8998 has been pivotal.
Daily signals are bullish.
We look to Buy at 0.9003 (stop at 0.8977)
Our profit targets will be 0.9068 and 0.9078
Resistance: 0.9060 / 0.9075 / 0.9095
Support: 0.9040 / 0.9020 / 0.9000
Risk Disclaimer
The trade...
The New Zealand dollar has posted considerable gains on Tuesday. In the North American session, NZD/USD is trading at 0.6065, up 0.54% and its highest level since March 21.
The Reserve Bank of New Zealand meets early on Wednesday and it’s practically a given that it will hold the cash rate at 5.5%. This would mark the sixth straight time that the RBNZ maintains...
EURAUD - 24h expiry
The medium term bias remains bearish.
A higher correction is expected.
The sequence for trading is lower lows and highs.
Rallies should be capped by yesterday's high.
Preferred trade is to sell into rallies.
We look to Sell at 1.6480 (stop at 1.6516)
Our profit targets will be 1.6390 and 1.6370
Resistance: 1.6480 / 1.6510 /...
The Australian dollar has pushed higher on Monday. In the North American session, AUD/USD is trading at 0.6600, up 0.35%.
Australia’s Westpac consumer confidence is expected to rebound in April after a 1.8% decline in March. The market estimate stands at 0.5%. We’ll also get a look at the mood of the business sector, with NAB business confidence expected to fall...
DE30EUR - 24h expiry
Short term bias has turned negative.
The bearish engulfing candle on the 4 hour chart is negative for sentiment.
Daily signals for sentiment are at overbought extremes.
Previous support at 18250 now becomes resistance.
The trend of higher intraday lows has also been broken.
20 4hour EMA is at 18254.
We look to Sell at 18350 (stop at...
USDCHF - Intraday
The bearish engulfing candle on the 4 hour chart is negative for sentiment.
0.8999 has been pivotal.
A break of bespoke support at 0.9000, and the move lower is already underway.
We look for losses to be extended today.
A higher correction is expected.
We look to Sell a break of 0.8998 (stop at 0.9030)
Our profit targets will be 0.8918...
The Japanese yen showed a bit of strength earlier but has pared these gains. In the European session, USD/JPY is trading at 15141, up 0.04%
The markets are bracing for a sharp drop in US nonfarm payrolls for March. Job growth hit 353,000 in January but then fell to 275,000 in February and the market estimate for March stands at 200,000. The labour market has...
NZDUSD - 24h expiry
Price action looks to be forming a bottom.
Further upside is expected.
Risk/Reward would be poor to call a buy from current levels.
A move through 0.6050 will confirm the bullish momentum.
The measured move target is 0.6100.
We look to Buy at 0.6020 (stop at 0.5992)
Our profit targets will be 0.6090 and 0.6105
Resistance: 0.6050 /...
