DE30EUR - intraday
There is no clear indication that the upward move is coming to an end.
A Doji style candle has been posted from the high.
A lower correction is expected.
Preferred trade is to buy on dips.
20 4hour EMA is at 15694.
We look to Buy at 15705 (stop at 15605)
Our profit targets will be 15955 and 16005
Resistance: 15869 / 15900 /...
The British pound is trading lower on Friday. In the European session, GBP/USD is trading at 1.2381, down 0.27%.
The pound has shown sharp swings this week, notably a 1.78% jump on Tuesday after US inflation was weaker than expected, sending the US dollar sharply lower against the majors. The pound is up 1.28% this week.
UK retail sales were expected to bounce...
NIK225 - 24h expiry
Price action has continued to trend strongly higher and has stalled at the previous resistance near 33648.
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...
The British pound has extended its losses on Thursday. In the European session, GBP/USD is trading at 1.2401, down 0.11%.
The pound is having a roller-coaster week. GBP/USD surged 1.8% on Tuesday following the soft US inflation print and climbed to a two-month high. However, the pound has since coughed up about half those gains and is trading at the 1.24 line....
USDCHF - 24h expiry
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.
Posted a Double Bottom formation.
Price action has posted a Doji candle and confirms a possible stall in the recent move.
Price action looks to be...
CN50USD - 24h expiry
Buying pressure from 11908 resulted in prices rejecting the dip.
The current move higher is expected to continue.
Short term bias is mildly bullish.
The trend of higher lows is located at 11908.
Preferred trade is to buy on dips.
We look to Buy at 12035 (stop at 11985)
Our profit targets will be 12155 and 12195
Resistance: 12245 /...
EURJPY - 24h expiry
We are trading at overbought extremes.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
A lower correction is expected.
We prefer to consider the medium term trend and expect buying interest to support as prices move lower.
Further upside is expected although we prefer to buy into dips...
The Australian dollar is unchanged on Wednesday, after massive gains a day earlier. In the European session, AUD/USD is trading at 0.6505.
Australian wage growth climbed 1.3% q/q in the third quarter, matching the consensus estimate and above an upwardly revised 0.9% gain in Q2. This was the highest gain since records started in 1997, but the spike was largely...
GBPAUD - 24h expiry
There is no clear indication that the upward move is coming to an end.
Trend line support is located at 1.9225.
We expect a reversal in this move.
Risk/Reward would be poor to call a buy from current levels. A move through 1.9250 will confirm the bullish momentum.
We look to Buy at 1.9205 (stop at 1.9155)
Our profit targets will be...
The Japanese yen has rebounded on Tuesday with strong gains. In the North American session, USD/JPY is trading at 150.70, down 0.67%.
The yen has snapped a nasty six-day losing streak which saw the currency lose 1.5%. The US dollar is broadly lower today after the October inflation report was weaker than expected.
US inflation was softer than expected in...
GBPCHF - 24h expiry
We are trading at overbought extremes.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower.
The current move higher is expected to continue.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Although the anticipated...
The British pound has edged higher on Monday. In the European session, GBP/USD is trading at 122.48, up 0.18%. The pound is coming off a nasty week, in which it declined 1.2%.
The UK labour market has been resilient despite the Bank of England's aggressive tightening but is showing some cracks. We'll get a look at key employment numbers on Wednesday. Job growth...
GBPJPY - 24h expiry
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
Previous resistance located at 185.89.
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.
Although the anticipated move...
UK100 - Intraday
Indecisive price action has resulted in sideways congestion on the intraday chart.
Risk/Reward would be poor to call a buy from current levels.
Short term RSI has turned positive.
A move through 7425 will confirm the bullish momentum.
The measured move target is 7525.
We look to Buy at 7365 (stop at 7315)
Our profit targets will be 7485...
SPX500USD - Intraday
Broken out of the wedge formation to the upside.
The formation has a measured move target of 4540.
Bearish Outside Day posted, a pattern that often indicates the end of a bullish run and the start of a new downward bias.
Bespoke support is located at 4310.
Reverse trend line support comes in at 4295.
There is scope for mild buying at...
The British pound is steady on Friday. In the European session, GBP/USD is trading at 1.2219, down 0.02%. The pound is coming off a nasty four-day slide, in which it declined 1.19%.
Today's UK's GDP numbers weren't pretty, but they managed to beat the forecasts, which has helped the British pound stabilize after a disappointing week. The economy flatlined in the...
NZDJPY - 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 90.00 will confirm the bullish momentum.
The RSI is trending...
The UK economy has been struggling and Friday's GDP is expected to indicate negative growth, with a market consensus of -0.1% q/q for the third quarter. In Q2, GDP showed a small gain of 0.2%. August GDP is expected at 0.0% m/m, after a 0.2% gain in September. A soft GDP report will raise speculation about a recession and could weigh on the pound.
Bank of England...
