USDCHF - 13h expiry - We look to Sell a break of 0.9835 (stop at 0.9861)
Our short term bias remains negative.
There is no clear indication that the downward move is coming to an end.
A break of yesterdays low would confirm bearish momentum.
We look for losses to be extended today.
Our profit targets will be 0.9771 and 0.9761
Resistance: 0.9880 / 0.9920 /...
The Australian dollar has posted sharp gains, as the US dollar is lower against the majors in the North American session. AUD/USD is trading at 0.6542, up 0.97%.
Australia's NAB Business Confidence for October slipped to zero, down from 5 points in September. The significant decline is reflective of a drop in orders, higher rates at home and a gloomy global...
US500 - Intraday - We look to Buy at 3785 (stop at 3770)
Broken out of the triangle formation to the upside.
The measured move target is 3898.
Intraday, and we are between bespoke support and resistance 3785-3835.
Preferred trade is to buy on dips.
Our profit targets will be 3835 and 3898
Resistance: 3835 / 3865 / 3898
Support: 3785 / 3700 / 3484
Risk...
AUDUSD - Intraday - We look to Sell at 0.6478 (stop at 0.6527)
There is no sign that this bullish momentum is faltering but the pair has stalled close to a previous swing high of 0.6492.
We are trading at overbought extremes.
Price action looks to be forming a top.
Further downside is expected although we prefer to sell into rallies close to the 0.6470 level....
Palladium - 11h expiry - We look to Buy at 1822.3 (stop at 1798.9)
A bullish reverse Head and Shoulders is forming.
Bespoke support is located at 1820.
We look to buy dips.
The bullish engulfing candle on the daily chart is positive for sentiment.
We look for a temporary move lower.
Our profit targets will be 1879.8 and 1884.8
Resistance: 1880 / 1900 /...
The New Zealand dollar is steady today, after ending the week with huge gains. NZD/USD is trading at 0.5934 in the North American session.
The US dollar was broadly lower on Friday, after the nonfarm payroll report sent mixed signals about the strength of the labor market. The October reading of 261,000 was stronger than the consensus of 200,000, but it marked...
NASDAQ - 9h expiry - We look to Buy at 10650 (stop at 10550)
Broke the sequence of 4 negative daily performances.
A Fibonacci confluence area is located at 10650.
Bespoke support is located at 10640.
Preferred trade is to buy on dips.
Our profit targets will be 11130 and 11640
Resistance: 11130 / 11620 / 12825
Support: 10650 / 10640 / 10600
Risk...
USDCHF - Intraday expiry in 12h - We look to Buy at 0.9921 (stop at 0.9894)
We are trading at oversold extremes.
Daily signals are mildly bullish.
Levels below 0.9930 continue to attract buyers.
We look to buy dips.
Our profit targets will be 0.9988 and 0.9998
Resistance: 0.9970 / 0.9985 / 1.0020
Support: 0.9950 / 0.9930 / 0.9915
Risk Disclaimer
The...
EUR/USD has rebounded and is in positive territory. In the European session, the euro is trading at 0.9794, up 0.45%. The upswing has ended a 3-day slide, in which the euro fell as much as 270 points.
The manufacturing sector in the eurozone continues to struggle. German and eurozone manufacturing PMIs are mired in contraction territory and German Factory Orders...
GBPUSD - Intraday - We look to Sell at 1.1335 (stop at 1.1440)
Buying pressure from 1.1149 resulted in prices rejecting the dip.
We are trading at oversold extremes.
The current move higher is expected to continue.
Ichimoku cloud resistance comes in at 1.1353.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for...
USDCHF - Intraday - We look to Buy at 1.0051 (stop at 1.0024)
Previous resistance at 1.0050 now becomes support.
We look to buy dips.
50 4hour EMA is at 1.0051.
The primary trend remains bullish.
Our profit targets will be 1.0118 and 1.0128
Resistance: 1.0100 / 1.0130 / 1.0145
Support: 1.0083 / 1.0050 / 1.0020
Risk Disclaimer
The trade ideas beyond this...
US500 - 7h expiry - We look to Sell at 3807 (stop at 3847)
Trades at the lowest level in 8 days.
Broken out of the wedge to the downside.
The formation has a measured move target of 3629.
We are trading at oversold extremes.
Preferred trade is to sell into rallies.
3810 has been pivotal.
Yesterday's Marabuzo is located at 3807.
Our profit targets will be...
The British pound is sharply lower today. In the European session, GBP/USD is trading at 1.179, down 1.83%. It has been a dreadful week for the pound, which has declined by 3.7%.
The Bank of England delivered as advertised, raising rates by a super-size 75 basis points today in a 7-2 vote. This was the sharpest rate hike since 1989 and brings the cash rate to...
EURCHF - 11h expiry - We look to Sell at 0.9906 (stop at 0.9931)
Broken out of the triangle formation to the downside.
Trend line resistance is located at 0.9907.
We look for a temporary move higher.
Preferred trade is to sell into rallies.
Short term bias has turned negative.
Our profit targets will be 0.9848 and 0.9838
Resistance: 0.9880 / 0.9910 /...
GER40 - 11h expiry - We look to Sell a break of 13098 (stop at 13171)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
50 4hour EMA is at 13140.
A break of yesterdays low would confirm bearish momentum.
A close below the key support at 13100 is expected to lead to further selling pressure.
The bearish...
HS50 - 22h expiry - We look to Sell at 16140 (stop at 16680)
Previous resistance located at 15836.
We are trading at overbought extremes.
This is negative for sentiment and the downtrend has potential to return.
The hourly chart technicals suggests further upside before the downtrend returns.
We look to sell rallies.
Our profit targets will be 14600 and...
The Swiss franc is showing little movement for a second straight day. In the North American session, USD/CHF is trading at 0.9993, down 0.03%.
Consumer confidence fell in the October survey to -47, down from -42 in the previous quarter. This marked a record low, as Swiss consumers have become even more pessimistic about the economic outlook. The survey found that...
EURCHF - 14h expiry - We look to Sell at 0.9915 (stop at 0.9935)
Trades with a bearish descending triangle formation.
Trend line resistance is located at 0.9915.
Preferred trade is to sell into rallies.
Our profit targets will be 0.9865 and 0.9855
Resistance: 0.9880 / 0.9910 / 0.9925
Support: 0.9864 / 0.9851 / 0.9820
Risk Disclaimer
The trade ideas...
