The Japanese yen is trading at 1.36.83 in the European session, down 0.52%. USD/JPY fell 0.90% on Thursday but has recovered much of those losses today.
Bank of Japan Governor Kuroda didn't fire any final shots at his final meeting today. The BoJ maintained interest rates at -0.1%, where they have been pegged since 2016, and didn't make any changes to its to...
EURNZD - Intraday -
Daily signals are bullish.
Our bespoke resistance of 1.7270 has been clearly broken.
Previous resistance at 1.7270 now becomes support.
20 4hour EMA is at 1.7264.
We look to buy dips.
We look to Buy at 1.7266 (stop at 1.7226)
Our profit targets will be 1.7366 and 1.7386
Resistance: 1.7377 / 1.7400 / 1.7440
Support: 1.7340 / 1.7270 /...
HS50 - 24h expiry - We look to Sell a break of 19635 (stop at 19860)
Selling posted in Asia.
Selling pressure dominated price action yesterday and we expect this to continue today.
Previous support located at 19635.
The medium term bias remains bearish.
Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 19635,...
GBPUSD - Intraday - We look to Sell at 1.1935 (stop at 1.1985)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
We are trading at oversold extremes.
A higher correction is expected.
The bias is still for lower levels and we look for any gains to be limited.
We therefore, prefer to fade into the rally with...
Palladium - Intraday -
We are trading at oversold extremes.
Daily signals are bearish.
There is no indication that the selloff is coming to an end.
Previous support at 1405 now becomes resistance.
We look for a temporary move higher.
50 4hour EMA is at 1408.
We look to Sell at 1403.4 (stop at 1427.3)
Our profit targets will be 1343.3 and 1333.3...
ASX200 - 24h expiry - We look to Sell at 7373 (stop at 7409)
Buying pressure from 7264 resulted in prices rejecting the dip.
The current move higher is expected to continue.
The bias is still for lower levels and we look for any gains to be limited.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Further...
NASDAQ - Intraday - We look to Buy at 12031 (stop at 11951)
Continued downward momentum from 12455 resulted in the pair posting net daily losses yesterday.
Buying posted in Asia.
Intraday, and we are between bespoke support and resistance 12021-12238.
We are trading at oversold extremes.
Dips continue to attract buyers.
Our profit targets will be 12231 and...
GER40 - Intraday
Bearish divergence can be seen on the daily chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower.
The bearish engulfing candle on the daily chart is negative for sentiment.
Short term momentum is bearish.
50 4hour EMA is at 15490.
We look...
GBPAUD - 24h expiry - We look to Buy at 1.7875 (stop at 1.7815)
Previous support located at 1.7900.
Previous resistance located at 1.8000.
Price action has stalled at good resistance levels and currently trades just below here (1.8000).
A lower correction is expected.
Dips continue to attract buyers.
A move through 1.8000 will confirm the bullish momentum....
USD/CHF has rebounded on Tuesday, ending a rally that saw the Swiss franc climb over 1%. In the European session, USD/CHF is trading at 0.9344, up 0.40%.
Switzerland released the February inflation report on Monday and the reading was higher than expected. CPI rose 0.7% m/m, up from 0.6% in February and above the 0.4% forecast. On an annualized basis, CPI climbed...
USDCHF - Intraday - We look to Sell at 0.9348 (stop at 0.9375)
Short term bias has turned negative.
Our bespoke support of 0.9341 has been clearly broken.
Previous support at 0.9340 now becomes resistance.
50 4hour EMA is at 0.9350.
20 4hour EMA is at 0.9349.
Preferred trade is to sell into rallies.
Our profit targets will be 0.9281 and 0.9271...
GER40 - Intraday
Broken out of the channel formation to the upside.
Trades at the highest level in 13 months.
Price action continues to trade around the all-time highs.
A lower correction is expected.
20 4 hour EMA is at 15525.
We look to buy dips.
We look to Buy at 15525 (stop at 15445)
Our profit targets will be 15725 and 15755
Resistance: 15680 /...
NZDJPY - 24h expiry - We look to Buy at 83.75 (stop at 83.00)
Previous support located at 84.00.
Previous resistance located at 84.50.
The move lower is mixed and volatile, common in corrective sequences.
We expect a reversal in this move.
Risk/Reward would be poor to call a buy from current levels.
A move through 84.50 will confirm the bullish momentum....
GBPJPY - Intraday - We look to Buy at 163.10 (stop at 162.50)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
This is positive for sentiment and the uptrend has potential to return.
Levels close to the 61.8% pullback level of 163.03 found buyers.
The hourly chart technicals suggests further downside before...
USDCHF - Intraday
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
Short term momentum is bearish.
There is no clear indication that the downward move is coming to an end.
The primary trend remains bearish.
0.9341 has been pivotal.
A break of the recent low at 0.9341 should result in a further move lower....
The Canadian dollar is coming off a relatively quiet week but that could change as there a host of key releases this week. Ivey PMI kicks things off later today, followed by the Bank of Canada rate decision on Wednesday and the February employment report on Friday.
Canada's Ivey PMI recorded a massive rebound in January, climbing from 33.4 all the way to 60.1...
US500 - Intraday - We look to Sell at 4014 (stop at 4034)
Posted a Bullish Hammer Bottom on the Daily chart.
Buying posted in Asia.
Bespoke resistance is located at 4014.
The previous swing high is located at 4018.
A bullish reverse Head and Shoulders is forming.
Although the anticipated move lower is corrective, it does offer ample risk/reward today.
Our...
The Japanese yen has gained ground on Friday. In the European session, USD/JPY is trading at 136.17, down 0.44%.
There was some positive news on the inflation front, as Tokyo Core CPI for February slowed for the first time since January 2022. The indicator was expected to rise from 4.3% to 4.5%, but instead reversed directions and fell to 3.3%. The sharp drop was...
