GBPJPY - Intraday - We look to Buy at 160.50 (stop at 159.95)
Buying pressure from 160.39 resulted in prices rejecting the dip.
Price action looks to be forming a bottom.
Short term bias is bullish.
The hourly chart technicals suggests further downside before the uptrend returns.
We look to buy dips.
Our profit targets will be 161.90 and 162.20...
GER40 - Intraday - We look to Buy at 15275 (stop at 15195)
Daily signals are bullish.
Short term momentum is bearish.
20 1day EMA is at 15305.
Bespoke support is located at 15300.
We expect prices to stall close to our bespoke level (15300).
Our profit targets will be 15475 and 15515
Resistance: 15500 / 15580 / 15660
Support: 15400 / 15350 / 15300
Risk...
The euro is down for a third straight day and fell earlier to 1.0629, its lowest level since Jan. 23. In the European session, EUR/USD is trading at 1.0639, down 0.30%.
The US dollar is showing some strength this week against the majors, as US data continues to shine. Retail sales impressed with a 3% gain earlier this week, and PPI and unemployment claims were...
The British pound has steadied on Thursday. In the European session, GBP/USD is trading at 1.2053, up 0.25%. This follows a sharp drop of 1.2% a day earlier.
UK inflation continues to fall but remains disturbingly high. Headline inflation fell to 10.1% in January, down from 10.5% in December and below the consensus of 10.3%. The drop in inflation is welcome news,...
NASDAQ - Intraday - We look to Buy at 12404 (stop at 12293)
Posted Mixed Daily results for the last 9 days.
An overnight negative theme in Equities has led to a lower open this morning.
A sequence of intraday higher highs and lows has been posted.
Bespoke support is located at 12383.
A Fibonacci confluence area is located at 13347.
Our profit targets will...
Gold - Intraday - We look to Buy at 1834 (stop at 1822)
Intraday, and we are between bespoke support and resistance 1834-1843.
A break of resistance at 1843 should lead to a more aggressive move higher towards 1871.
There is no clear indication that the upward move is coming to an end.
Further upside is expected and we look to set longs in early trade.
The...
EURCHF - Intraday - We look to Sell at 0.9906 (stop at 0.9928)
Price action continued to range between key support & resistance (0.9850 - 0.9900) and we expect this to continue.
Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end.
Setbacks should be limited to yesterday's low.
The...
NZDJPY - 24h expiry - We look to Sell at 84.95 (stop at 85.80)
Previous support located at 83.00.
Previous resistance located at 84.50.
Indecisive price action has resulted in sideways congestion on the intraday chart.
Resistance could prove difficult to breakdown.
Risk/Reward would be poor to call a sell from current levels.
Our profit targets will be...
It has been a disastrous session for AUD/USD, which has plunged 1.26% and is trading at 0.6899.
RBA Governor Philip Lowe faced a grilling from Australian lawmakers earlier. Higher rates and high inflation have caused a cost-of-living crisis and the RBA has been heavily criticised for the sharp rate-tightening cycle.
Lowe confirmed that more rate hikes were on...
UK100 - Intraday - We look to Sell a break of 7899 (stop at 7943)
Previous support located at 7900.
Previous resistance located at 7975.
Bearish divergence can be seen on the 4 hour 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.
Price action looks to...
GER40 - Intraday - We look to Buy at 15252 (stop at 15172)
The trend of lower lows is located at 15250. 15243 has been pivotal.
Preferred trade is to buy on dips.
20 1day EMA is at 15250.
There is no clear indication that the upward move is coming to an end.
Our profit targets will be 15452 and 15492
Resistance: 15400 / 15480 / 15510
Support: 15350 /...
NIK225 - 24h expiry - We look to Buy at 27390 (stop at 27210)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
Previous resistance located at 27812.
A lower correction is expected.
The bias is still for higher levels and we look for any dips to be limited.
We therefore, prefer to fade into the dip with a...
Gold - Intraday - We look to Sell at 1881 (stop at 1896)
Posted Mixed Daily results for the last 6 days.
Intraday, and we are between bespoke support and resistance 1843-1882.
A sequence of intraday lower lows and highs has been posted.
We have a 78.6% Fibonacci pullback level of 1881 from 1890 to 1850.
Preferred trade is to sell into rallies.
Our profit...
EURCHF - Intraday - We look to Sell at 0.9901 (stop at 0.9925)
Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end.
Our short term bias remains negative.
We look for a temporary move higher.
50 4hour EMA is at 0.9904.
Bespoke resistance is located at 0.9900.
Our profit targets...
NIK225 - 24h expiry - We look to Sell at 27690 (stop at 27802)
Buying pressure from 27266 resulted in prices rejecting the dip.
The current move higher is expected to continue.
Previous resistance located at 27755.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
This is negative for short term sentiment...
The New Zealand dollar has started the week in positive territory. In the North American session, NZD/USD is trading at 0.6357, up 0.76%.
It has been a long break for the Reserve Bank of New Zealand, which last met in November. At the meeting, the central bank delivered a record 75-basis point hike, bringing the cash rate to 4.25%. The rate statement noted that...
US500 - Intraday - We look to Sell at 4151 (stop at 4186)
Trading within a Corrective Channel formation.
Trend line resistance is located at 4154.
Bespoke resistance is located at 4151.
Preferred trade is to sell into rallies.
The medium term bias is neutral.
Our profit targets will be 4074 and 4041
Resistance: 4151 / 4154 / 4194
Support: 4074 / 4041 /...
Palladium - Intraday - We look to Sell at 1588.5 (stop at 1611.9)
Trades at the lowest level in 60 weeks.
We are trading at oversold extremes.
There is no clear indication that the downward move is coming to an end.
Previous support at 1590 now becomes resistance.
We look for a temporary move higher.
Our profit targets will be 1530.1 and 1525.1...
