GER40 - Intraday - We look to Sell at 14549 (stop at 14631)
We are trading at overbought extremes.
Posted a Treble Top formation.
Rallies should be capped by yesterday's high.
We look for a temporary move higher.
Bearish divergence is expected to cap gains.
Our profit targets will be 14346 and 14306
Resistance: 14500 / 14550 / 14583
Support: 14440 / 14380...
US markets are open for limited hours today, and investors are focussed on the World Cup and Black Friday rather than the US dollar. EUR/USD is trading quietly at 1.0392, down 0.18%.
German data has not been spectacular this week, but nonetheless is moving in the right direction, as the German economy is in decent shape. Germany's GDP for Q3 was revised upwards...
GER40 - Intraday - We look to Buy at 14481 (stop at 14399)
We are trading at overbought extremes.
There is no clear indication that the upward move is coming to an end.
Daily signals are bullish.
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
20 4hour EMA is at 14478.
Our profit...
EURNZD - Intraday - We look to Sell at 1.6679 (stop at 1.6719)
Daily signals are bearish.
Our short term bias remains negative.
Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end.
There is no clear indication that the downward move is coming to an end.
20 4hour EMA is at 1.6680....
The New Zealand dollar continues to gain ground this week. In the North American session, NZD/USD is trading at 0.6267, up 0.35%.
New Zealand will release retail sales for Q3 later in the day. The markets are expecting a small gain of 0.5%, which would be a turnaround from a disappointing -2.2% in Q2. Consumers continue to struggle with high inflation and rising...
GBPJPY - Intraday - We look to Buy at 166.13 (stop at 165.33)
There is no sign that this bullish momentum is faltering but the pair has stalled close to a previous swing high of 169.09.
The current move lower is expected to continue.
The bias is still for higher levels and we look for any dips to be limited.
Further upside is expected although we prefer to...
EURNZD - Intraday - We look to Sell at 1.6721 (stop at 1.6761)
There is no clear indication that the downward move is coming to an end.
Daily signals are bearish.
Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end.
20 4hour EMA is at 1.6722.
Our profit targets will be 1.6621 and...
ASX200 - 22h expiry - We look to Buy at 7189 (stop at 7149)
We are trading at overbought extremes.
A lower correction is expected.
The bias is still for higher levels and we look for any dips to be limited.
Further upside is expected although we prefer to buy into dips close to the 7200 level.
Our profit targets will be 7294 and 7354
Resistance: 7340 /...
GER40 - Intraday - We look to Sell a break of 14309 (stop at 14401)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
A break of the recent low at 14319 should result in a further move lower.
We are trading at overbought extremes.
A Doji style candle has been posted from the high.
Our profit targets will...
EURAUD - 21h expiry - We look to Buy at 1.5445 (stop at 1.5406)
Previous support located at 1.5450.
Previous resistance located at 1.5500.
Further upside is expected although we prefer to set longs at our bespoke support levels at 1.5425, resulting in improved risk/reward.
A move through 1.5500 will confirm the bullish momentum.
Our profit targets will be...
The Canadian dollar is in positive territory on Tuesday. In the North American session, USD/CAD is trading at 1.3400, down 0.39%.
The Canadian consumer was not in a spending mood in September, as retail sales declined by 0.5%, following a 0.4% gain a month earlier. The forecast stood at -0.4%. Core retail sales fell by 0.7%, worse than the consensus of -0.4% and...
USDCHF - Intraday - We look to Buy at 0.9532 (stop at 0.9501)
Previous resistance at 0.9530 now becomes support.
We look to buy dips.
Short term bias is mildly bullish.
Our profit targets will be 0.9609 and 0.9619
Resistance: 0.9580 / 0.9600 / 0.9620
Support: 0.9560 / 0.9530 / 0.9500
Risk Disclaimer
The trade ideas beyond this page are for informational...
GER40 - Intraday - We look to Sell at 14439 (stop at 14521)
We are trading at overbought extremes.
Bearish divergence is expected to cap gains.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
We look for a temporary move higher.
The bearish engulfing candle on the 4 hour chart is negative for sentiment....
GBPNZD - 22h expiry - We look to Buy at 1.9150 (stop at 1.8990)
Previous support located at 1.9250. Previous resistance located at 1.9400. Price action looks to be forming a bottom. Risk/Reward would be poor to call a buy from current levels. A move through 1.9400 will confirm the bullish momentum.
Our profit targets will be 1.9520 and 1.9550
Resistance:...
EURNZD - Intraday - We look to Sell at 1.6845 (stop at 1.6884)
Previous support at 1.6840 now becomes resistance.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
Our short term bias remains negative.
20 4hour EMA is at 1.6838.
Our profit targets will be 1.6748 and 1.6728
Resistance: 1.6800 / 1.6840 /...
Palladium - Intraday - We look to Sell at 1978.8 (stop at 2002.1)
Previous support at 1980 now becomes resistance.
Short term bias has turned negative.
Preferred trade is to sell into rallies.
1985 has been pivotal.
Our profit targets will be 1921.1 and 1911.1
Resistance: 1940 / 1960 / 1980
Support: 1915 / 1900 / 1880
Risk Disclaimer
The trade ideas...
GBPJPY - Intraday - We look to Sell at 167.75 (stop at 168.85)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
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.
Preferred trade is to sell into...
USDCHF - Intraday - We look to Buy at 0.9482 (stop at 0.9451)
Previous resistance at 0.9480 now becomes support.
Largest net daily gains in 10 days. We look to buy dips.
Short term momentum is bullish.
Our profit targets will be 0.9559 and 0.9569
Resistance: 0.9530 / 0.9557 / 0.9580
Support: 0.9510 / 0.9480 / 0.9450
Risk Disclaimer
The trade ideas beyond...
