The Canadian dollar continues to lose ground against its US counterpart and is trading at two-month lows. In the European session, the Canadian dollar is trading at 1.3875, down 0.13% on the day. USD/CAD has risen for six straight days, climbing 1.9% during that time.
US nonfarm payrolls for July were softer than expected at 73 thousand, compared to the forecast...
NZDJPY - 24h expiry
Trading has been mixed and volatile.
Price action looks to be forming a top.
We look for a temporary move higher.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 88.90.
We look to Sell at 88.90 (stop at 89.10)
Our profit targets will be 88.10 and 87.90
Resistance: 89.00 / 89.20 / 89.50
Support: 88.40 / 88.10...
EURAUD - 24h expiry
The primary trend remains bullish.
The selloff is close to an exhaustion count on the daily chart.
Preferred trade is to buy on dips.
Risk/Reward would be poor to call a buy from current levels.
Bespoke support is located at 1.7685.
We look to Buy at 1.7685 (stop at 1.7635)
Our profit targets will be 1.7885 and 1.7910
Resistance:...
The Australian dollar is showing limited movement. In the European session, AUD/USD is trading at 0.6500, down 0.15% on the day.
Australia's inflation rate for the second quarter came in lower than expected. Headline CPI dropped to 2.1% y/y, down from 2.4% in the prior two quarters and falling to its lowest level since Q1 2021. This was just below the market...
NZDUSD - 24h expiry
Pivot support is at 0.5935.
We expect a reversal in this move.
Risk/Reward would be poor to call a buy from current levels.
A move through 0.5975 will confirm the bullish momentum.
The measured move target is 0.6000.
We look to Buy at 0.5935 (stop at 0.5910)
Our profit targets will be 0.5985 and 0.6000
Resistance: 0.5975 / 0.5985 /...
ASX200 - 24h expiry
The primary trend remains bullish.
Price action continues to trade around the all-time highs.
20 1day EMA is at 8619.
Offers ample risk/reward to buy at the market.
Our outlook is bullish.
We look to Buy at 8621 (stop at 8573)
Our profit targets will be 8764 and 8794
Resistance: 8670 / 8694 / 8749
Support: 8610 / 8570 / 8524
Risk...
The Australian dollar is down for a third straight trading day. In the North American session, the US dollar has posted gains against most of the major currencies, including the Aussie. The greenback received a boost after the US and the EU reached a framework trade agreement after protracted negotiations.
The data calendar is bare on Monday, with no events out...
ASX200 - 24h expiry
Price action resulted in a new all-time high at 8765.
Price action continues to trade around the all-time highs.
The bullish engulfing candle on the 4 hour chart the positive for sentiment.
50 4hour EMA is at 8658.
We look for a temporary move lower.
We look to Buy at 8661 (stop at 8615)
Our profit targets will be 8801 and 8831...
The euro is showing limited movement on Thursday. In the North American session, EUR/USD is trading at 1.1763, down 0.03% on the day. Earlier, the euro climbed to a high of 1.1788, its highest level since July 7.
The European Central Bank's decision to maintain the key deposit rate at 2.0% was significant but not a surprise. With the hold, the ECB ended a streak...
EURAUD - 24h expiry
The primary trend remains bullish.
We are trading at oversold extremes.
Preferred trade is to buy on dips.
Risk/Reward would be poor to call a buy from current levels.
Bespoke support is located at 1.7760.
We look to Buy at 1.7760 (stop at 1.7715)
Our profit targets will be 1.7940 and 1.7960
Resistance: 1.7840 / 1.7900 /...
The Australian dollar has rallied for a fourth sucessive day. In the North American session, AUD/USD is trading at 0.6588, up 0.50% on the day. The red-hot Aussie has jumped 1.6% since Thursday and hit a daily high of 0.6600 earlier, its highest level since Nov. 2024.
The financial markets are in a risk-on mood today, buoyed by the announcement that the US and...
GBPNZD - 24H expiry
The medium term bias remains bullish.
Price action looks to be forming a bottom.
Preferred trade is to buy on dips.
Bespoke support is located at 2.2515.
Risk/Reward would be poor to call a buy from current levels.
We look to Buy at 2.2515 (stop at 2.2475)
Our profit targets will be 2.2675 and 2.2710
Resistance: 2.2660 / 2.2720 /...
The Japanese yen has started the week with strong gains. In the European session, USD/JPY is trading at 147.71, down 0.07% on the day.
Japanese Prime Minister Ishiba's ruling coalition failed to win a majority in the election for the upper house of parliament on Sunday. The result is a humiliating blow to Ishiba, as the government lost its majority in the lower...
GBPAUD - 24h expiry
The primary trend remains bullish.
Price action looks to be forming a bottom.
We look for a temporary move lower.
Preferred trade is to buy on dips.
Bespoke support is located at 2.0605.
We look to Buy at 2.0605 (stop at 2.0535)
Our profit targets will be 2.0885 and 2.0950
Resistance: 2.0750 / 2.0800 / 2.0970
Support: 2.0600 / 2.0520...
The Japanese yen has started the week with strong gains. In the European session, USD/JPY is trading at 147.71, down 0.73% on the day.
Japanese Prime Minister Ishiba's ruling coalition failed to win a majority in the election for the
upper house of parliament on Sunday. The result is a humiliating blow to Ishiba, as the government lost its majority in the lower...
The Japanese yen is showing little movement on Friday. In the North American session, USD/JPY is trading at 148.69, up 0.06% on the day. On the data calendar, Japan's inflation rate eased in June. It's a light day in the US, highlighted by UoM consumer sentiment and inflation expectations.
Inflation in Japan fell in June as expected and the yen is showing little...
NZDUSD - 24h expiry
The correction lower is assessed as being complete.
We expect a reversal in this move.
Risk/Reward would be poor to call a buy from current levels.
A move through 0.5925 will confirm the bullish momentum.
The measured move target is 0.5975.
We look to Buy at 0.5900 (stop at 0.5875)
Our profit targets will be 0.5950 and 0.5975...
The British pound showing limited movement on Thursday. In the North American session, GBP/USD is trading at 1.3406, down 0.09% on the day.
Today's UK employment report pointed to a cooling in the UK labor market. The number of employees on company payrolls dropped by 41 thousand in June after a decline of 25 thousand in May. Still, the May decline was downwardly...
