The Canadian dollar is steady on Thursday after gaining around 1% over the past two days. In the European session, USD/CAD is trading at 1.4351, up 0.07% on the day. We could see some volatility from the Canadian dollar over the next two days, with the release of the Ivey PMI today and the employment report on Friday.
The Trump tariff saga took a twist on...
EURAUD - 24h expiry
We are trading at overbought extremes.
Bearish divergence is expected to cap gains.
The rally is close to a correction count on the daily chart.
We look to Sell a break of 1.6950.
A lower correction is expected.
We look to Sell a break of 1.6950 (stop at 1.7010)
Our profit targets will be 1.6740 and 1.6710
Resistance: 1.7070 / 1.7100...
The Australian dollar has extended its gains on Wednesday. AUD/USD is trading at 0.6271 in the European session, up 0.20% on the day. The Australian dollar jumped 0.75% on Tuesday, driven by the hawkish Reserve Bank of Australia minutes and a solid retail sales report.
Australia's economy expanded by 1.3% y/y in the fourth quarter of 2024, up from 0.8% in Q3...
JP225USD - 24h expiry
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
A higher correction is expected.
The primary trend remains bearish.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Further downside is expected although we prefer to sell into rallies...
The Australian dollar has edged higher on Tuesday. AUD/USD is trading at 0.6243 in the European session, up 0.28% on the day.
The Reserve Bank of Australia's minutes from the February meeting reiterated the central bank's cautious stance. The meeting marked a milestone as the RBA pressed the rate-cut trigger for the first time in four years, after maintaining...
AU200AUD - 24H expiry
Price action has continued to trend strongly lower and has stalled at the previous support near 8150.
Price action looks to be forming a bottom.
Risk/Reward would be poor to call a buy from current levels.
A move through 8250 will confirm the bullish momentum.
The measured move target is 8300.
We look to Buy at 8175 (stop at 8125)
Our...
The euro has charged out of the gates and posted strong gains on Monday. In the North American session, EUR/USD is trading at 1.0484, up 1.06%. With today's sharp gains, the euro has ended a three-day slide.
Inflation in the eurozone eased to 2.4% y/y in February, down from 2.5% in January but above the market estimate of 2.3%. Monthly, inflation jumped 0.5%,...
Gold - 24h expiry
Our short term bias remains negative.
The trend of higher intraday lows has also been broken.
Offers ample risk/reward to sell at the market.
50 1hour EMA is at 2871.
The overnight rally has been sold into and there is scope for further bearish pressure going into this morning.
We look to Sell at 2874.5 (stop at 2895.1)
Our profit targets...
The Japanese yen has extended its losses on Friday. In the European session, USD/JPY is trading at 150.39, up 0.40% on the day.
After a string of releases that pointed to an upswing in inflation, Tokyo core CPI for February reversed the trend on Friday. Japan's CPI, PPI and the Bank of Japan Core CPI all accelerated in the most recent releases but Tokyo Core...
CHN50 - 24h expiry
Price action has continued to trend strongly lower and has stalled at the previous support near 13200.
Further upside is expected.
Risk/Reward would be poor to call a buy from current levels.
A move through 13400 will confirm the bullish momentum.
The measured move target is 13550.
We look to Buy at 13300 (stop at 13200)
Our profit...
The Swiss franc is down for a second straight trading day. In the European session, USD/CHF is trading at 0.8980, up 0.38% on the day.
The Swiss economy slowed to 0.2% q/q in the fourth quarter of 2024, down from 0.4% in Q3 and in line with expectations. This was the weakest expansion since Q2 2023. Construction weakened in the fourth quarter but manufacturing...
USDCHF - 24h expiry
Broken out of the channel formation to the downside.
Our short term bias remains negative.
Previous support level of 0.8965 broken.
Preferred trade is to sell into rallies.
50 4hour EMA is at 0.8987.
We look to Sell at 0.8987 (stop at 0.9012)
Our profit targets will be 0.8915 and 0.8905
Resistance: 0.8974 / 0.9004 / 0.9020
Support:...
NIK225 - 24h expiry
Daily signals for sentiment are at oversold extremes.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
Preferred trade is to buy on dips.
The hourly chart technicals suggests further downside before the uptrend returns.
We therefore, prefer to fade into the dip...
The Japanese yen is slightly lower on Wednesday. In the North American session, USD/JPY is trading at 149.25, up 0.16% on the day.
What is the best performing G-10 currency against the US dollar this year? Surprisingly, the Japanese yen is the winner, with gains of about 5% against the greenback. This is a remarkable turnaround from 2024, when the yen plunged...
The Australian dollar is steady after two straight losing trading days. In the North American session, AUD/USD is trading at 0.6343, down 0.09% on the day.
Australia releases the consumer price index for January on Wednesday. Inflation has been moving higher, as CPI accelerated in December to 2.5% y/y, up from 2.3% and its highest level since August. The market...
NZDUSD - 24h expiry
Trend line support is located at 0.5725.
RSI (relative strength indicator) is flat and reading close to 50 (mid-point) highlighting the fact that we are non- trending.
We expect a reversal in this move.
Risk/Reward would be poor to call a buy from current levels.
A move through 0.5775 will confirm the bullish momentum.
We look to Buy at...
EURJPY - 24h expiry
Posted a Bullish Hammer Bottom on the 4 hour chart.
Bullish divergence can be seen on the 4 hour chart (the chart makes a lower low while the oscillator makes a higher low), often a signal of exhausted bearish momentum, or at least a correction higher.
This is positive for short term sentiment and we look to set longs at good risk/reward...
The New Zealand dollar is showing little movement on Monday. NZD/USD is trading at 0.5745 in the European session, up 0.07% on the day.
The week started on a high note in New Zealand, as retail sales jumped 0.9% q/q in the fourth quarter of 2024, after a revised flat reading in the third quarter and above the market estimate of 0.6%. This was the strongest gain...
