GBPJPY - Intraday - We look to Sell at 163.50 (stop at 164.40)
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. The 200 day moving average should provide resistance at 163.29. We look to sell rallies.
Our profit targets will be 160.90 and...
CHN50 - Intraday - We look to Buy at 13545 (stop at 13430)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. A lower correction is expected. The 50-day moving average should provide support at 13580. We look to buy dips. Although the anticipated move higher is corrective, it does offer ample risk/reward today....
NZDUSD - Intraday - We look to Sell at 0.6375 (stop at 0.6425)
Previous support located at 0.6300. Previous resistance located at 0.6375. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 0.6375, resulting in improved risk/reward. A move through 0.6300 will confirm the bearish momentum.
Our profit targets will be...
The British pound remains under pressure. In the North American session, GBP/USD is trading at 1.2055, unchanged the day. The pound fell as low as 1.2007 in the Asian session, just above the symbolic 1.20 line.
The economic outlook in the UK is grim and today's employment report didn't bring any cheer. Unemployment claims continue to fall and the labour market...
USDCAD - Intraday - We look to Buy at 1.2825 (stop at 1.2750)
Previous support located at 1.2850. Previous resistance located at 1.2900. Price action looks to be forming a bottom. Risk/Reward would be poor to call a buy from current levels. A move through 1.2900 will confirm the bullish momentum.
Our profit targets will be 1.3000 and 1.3025
Resistance:...
EURAUD - Intraday - We look to Buy at 1.4450 (stop at 1.4350)
Previous support located at 1.4450. Previous resistance located at 1.4550. Price action looks to be forming a bottom. Risk/Reward would be poor to call a buy from current levels. A move through 1.4550 will confirm the bullish momentum.
Our profit targets will be 1.4675 and 1.4700
Resistance:...
Gold - Intraday - We look to Buy at 1773.15 (stop at 1759.10)
Although we remain bullish overall, a correction is possible with plenty of room to move lower without impacting the trend higher. We look for a temporary move lower. Support is located at 1770.00 and should stem dips to this area. Further upside is expected although we prefer to buy into dips close...
EURNZD - Intraday - We look to Sell at 1.6029 (stop at 1.6071)
Our short term bias remains negative. Preferred trade is to sell into rallies. 20 4hour EMA is at 1.6027.
Our profit targets will be 1.5931 and 1.5911
Resistance: 1.5970 / 1.6000 / 1.6030
Support: 1.5940 / 1.5900 / 1.5860
Risk Disclaimer
The trade ideas beyond this page are for informational...
The Japanese yen has started the week quietly. In the European session, USD/JPY is trading at 133.29, down 0.14%. This follows a positive week for the yen, in which USD/JPY declined by 1.15%.
Japan's GDP for the second quarter rose 0.5%. The reading was a notch below the forecast of 0.6%, and the yen showed little interest. Domestic consumption, which makes up...
EURUSD - Intraday - We look to Buy at 1.0257 (stop at 1.0195)
The rally has posted an exhaustion count on the daily chart. We look for a temporary move lower. Prices expected to stall near trend line support. Support could prove difficult to breakdown. Dip buying offers good risk/reward.
Our profit targets will be 1.0400 and 1.0450
Resistance: 1.0400 / 1.0600...
The British pound is in negative territory today, after a contraction in UK GDP. In the European session, GBP/USD is trading at 1.2126, down 0.61% on the day.
The British pound posted dazzling gains on Wednesday, surging 1.19%. The impressive climb was, however, a case of US dollar weakness, rather than any newfound strength in the pound. Inflation in the US was...
GBPUSD - Intraday - We look to Buy a break of 1.2230 (stop at 1.2170)
Price action looks to be forming a bullish flag/pennant. This is positive for short-term sentiment and we look to set longs at good risk/reward levels for further correction higher. The bias is to break to the upside. Further upside is expected, however, due to the strong resistance above we...
The British pound is trading quietly today, after posting sharp gains on Wednesday. In the North American session, GBP/USD is trading at 1.2220, up 0.02% on the day.
US inflation surprised on Wednesday, as both the CPI and the core CPI readings were lower than expected. Headline CPI dropped sharply to 8.5%, down from 9.1% in June and below the estimate of 8.7%....
GBPCHF - Intraday - We look to Sell at 1.1574 (stop at 1.1610)
We look to sell rallies. The medium term bias remains bearish. There is scope for mild buying at the open but gains should be limited. Expect trading to remain mixed and volatile.
Our profit targets will be 1.1499 and 1.1390
Resistance: 1.1580 / 1.1711 / 1.1990
Support: 1.1500 / 1.1450 /...
AUDJPY - Intraday - We look to Buy at 93.25 (stop at 92.25)
Previous support located at 94.00. Previous resistance located at 94.50. There is no clear indication that the upward move is coming to an end. Risk/Reward would be poor to call a buy from current levels. A move through 94.50 will confirm the bullish momentum.
Our profit targets will be 95.25 and...
Silver - Intraday - We look to Buy at 20.09 (stop at 19.92)
Preferred trade is to sell into rallies. There is scope for mild selling at the open but losses should be limited. Daily signals are mildly bullish. Further upside is expected although we prefer to set longs at our bespoke support levels at 20.10, resulting in improved risk/reward.
Our profit targets...
ASX200 - Intraday - We look to Buy at 6985 (stop at 6906)
6980 continues to hold back the bears. The lack of interest is a concern for bears. Preferred trade is to buy on dips. Further upside is expected.
Our profit targets will be 7157 and 7200
Resistance: 7160 / 7300 / 7630
Support: 6980 / 6800 / 6425
Risk Disclaimer
The trade ideas beyond this page are...
The British pound has surged in today's North American session. GBP/USD has jumped a massive 1.20% on the day and is trading at 1.2218.
The economic calendar is very light on both sides of the pond today, but that didn't matter as today's US inflation report has sent the US dollar on a nasty slide. The July data saw both the headline and core readings come in...
