EURNZD - 24h expiry
The primary trend remains bullish. Dips continue to attract buyers. Dip buying offers good risk/reward. 20 1day EMA is at 1.8353. We look for a temporary move lower.
We look to Buy at 1.8355 (stop at 1.8295)
Our profit targets will be 1.8505 and 1.8535
Resistance: 1.8340 / 1.8481 / 1.8500
Support: 1.8368 / 1.8350 / 1.8280
Risk...
The Canadian dollar started the week with strong gains but has shown little movement since then. In the European session, USD/CAD is trading at 1.4411, up 0.12% at the time of writing. We could see stronger movement from the Canadian dollar in the North American session, with the release of Canadian and US employment reports.
Canada's economy may not be in great...
GBPUSD - Intraday
The primary trend remains bearish.
Bullish divergence is expected to support prices.
We look for a temporary move higher.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 1.2350.
We look to Sell at 1.2350 (stop at 1.2380)
Our profit targets will be 1.2245 and 1.2225
Resistance: 1.2320 / 1.2360 / 1.2400
Support:...
EURAUD - 24h expiry
The medium term bias remains bearish.
A higher correction is expected.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 1.6680.
The hourly chart technicals suggests further upside before the downtrend returns.
We look to Sell at 1.6680 (stop at 1.6730)
Our profit targets will be 1.6540 and 1.6510
Resistance:...
The British pound is on a nasty slide and has lost 1.8% since Monday. In the European session, GBP/USD is currently trading at 1.2294, down 0.53%. Earlier, the pound fell as low as 1.2237 (1%), it lowest level since Nov. 2023.
The latest setback for the pound was Thursday's British Retail Consortium (BRC) Shop Price index, which came in at -1% in December, lower...
NZDJPY - 24h expiry
The primary trend remains bearish.
Price action looks to be forming a top.
Preferred trade is to sell into rallies.
The hourly chart technicals suggests further upside before the downtrend returns.
Bespoke resistance is located at 89.00.
We look to Sell at 89.00 (stop at 89.25)
Our profit targets will be 88.40 and 88.20
Resistance:...
The Australian dollar is lower for a second straight trading day. In the North American session, AUD/USD is trading at 0.6214, down 0.27% at the time of writing. The Australian dollar dropped as low as 0.60% but has pared much of those losses.
Australia's inflation report was a mixed bag in November. Headline inflation rose 2.3% y/y, up from 2.1% in the previous...
EURGBP - 24h expiry
The primary trend remains bearish.
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.
The bearish engulfing candle on the 4 hour chart is negative for sentiment.
50 1day EMA is at 0.8310....
CHN50 - 24h expiry
There is no clear indication that the downward move is coming to an end.
A higher correction is expected.
Risk/Reward would be poor to call a sell from current levels.
A move through 13000 will confirm the bearish momentum.
The measured move target is 12750.
We look to Sell at 13200 (stop at 13400)
Our profit targets will be 12800 and...
The Swiss franc is higher for a third straight trading day. In the European session, USD/CHF is currently trading at 0.9038, down 0.09% on the day.
Switzerland's inflation rate continues to fall and that is raising concerns at the Swiss National Bank. Other central banks are worried about the upside risk of inflation but the SNB is worried about inflation...
NZDUSD - 24h expiry
Price action looks to be forming a top.
An Evening Star formation has been posted at the high.
This is negative for sentiment and the downtrend has potential to return.
We look for a temporary move higher.
Further downside is expected although we prefer to sell into rallies close to the 0.5657 level.
We look to Sell at 0.5657 (stop at...
The euro has started the week with sharp gains. In the European session, EUR/USD is currently trading at 1.0403, up 0.91% on the day.
Germany's economy may not be in great shape. but inflation has been moving higher and the trend is expected to continue when December CPI is released later today. Inflation rose from 2% to 2.2% in November, its highest level in...
EURNZD - 24h expiry
Short term bias has turned negative.
We are trading at overbought extremes.
Preferred trade is to sell into rallies.
Risk/Reward would be poor to call a sell from current levels.
50 4hour EMA is at 1.8398.
Previous support at 1.8400 now becomes resistance.
We look to Sell at 1.8389 (stop at 1.8445)
Our profit targets will be 1.8249 and...
The euro has stabilized on Friday. In the European session, EUR/USD is currently trading at 1.0296, up 0.3% on the day. The euro fell as much as 1.2% a day earlier and fell below the 1.03 line for the first time since Nov. 2022.
The eurozone economy wasn't exactly on fire in 2024. The Ukraine-Russia war led to increases in gas and oil prices, millions of war...
AUDUSD - 24h expiry
Broken out of the channel formation to the downside.
Trades at the lowest level in 26-months.
Buying posted in Asia.
Bespoke resistance is located at 0.6246.
The previous swing high is located at 0.6246.
We look to Sell at 0.6246 (stop at 0.6276)
Our profit targets will be 0.6166 and 0.6146
Resistance: 0.6246 / 0.6271 /...
As the global markets reopen have the New Years' Day, Japanese markets are closed for a holiday. It's a very light economic calendar today, with no Japanese releases and only one US tier event - unemployment claims. In the European session, USD/JPY is currently trading at 157.12, down 0.12% on the day. We can expect a quiet day for the yen.
December was...
USDCHF - 24h expiry
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
Our short term bias remains positive.
There is no clear indication that the upward move is coming to an end.
Offers ample risk/reward to buy at the market.
20 4hour EMA is at 0.9000.
We look to Buy at 0.9001 (stop...
The Japanese yen is showing little movement on Christmas Day. Japanese markets are open but with most global markets closed for the holiday, the currency markets will be very quiet today. In the European session, USD/JPY is trading at 157.29, up 0.08% on the day.
Japanese inflation indicators have been heading higher and the upswing was repeated on Wednesday as...
