USDCHF - 24h expiry
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible. Bullish divergence can be seen on the daily (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.
A bullish reverse Head and Shoulders has...
The Australian dollar continues to takes traders on a roller-coaster. AUD/USD has surged 0.85% on Monday, recovering most of the 1% decline on Friday. In the European session, the Australian dollar is trading at 0.6443 at the time of writing.
The week ended with a rebound from US nonfarm payrolls. In November, nonfarm payrolls climbed by 227 thousand, above the...
The euro is steady on Friday after jumping 0.7% a day earlier. In the European session, EUR/USD is trading at 1.0581, down 0.06% at the time of writing.
The eurozone wraps up the week with the GDP and job growth reports and the market is expecting an improvement. Third-quarter GDP is expected to improve to 0.4% q/q from o.2% in the second quarter. Job growth if...
GBPAUD - 24h expiry
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
The hourly chart technicals suggests further upside before the downtrend returns.
Risk/Reward would be poor to call a sell from current levels.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 1.9850.
We look to...
The British pound has extended its gains for a third straight trading day. In the North American session, GBP/USD is trading at 1.2757, up 0.45% on the day.
The UK Construction sector rose to 55.2 in November, up from 54.3 in October and above the market estimate of 53.4. This indicates strong expansion but the report contained mixed figures. Commercial work...
GBPUSD - 24h expiry
The primary trend remains bearish.
The rally is close to a correction count on the intraday chart.
Risk/Reward would be poor to call a sell from current levels.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 1.2735.
We look to Sell at 1.2735 (stop at 1.2765)
Our profit targets will be 1.2645 and 1.2620...
HS50 - 24h expiry
Price action looks to be forming a bottom.
A Doji style candle has been posted from the high.
A lower correction is expected.
Short term bias is mildly bullish.
Preferred trade is to buy on dips.
Economic figures could adversley affect the short term technical picture.
We look to Buy at 19480 (stop at 19280)
Our profit targets will be...
EURJPY - 24h expiry
Buying pressure from 156.17 resulted in prices rejecting the dip.
The current move higher is expected to continue.
The bias is still for lower levels and we look for any gains to be limited.
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...
The Australian dollar has taken a tumble on Wednesday. In the European session, AUD/USD is trading at 0.6416, down 1.1% on the day at the time of writing. Earlier, the Australian dollar dropped as low as 0.6407, its lowest level since August 5.
Australia’s GDP report was a disappointment, falling short of expectations. GDP rose 0.3% q/q in the third quarter,...
ASX200 - 24h expiry
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
A lower correction is expected.
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
Preferred trade is to buy on dips.
Economic figures could adversley affect the...
The Australian dollar is drifting on Tuesday. In the North American session, AUD/USD is trading at 0.6461, down 0.20% on the day at the time of writing.
Australia’s economy is expected to improve in the third quarter, with a market estimate of 0.4% q/q. This follows a disappointing gain of 0.2% in Q2, the weakest growth in five quarters, as household spending...
EURNZD - 24h expiry
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.
Preferred trade is to sell into rallies.
50 4hour EMA is at 1.7888.
Risk/Reward would be poor to call a sell from current levels.
We look to Sell at 1.7885 (stop at 1.7945)...
NZDUSD - 24h expiry
The medium term bias remains bearish.
The rally has posted a correction count on the daily chart.
Risk/Reward would be poor to call a sell from current levels.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 0.5900.
We look to Sell at 0.5905 (stop at 0.5929)
Our profit targets will be 0.5845 and 0.5830...
The Japanese yen is lower on Monday. In the European session, USD/JPY is trading at 150.03, up 0.26% on the day.
Bank of Japan Governor Ueda has been hinting about a rate hike and gave what was perhaps his strongest hint on Friday. In a newspaper interview, Ueda said that interest rate hikes are “nearing in the sense that economic data are on track”. Ueda also...
USDCHF - 24h expiry
Daily signals are bullish.
20 1day EMA is at 0.8806.
The overnight dip has been bought into and there is scope for further bullish pressure going into this morning.
We look to buy dips.
Our outlook is bullish.
Support is located at 0.8800 and should stem dips to this area.
We look to Buy at 0.8806 (stop at 0.8778)
Our profit targets...
The Japanese yen has surged higher on Friday after a strong inflation release. In the European session, USD/JPY is trading at 150.19, down 0.87% on the day. Earlier, the yen has broken below the symbolic 150 level for the first time since Oct. 21.
Tokyo Core CPI, a key inflation indicator which excludes fresh food and energy, rose 2.2% in November, above market...
GBPUSD - 24h expiry
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
A higher correction is expected.
Intraday signals are mixed.
Preferred trade is to buy on dips.
Bespoke support is located at 1.2610.
We look to Buy at 1.2610 (stop at 1.2565)
Our profit targets will be 1.2745 and 1.2800
Resistance:...
The Japanese yen is lower on Thursday, after climbing 2.4% over the past two trading sessions. In the European session, USD/JPY is trading at 151.83, up 0.57% on the day. On the data calendar, Japan releases Tokyo Core CPI. In the US, the financial markets are closed for the Thanksgiving holiday and there are no US events.
Tokyo Core CPI, a leading indicator of...
