The Canadian dollar is showing little movement on Tuesday. In the European session, USD/CAD is trading at 1.3382, down 0.13%. We could see stronger movement from the Canadian dollar in the North American session, with the release of the Canadian inflation report.
Canada releases the November inflation report later on Tuesday. In October, inflation dropped to 3.1%...
Brent - 24 expiry
The rally was sold and the dip bought resulting in mild net gains yesterday.
Intraday, and we are between bespoke support and resistance 73.72-81.78.
Immediate signals are hard to interpret.
Previous resistance, now becomes support at 77.40.
There is no clear indication that the upward move is coming to an end.
We look to Buy at 77.40...
NZDUSD - 24h expiry
Indecisive price action has resulted in sideways congestion on the intraday chart.
Momentum is flat, highlighting the lack of clear direction.
Risk/Reward would be poor to call a buy from current levels.
A move through 0.6225 will confirm the bullish momentum.
The measured move target is 0.6280.
We look to Buy at 0.6200 (stop at...
The Japanese yen is lower at the start of the week. In the European session, USD/JPY is trading at 142.77, up 0.44%.
The yen continues to power higher and surged 1.9% last week. It marked a fifth straight winning week for the yen, which has climbed 6.2% during that time. The yen strengthened to 140.95 on Friday, its highest level since July 31.
Bank of Japan...
GER40 - 24h expiry
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
Current prices have reacted from a low of 16662, however, we expect further losses to follow.
Price action resulted in a new all-time high at 17004.
An Evening Doji Star formation has been posted at the high.
A break of the recent low at...
US500 - Intraday
Price action continues to trade around the all-time highs.
There is no indication that the rally is coming to an end.
A break of the recent high at 4744 should result in a further move higher.
Short-term momentum is bullish.
We look for gains to be extended today.
We look to Buy a break of 4746 (stop at 4720)
Our profit targets will be...
GBPJPY - Intraday
Posted a Bullish Hammer Bottom on the Daily chart.
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.
Although the anticipated move higher is corrective, it does offer ample risk/reward today.
Further upside is expected although we...
The euro has snapped a four-day winning streak on Friday. In the European session, EUR/USD is trading at 1.0949, down 0.38%. The euro has enjoyed a strong week, with gains of 1.77%.
Eurozone Services PMI eased in December, indicating that the economy continues to struggle. The PMI fell from 48.7 to 48.1 and missed the consensus estimate of 49.0. This marked a...
The euro has extended its gains in Thursday trading. In the European session, EUR/USD is trading at 1.0925, up 0.45%. It has been a good week for the euro, which has climbed 1.5% against the US dollar.
The European Central Bank meets later on Wednesday and is widely expected to hold rates at 4.0% for a second straight time. The markets will be focusing on the...
EURGBP - 24h expiry
We are trading at overbought extremes.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
This is negative for sentiment and the downtrend has potential to return.
Bespoke resistance is located at 0.8630.
Preferred trade is to sell into rallies.
We look to Sell at 0.8630 (stop at 0.8658)...
CN50USD - 24h expiry
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
Posted a Bullish Hammer Bottom on the 4 hour chart.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
Although the anticipated move higher is corrective, it does...
The New Zealand dollar is sharply lower in Wednesday trade. In the European session, NZD/USD is trading at 0.6095, down 0.61%.
US inflation ticked lower in October as expected and the release was a non-event for the markets, which slightly reduced their rate-cut pricing. Headline CPI climbed 3.1% year-on-year in November, down from 3.2% in October and in line...
UK100 - 24h expiry
There is no clear indication that the upward move is coming to an end.
The trend of higher lows is located at 7400.
Risk/Reward would be poor to call a buy from current levels.
A move through 7575 will confirm the bullish momentum.
The measured move target is 7620.
We look to Buy at 7545 (stop at 7505)
Our profit targets will be 7645...
NZDJPY - 24h expiry
Indecisive price action has resulted in sideways congestion on the intraday chart.
Further upside is expected.
RSI (relative strength indicator) is flat and reading close to 50 (mid-point) highlighting the fact that we are non- trending.
Risk/Reward would be poor to call a buy from current levels.
A move through 89.50 will confirm the...
EURCHF - 24h expiry
There is no clear indication that the downward move is coming to an end.
Bespoke resistance is located at 0.9475.
50 4hour EMA is at 0.9480.
We look for a temporary move higher.
The lack of interest is a concern for bulls.
We look to Sell at 0.9475 (stop at 0.9499)
Our profit targets will be 0.9415 and 0.9405
Resistance: 0.9450 /...
The British pound is drifting on Tuesday. In the European session, GBP/USD is trading at 1.2551, down 0.04%.
Tuesday's UK employment report was notable for the decline in wage growth. Earnings excluding bonuses rose 7.3% in the three months to October, down from 7.8% in the three months to September. This was lower than the consensus estimate of 7.4%.
Wage...
The British pound is showing little movement at the start of the week. In Monday's European session, GBP/USD is trading at 1.2576, up 0.22%.
It's a busy week for UK releases which could translate into volatility from the British pound. The UK releases employment data on Tuesday, GDP on Wednesday, followed by the Bank of England rate decision on Thursday.
The UK...
GER40 - 24h expiry
Price action resulted in a new all-time high at 16823.
There is no indication that the rally is coming to an end.
Yesterday's Marabuzo is located at 16715.
Preferred trade is to buy on dips. Our outlook is bullish.
We look to Buy at 16715 (stop at 16615)
Our profit targets will be 16965 and 17025
Resistance: 16823 / 16900 /...
