US500 - Intraday
A Morning Doji Star formation has been posted at the low.
Posted a Bearish Outside candle on the Daily chart.
The conflicting views have resulted in the immediate outlook being hard to interpret.
Economic figures could adversley affect the short term technical picture.
A Fibonacci confluence area is located at 4563.
A break of 4420 is...
USD/JPY has posted small gains on Friday, enough to push above the symbolic 146 line. On the data calendar, Tokyo Core CPI dipped lower and Fed Chair Powell addresses the Jackson Hole Symposium later today.
Japan released the Tokyo Core CPI earlier today. This is the first inflation release of the month, making it a key event. In August, Tokyo Core CPI rose 2.8%...
AUDUSD - Intraday
Our short term bias remains negative.
There is no clear indication that the downward move is coming to an end.
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.
Bespoke resistance is located at 0.6440.
50 4hour EMA is at...
ASX200 - 24h expiry
Price action looks to be forming a top.
A Doji style candle has been posted from 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 7165 level.
We look to Sell at 7165 (stop at 7195)...
The euro has edged lower on Thursday. In the European session, EUR/USD is trading at 1.0851, down 0.11%.
On the data calendar, there are no releases from the eurozone. The US releases unemployment claims and durable goods orders and we could see some movement from EUR/USD in the North American session. On Friday, Germany releases Ifo Business Climate. The index...
GBPUSD - 24h expiry
Buying pressure from 1.2614 resulted in prices rejecting the dip.
The current move higher is expected to continue.
Indecisive price action has resulted in sideways congestion on the intraday chart.
Previous resistance located at 1.2800.
Preferred trade is to sell into rallies.
We look to Sell at 1.2789 (stop at 1.2839)
Our profit...
GBPAUD - 24h expiry
Trend line support is located at 1.9640.
There is no clear indication that the upward move is coming to an end.
We expect a reversal in this move.
Risk/Reward would be poor to call a buy from current levels.
A move through 1.9700 will confirm the bullish momentum.
We look to buy at 1.9650 with stop at 1.9590
Our profit targets will be...
The British pound has edged lower on Wednesday. In the North American session, GBP/USD is trading at 1.2720, down 0.09%.
The UK economy continues to cool down, and today's PMI readings showed deceleration in both the manufacturing and services sectors. The Manufacturing PMI eased to 42.5 in August, down from 45.3 and below the consensus estimate of 42.5. The...
GER40 - 24h expiry
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
The primary trend remains bullish.
Price action continues to trade around significant highs.
A move through bespoke resistance at 15800 and we look for extended gains.
A Doji style candle has been posted from the base.
We look to Buy a...
NZDJPY - 24h expiry
Price action has continued to trend strongly lower and has stalled at the previous support near 86.00.
The RSI is trending higher.
Dips continue to attract buyers.
Risk/Reward would be poor to call a buy from current levels.
A move through 86.75 will confirm the bullish momentum.
We look to Buy at 86.00 (stop at 85.50)
Our profit...
The New Zealand dollar has posted strong gains on Tuesday. In the European session, NZD/USD is trading at 0.5959, up 0.55%. On the data calendar, New Zealand retail sales are expected to decline by 2.6% q/q in the second quarter, compared to -1.4% in Q1.
The New Zealand dollar has gone on a dreadful slide since mid-July, falling as much as 500 basis points during...
GBPUSD - 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.
The 200 day moving average should provide resistance at 1.2829.
Preferred trade is to sell into rallies.
We look to Sell at...
NZDUSD - 24h expiry
Trading within a Bearish Channel formation.
We look for price action to stay within the channel formation today.
Our expectation now is for this swing higher to continue towards the top of the trend channel, to complete a correction before sellers return.
Risk/Reward would be poor to call a sell from current levels.
A move through 0.5900...
The Japanese yen has posted significant losses on Monday. USD/JPY is trading at 146.23 in the North American session, up 0.57% on the day. The US dollar has looked sharp and is within a whisker of pushing the yen below the 146 line, as was the case last week when the strong US dollar pushed the ailing yen to a nine-month low.
The Japanese economy was once...
EURUSD - 24h expiry
A Doji style candle has been posted from the base.
Buying posted in Asia.
The medium term bias remains bearish.
Bespoke resistance is located at 1.0933.
Previous support, now becomes resistance at 1.0929.
Preferred trade is to sell into rallies.
We look to Sell at 1.0933 (stop at 1.0963)
Our profit targets will be 1.0858 and 1.0838...
The Japanese yen has extended its gains on Friday. In the North American session, USD/JPY is trading at 145.29, down 0.38%.
The month of August has been kind to the US dollar, which has posted strong gains against all of the major currencies. USD/JPY has risen 2.34% in that period and on Thursday, the yen fell as low as 146.56, a nine-month low against the US...
US30 - Intraday
Trades at the lowest level in 22 days.
Bespoke support is located at 34396.
Posted a Double Bottom formation.
A break of 34507 is needed to confirm follow through bullish momentum.
Bespoke resistance is located at 34960.
We look to Buy a break of 34507 (stop at 34387)
Our profit targets will be 34807 and 34867
Resistance: 34507 / 34960...
FRA40 - 24h expiry
There is no indication that the selloff is coming to an end.
Short-term RSI has turned negative.
Further downside is expected.
Risk/Reward would be poor to call a sell from current levels.
A move through 7150 will confirm the bearish momentum.
We look to Sell at 7225 (stop at 7275)
Our profit targets will be 7105 and 7075
Resistance:...
