HS50 - 24h expiry - We look to Sell at 19820 (stop at 20150)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
A higher correction is expected.
The medium term bias remains bearish.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Further downside is...
The euro has posted sharp gains at the start of the week, extending its rally against a retreating US dollar. In the North American session, EUR/USD is trading at 1.0740, up 0.95% and its highest level since February 15.
Perhaps it is fitting that today's economic calendar has no US or European releases, allowing investors to focus their full attention on the...
GER40 - Intraday -
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.
The bullish engulfing candle on the 4 hour chart the positive for sentiment.
We look to buy dips.
Support is located at 15290 and should stem dips...
EURNZD - Intraday -
Our short term bias remains positive.
There is no clear indication that the upward move is coming to an end.
We are trading at overbought extremes.
Trend line support is located at 1.7220.
50 4 hour EMA is at 1.7224.
We look to buy dips.
We look to Buy at 1.7224 (stop at 1.7184)
Our profit targets will be 1.7324 and 1.7344...
RUSS2000 - Intraday - We look to Sell at 1855 (stop at 1875)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
Price action looks to be forming a bottom.
A higher correction is expected.
Our short term bias remains negative.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a...
FRA40 - Intraday - We look to Sell at 7300 (stop at 7400)
Previous support located at 7150.
Previous resistance located at 7250.
Price action looks to be forming a top.
We expect a reversal in this move.
Risk/Reward would be poor to call a sell from current levels.
A move through 7150 will confirm the bearish momentum.
Our profit targets will be 7100 and...
The Japanese yen is trading at 1.36.83 in the European session, down 0.52%. USD/JPY fell 0.90% on Thursday but has recovered much of those losses today.
Bank of Japan Governor Kuroda didn't fire any final shots at his final meeting today. The BoJ maintained interest rates at -0.1%, where they have been pegged since 2016, and didn't make any changes to its to...
EURNZD - Intraday -
Daily signals are bullish.
Our bespoke resistance of 1.7270 has been clearly broken.
Previous resistance at 1.7270 now becomes support.
20 4hour EMA is at 1.7264.
We look to buy dips.
We look to Buy at 1.7266 (stop at 1.7226)
Our profit targets will be 1.7366 and 1.7386
Resistance: 1.7377 / 1.7400 / 1.7440
Support: 1.7340 / 1.7270 /...
HS50 - 24h expiry - We look to Sell a break of 19635 (stop at 19860)
Selling posted in Asia.
Selling pressure dominated price action yesterday and we expect this to continue today.
Previous support located at 19635.
The medium term bias remains bearish.
Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 19635,...
GBPUSD - Intraday - We look to Sell at 1.1935 (stop at 1.1985)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
We are trading at oversold extremes.
A higher correction is expected.
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...
Palladium - Intraday -
We are trading at oversold extremes.
Daily signals are bearish.
There is no indication that the selloff is coming to an end.
Previous support at 1405 now becomes resistance.
We look for a temporary move higher.
50 4hour EMA is at 1408.
We look to Sell at 1403.4 (stop at 1427.3)
Our profit targets will be 1343.3 and 1333.3...
ASX200 - 24h expiry - We look to Sell at 7373 (stop at 7409)
Buying pressure from 7264 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...
NASDAQ - Intraday - We look to Buy at 12031 (stop at 11951)
Continued downward momentum from 12455 resulted in the pair posting net daily losses yesterday.
Buying posted in Asia.
Intraday, and we are between bespoke support and resistance 12021-12238.
We are trading at oversold extremes.
Dips continue to attract buyers.
Our profit targets will be 12231 and...
GER40 - Intraday
Bearish divergence can be seen on the daily chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower.
The bearish engulfing candle on the daily chart is negative for sentiment.
Short term momentum is bearish.
50 4hour EMA is at 15490.
We look...
GBPAUD - 24h expiry - We look to Buy at 1.7875 (stop at 1.7815)
Previous support located at 1.7900.
Previous resistance located at 1.8000.
Price action has stalled at good resistance levels and currently trades just below here (1.8000).
A lower correction is expected.
Dips continue to attract buyers.
A move through 1.8000 will confirm the bullish momentum....
USD/CHF has rebounded on Tuesday, ending a rally that saw the Swiss franc climb over 1%. In the European session, USD/CHF is trading at 0.9344, up 0.40%.
Switzerland released the February inflation report on Monday and the reading was higher than expected. CPI rose 0.7% m/m, up from 0.6% in February and above the 0.4% forecast. On an annualized basis, CPI climbed...
USDCHF - Intraday - We look to Sell at 0.9348 (stop at 0.9375)
Short term bias has turned negative.
Our bespoke support of 0.9341 has been clearly broken.
Previous support at 0.9340 now becomes resistance.
50 4hour EMA is at 0.9350.
20 4hour EMA is at 0.9349.
Preferred trade is to sell into rallies.
Our profit targets will be 0.9281 and 0.9271...
GER40 - Intraday
Broken out of the channel formation to the upside.
Trades at the highest level in 13 months.
Price action continues to trade around the all-time highs.
A lower correction is expected.
20 4 hour EMA is at 15525.
We look to buy dips.
We look to Buy at 15525 (stop at 15445)
Our profit targets will be 15725 and 15755
Resistance: 15680 /...
