GER40 - Intraday - We look to Sell at 15484 (stop at 15564)
The bearish engulfing candle on the daily chart is negative for sentiment.
Daily signals for sentiment are at oversold extremes.
A higher correction is expected.
The trend of lower highs is located at 15510.
Prices expected to stall near trend line resistance.
Our profit targets will be 15284 and...
The Australian dollar remains under pressure and has edged lower on Tuesday. AUD/USD dropped below the 0.67 line on Monday for the first time since Jan. 3.
Australian retail sales jumped 1.9% m/m in January, following an upwardly revised 4% decline in December and beating the consensus of 1.5%. The data indicates that consumer demand remains resilient despite...
ASX200 - 24h expiry - We look to Sell at 7221 (stop at 7245)
We are trading at overbought extremes.
A Doji style candle has been posted from the high.
This is negative for sentiment and the downtrend has potential to return.
The hourly chart technicals suggests further upside before the downtrend returns.
Further downside is expected although we prefer to...
The British pound has posted sharp gains on Monday, after falling below the symbolic 1.20 level on Friday. In the European session, GBP/USD is trading at 1.2026, up 0.72%.
In the UK, the economic calendar is unusually quiet this week, with no tier-1 releases. There will be a host of BoE members speaking, including BoE member Broadbent today and Governor Bailey...
GBPCHF - Intraday - We look to Sell at 1.1300 (stop at 1.1335)
Buying pressure from 1.1195 resulted in prices rejecting the dip.
We have a 61.8% Fibonacci pullback level of 1.1298 from 1.1435 to 1.1075.
The 200 day moving average should provide resistance at 1.1250.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels...
EURNZD - Intraday - We look to Buy at 1.7091 (stop at 1.7051)
The sequence for trading is higher highs and lows.
Preferred trade is to buy on dips.
A lower correction is expected.
Bespoke support is located at 1.7100.
20 4hour EMA is at 1.7084.
Our profit targets will be 1.7191 and 1.7211
Resistance: 1.7185 / 1.7200 / 1.7240
Support: 1.7170 / 1.7140 /...
EURCHF - Intraday - We look to Buy at 0.9852 (stop at 0.9830)
Price action continued to range between key support & resistance (0.9850 - 0.9900) although we expect a break of this range soon.
A break of the recent high at 0.9907 should result in a further move higher.
Preferred trade is to buy on dips.
0.9847 has been pivotal.
Daily signals are mildly...
GER40 - Intraday - We look to Buy at 15282 (stop at 15202)
Daily signals are bullish.
The bullish engulfing candle on the 4 hour chart the positive for sentiment. Preferred trade is to buy on dips.
20 1day EMA is at 15340.
Support is located at 15300 and should stem dips to this area.
Our profit targets will be 15482 and 15522
Resistance: 15556 / 15630 /...
The Japanese yen is slightly weaker on Friday. In the European session, USD/JPY is trading just above the 135 line.
Incoming Bank of Japan Governor Kazuo Ueda appeared at a parliamentary hearing on Friday and the markets were all ears. The buzz-word from Ueda was 'continuity', which really wasn't a surprise. Ueda has already said that the current policy is...
DOW30 - Intraday - We look to Buy at 32960 (stop at 32760)
Bespoke support is located at 32960.
Bespoke support is located at 32940.
Majority of the initial daily losses being recaptured.
There is scope for mild selling at the open but losses should be limited.
A Fibonacci confluence area is located at 32960.
Our profit targets will be 33475 and 33690...
The Australian dollar has rebounded on Thursday, after a 2-day slide in which AUD/USD lost 100 points. In European trade, AUD/USD is trading at 0.6830, up 0.37%. On Wednesday, the Australian dollar fell to 0.6794, its lowest level since Jan. 6.
Australia's private capital expenditure jumped 2.2% q/q in Q4 2022, rebounding from 0.6% in Q3 and above the estimate of...
AUDUSD - Intraday - We look to Sell at 0.6885 (stop at 0.6925)
Buying pressure from 0.6794 resulted in prices rejecting the dip.
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 a tight stop in anticipation of a...
USDCHF - Intraday - We look to Buy at 0.9275 (stop at 0.9249)
Short term bias has turned positive.
The bullish engulfing candle on the daily chart is positive for sentiment.
Prices dipped lower and stalled at support in early trade.
Further buying pressure led to a reversal in price action.
We look for gains to be extended today.
Our outlook is bullish....
NIK225 - 24h expiry - We look to Sell at 27310 (stop at 27425)
Previous support level of 27266 broken.
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
We are trading at oversold extremes.
Short term bias has turned negative.
A higher correction is expected.
We therefore, prefer to fade into the rally...
The Australian dollar has extended its losses on Wednesday. In North American trade, AUD/USD is trading at 0.6824, down 0.47%.
Australian wage growth was short of the forecast, with a gain of 0.8% q/q in Q4 2020. This was down from 1.1% in Q3 and below the forecast of 1.0%. Annual wage growth rose to 3.3%, up from 3.2% but below the estimate of 3.5%. This will be...
GER40 - Intraday - We look to Sell a break of 15279 (stop at 15359)
Overbought signals and exhaustion indicators offer fair reason to sell the index but we prefer to see a break of support before fading this impressive move.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
Short term indicators have turned...
RUSS2000 - Intraday - We look to Buy at 1910 (stop at 1890)
Selling pressure from 1939 resulted in all the initial daily gains being overturned.
The current move lower is expected to continue.
The bias is still for higher levels and we look for any dips to be limited.
Previous support located at 1900.
Preferred trade is to buy on dips.
Our profit targets...
The New Zealand dollar is slightly lower on Tuesday. NZD/USD declined over 0.50% earlier but has pared most of these losses and is trading at 0.6240, down 0.20%.
The Reserve Bank of New Zealand will meet on Wednesday, its first policy meeting this year. The Bank last met in November, at which time it hiked rates by a record 75 basis points, bringing the cash rate...
