The British pound is sharply lower on Thursday. In the North American session, GBP/USD is trading at 1.2434, down 0.56% on the day. The pound fell as much as 1.1% but has pared around half of the losses.
The Bank of England (BoE) lowered interest rates by 0.25% at today’s policy meeting, bringing the bank rate to 4.5%, its lowest level since May 2023. Today's...
NZDUSD - 24h expiry
There is no clear indication that the upward move is coming to an end.
Although we remain bullish overall, a correction is possible with plenty of room to move lower without impacting the trend higher.
Risk/Reward would be poor to call a buy from current levels.
A move through 0.5700 will confirm the bullish momentum.
The measured move...
USDCHF - 24h expiry
Our short term bias remains positive.
The primary trend remains bullish.
We look to buy dips. 50
4hour EMA is at 0.9094.
Setbacks should be limited to yesterday's low.
We look to Buy at 0.9095 (stop at 0.9068)
Our profit targets will be 0.9174 and 0.9184
Resistance: 0.9131 / 0.9160 / 0.9197
Support: 0.9093 / 0.9080 / 0.9060
Risk...
NZDJPY - 24h expiry
The primary trend remains bearish.
The sequence for trading is lower lows and highs.
Preferred trade is to sell into rallies.
Risk/Reward would be poor to call a sell from current levels.
Bespoke resistance is located at 87.35.
We look to Sell at 87.35 (stop at 87.70)
Our profit targets will be 86.05 and 85.70
Resistance: 87.00 /...
The euro has weakened at the start of the new week. EUR/USD slumped over the weekend and dropped as low as 1.0141, its lowest level since Nov. 2022. The euro has recovered somewhat on Monday and is trading at 1.0277 in the North American session. Still, the euro has dropped 0.76% since Friday's close.
US President Trump hasn't wasted any time and imposed 25%...
Japan's Tokyo's core inflation rate accelerated to 2.5% y/y in January, up from 2.4% in December and in line with market expectations. This marked the highest level since February 2024 and reflects rising inflationary pressure. Tokyo CPI jumped to 3.4% y/y, its highest in almost two years, as food prices rose sharply.
Tokyo core CPI is closely monitored by Bank...
EURJPY - Intraday expiry
Price action looks to be forming a bottom.
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.
We look for a temporary move lower.
Further upside is expected although we prefer to buy into dips close to the 160.90 level.
We...
SPX500USD - 24h expiry
Price action looks to be forming a top.
A Doji style candle has been posted from the high.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower.
Further downside is expected although we prefer to sell into rallies close to the 6058 level.
Although the anticipated...
NZDUSD - 24h expiry
Pivot support is at 0.5640.
Risk/Reward would be poor to call a buy from current levels.
Short term RSI has turned positive.
A move through 0.5675 will confirm the bullish momentum.
The measured move target is 0.5750.
We look to Buy at 0.5640 (stop at 0.5610)
Our profit targets will be 0.5725 and 0.5750
Resistance: 0.5675 / 0.5700 /...
The Australian dollar is down for a third straight trading day and has declined 1.3% this week. In the North American session, AUD/USD is trading at 0.6228, down 0.37% on the day.
Australia's annual inflation rate dropped to 2.4% in the fourth quarter of 2024 from 2.8% in Q3. This was below the market estimate of 2.5% and was the lowest reading since Q1 2023....
NZDJPY - 24h expiry
The primary trend remains bearish.
The sequence for trading is lower lows and highs.
Preferred trade is to sell into rallies.
Risk/Reward would be poor to call a sell from current levels.
Bespoke resistance is located at 88.60.
We look to Sell at 88.60 (stop at 88.95)
Our profit targets will be 87.60 and 87.25
Resistance: 88.25 /...
The Australian dollar is in negative territory on Tuesday. In the North American session, AUD/USD is trading at 0.6252, down 0.62%.
Investors are keeping a closer eye on the third-quarter inflation report, which will be released early on Wednesday. CPI is expected to ease to 2.5% from 2.8%. This is the final tier-1 event prior to the Reserve Bank of Australia's...
The Australian dollar is in negative territory on Monday. In the North American session, AUD/USD is trading at 0.6276, down 0.59%. The Australian dollar is coming off its best weekly performance since Nov. 2023, gaining 2% against the US dollar.
China's services and manufacturing sectors both decelerated in January and missed expectations. The non-manufacturing...
DE30EUR - 24h expiry
We are trading at overbought extremes.
A higher correction is expected.
Short term momentum is bearish.
Short term oscillators have turned negative.
Offers ample risk/reward to sell at the market.
A break of the recent low at 21166 should result in a further move lower.
We look for losses to be extended today.
We look to Sell at 21249...
The Japanese yen gained as much as 0.8% earlier today but has failed to consolidate these gains. In the European session, USD/JPY is trading at 156.03, dwon 0.02% on the day.
The Bank of Japan hiked its policy rate by 25 basis points earlier today, as expected. This brings the policy rate to 0.5%, its highest level since October 2008, during the global financial...
US500 - 24h expiry
Price action continues to trade around the all-time highs.
Previous resistance located at 6102.
A 5 wave bullish count has been completed at 6107.
There is scope for mild buying at the open but gains should be limited.
Further downside is expected and we prefer to set shorts in early trade.
We look to Sell at 6102 (stop at 6147)
Our...
The Japanese yen is slightly lower on Thursday. In the European session, USD/JPY is trading at 156.25, down 0.16% on the day.
All eyes are on the Bank of Japan, which meets early on Friday. The BoJ is expected to raise interest rates by 25 basis points which would bring the cash rate to 0.50%. The BoJ has said that it will raise rates if it sees higher wage...
CHN50 - 24h expiry
Price action has continued to trend strongly lower and has stalled at the previous support near 12800.
We expect a reversal in this move.
Risk/Reward would be poor to call a buy from current levels.
A move through 12900 will confirm the bullish momentum.
The measured move target is 13100.
We look to Buy at 12800 (stop at 12700)
Our...
