FR40EUR - Intraday
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 8100 will confirm the bullish momentum.
The measured move target is 8150.
We look to Buy at 8025 (stop at 7975)
Our...
The Japanese yen is swinging sharply on Friday. In the European session, USD/JPY is trading at 156.46, up 0.52%.
It has been a busy Friday in Japan. Japanese inflation data, which was released just before the end of the Bank of Japan meeting, was much lower than expected. Tokyo Core CPI, which was overshadowed by the Bank of Japan’s meeting today, eased to 1.6%...
NZDUSD - 24h expiry
Price action looks to be forming a bottom.
Price action has continued to trend strongly lower and has stalled at the previous support near 0.5900.
Further upside is expected.
A move through 0.5950 will confirm the bullish momentum.
The measured move target is 0.6000.
We look to Buy at 0.5920 (stop at 0.5892)
Our profit targets will be...
EURNZD - 24h expiry
Bespoke support is located at 1.8000.
A lower correction is expected.
We look to buy dips.
Expect trading to remain mixed and volatile.
Daily signals are mildly bullish.
We look to Buy at 1.7995 (stop at 1.7955)
Our profit targets will be 1.8095 and 1.8125
Resistance: 1.8050 / 1.8090 / 1.8109
Support: 1.8000 / 1.7980 / 1.7935
Risk...
The Japanese yen continues to lose ground on Thursday. In the European session USD/JPY is trading at 155.61, up 0.17%. Earlier, the yen dropped to a 34-year low of 155.74.
Friday will be a busy day out of Japan. Tokyo Core CPI, which excludes food, is a key leading indicator of nationwide inflation trends. It is expected to drop to 2.2% in April, down from 2.4% in...
GBPAUD - 24h expiry
The medium term bias remains bearish.
A higher correction is expected.
Bullish divergence is expected to support prices.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 1.9220.
We look to Sell at 1.9220 (stop at 1.9270)
Our profit targets will be 1.9100 and 1.9070
Resistance: 1.9220 / 1.9260 / 1.9315
Support:...
The Australian dollar has edged higher on Wednesday. In the European session, AUD/USD is trading at 0.6504, up 0.27%. The Australian dollar rose as high as 0.6529 (0.64%) after the Australian inflation release but has pared about half of those gains.
Australia’s inflation rate slowed less than expected in the first quarter. Inflation rose 3.6% y/y in Q1, down...
GER40 - 24h expiry
Yesterday's Marabuzo is located at 18065.
Short term bias has turned positive.
Risk/Reward would be poor to call a buy from current levels.
The primary trend remains bullish.
Preferred trade is to buy on dips.
We look to Buy at 18065 (stop at 17965)
Our profit targets will be 18315 and 18395
Resistance: 18234 / 18300 / 18400
Support:...
NZDUSD - 24h expiry
Price action looks to be forming a bottom.
Price action has continued to trend strongly lower and has stalled at the previous support near 0.5875.
A move through 0.5925 will confirm the bullish momentum.
The measured move target is 0.6000.
The RSI is trending higher.
We look to Buy at 0.5925 (stop at 0.5895)
Our profit targets will be...
NIK225 - 24h expiry
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
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 move back lower.
Weekly pivot is at 37771.
We look to Sell at 37805 (stop at 38125)...
Palladium - 24h expiry
Selling was posted yesterday but levels close to bespoke support of 1000 have found buyers.
1000.2 has been pivotal.
We look to buy dips.
Daily signals are mildly bullish.
The bullish engulfing candle on the 4 hour chart the positive for sentiment.
We look to Buy at 1005.5 (stop at 985.5)
Our profit targets will be 1055.5 and 1065.5...
The Japanese yen showed some promise earlier, gaining as much as 0.48% against the US dollar as it rose to 153.59. However, it has pared those gains and is trading in Europe at 154.58, down 0.04%.
Japan’s nationwide CPI, which excludes fresh food, rose 2.6% y/y in March, down from 2.8% in February but higher than the market estimate of 2.7%. Core CPI has now...
NZDUSD - 24h expiry
Price action looks to be forming a bottom.
Short term RSI has turned positive.
A move through 0.5950 will confirm the bullish momentum.
The measured move target is 0.5975.
Pivot support is at 0.5875.
We look to Buy at 0.5900 (stop at 0.5872)
Our profit targets will be 0.5970 and 0.5985
Resistance: 0.5950 / 0.5970 / 0.5975
Support:...
The British pound is having a quiet week and that trend has continued on Thursday . In the North American session, GBP/USD is trading at 1.2450, down 0.04%.
The UK release retail sales for March on Friday. The market forecast for March is 0.7% y/y after a decline of 0.4% y/y in February. Today’s British Retail Consortium retail sales index jumped 3.5% y/y in...
GER40 - 24h expiry
Price action looks to be forming a bottom.
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
The primary trend remains bullish.
50 1day EMA is at 17765.
A Doji style candle has been posted from the base.
The corrective cycle lower looks to have stalled.
We look to Buy at 17830 (stop at...
The Australian dollar has stabilized on Wednesday, after a 2.2% decline over the past three days. In the North American session, AUD/USD is trading at 0.62254, up 0.37% but remains close to five-month lows.
Australia’s employment is expected to post a small gain of 7,200 in March after a blowout gain of 116,500 in February. The unemployment rate is expected to...
EURNZD - 24h expiry
Short term bias has turned positive.
Posted a Double Bottom formation.
Offers ample risk/reward to buy at the market.
Daily signals are bullish.
Previous resistance at 1.7970 now becomes support.
We look to Buy at 1.7975 (stop at 1.7939)
Our profit targets will be 1.8065 and 1.8095
Resistance: 1.8000 / 1.8045 / 1.8090
Support: 1.7978...
NZDUSD - 24h expiry
Daily signals are bearish.
Preferred trade is to sell into rallies.
Our outlook is bearish.
We look for a temporary move higher.
20 4hour EMA is at 0.5932.
The lack of interest is a concern for bulls.
We look to Sell at 0.5930 (stop at 0.5956)
Our profit targets will be 0.5865 and 0.5850
Resistance: 0.5896 / 0.5920 / 0.5935
Support:...
