The British is in positive territory on Friday. GBP/USD is trading at 1.2555, up 0.16% at the time of writing.
The service sector accelerated in April, as the Services PMI rose to 55.0, up from 53.1 in April. This was the strongest level since May 2023 and services has shown growth for six straight months, with readings above the 50 level. The PMI survey noted...
GBPAUD - 24h expiry
The medium term bias remains bearish.
The sequence for trading is lower lows and highs.
Bullish divergence is expected to support prices.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 1.9250.
We look to Sell at 1.9220 (stop at 1.9270)
Our profit targets will be 1.9100 and 1.9070
Resistance: 1.9150 / 1.9250...
GBPUSD - 24h expiry
The primary trend remains bearish.
Price action looks to be forming a top.
Bearish divergence is expected to cap gains.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 1.2560.
We look to Sell at 1.2560 (stop at 1.2596)
Our profit targets will be 1.2470 and 1.2430
Resistance: 1.2560 / 1.2590 / 1.2630
Support:...
It has been a remarkable week for the yen, which has exhibited sharp swings throughout the week.
The Japanese yen fell as much as 1% earlier and on Thursday but has pared most of those losses. USD/JPY has risen 0.38% to 155.19 at the time of writing.
Japan suspected of intervention
In the Asian session, the yen fell as low as 157.55 but then recovered to...
JP225YJPY - 24h expiry
Price action looks to be forming a bottom.
Short term bias is mildly bullish.
Preferred trade is to buy on dips.
The hourly chart technicals suggests further upside before the downtrend returns.
Further upside is expected although we prefer to buy into dips close to the 37830 level.
We look to Buy at 37830 (stop at 37530)
Our profit...
The Australian dollar has steadied on Wednesday after sliding 1.4% a day earlier. AUD/USD is up 0.19%, trading at 0.6489 at the time of writing in the North American session.
Australian dollar slides after soft retail sales
Retail sales in Australia fell 0.4% m/m in March, following a downwardly revised 0.2% gain in February and shy of the market estimate of...
GBPCHF - 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 short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower.
Preferred trade is to sell into rallies.
We look for a temporary move...
CHN50 - 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 12550 will confirm the bullish momentum.
The measured move...
The Japanese yen is lower on Tuesday. In the European session, USD/JPY is trading at 156.88, up 0.34%.
It has been a relatively quiet day for the yen after massive movement over the past two days. On Friday dollar-yen jumped 1.7% and broke above 158, but the real drama unfolded on Monday, when the yen went on a wild ride that saw it swing more than 550 basis...
USDCAD - 24h expiry
Price action looks to be forming a bottom.
Short term RSI has turned positive.
We expect a reversal in this move.
A move through 1.3700 will confirm the bullish momentum.
The measured move target is 1.3750.
Our profit targets will be 1.3750 and 1.3775
Resistance: 1.3700 / 1.3725 / 1.3750
Support: 1.3675 / 1.3650 / 1.3625
Risk...
AU200AUD - 24h expiry
Price action looks to be forming a bottom.
Short term RSI is moving higher.
Further upside is expected.
Risk/Reward would be poor to call a buy from current levels.
A move through 7650 will confirm the bullish momentum.
We look to Buy at 7600 (stop at 7560)
Our profit targets will be 7700 and 7725
Resistance: 7650 / 7675 /...
DE30EUR - 24h expiry
Buying continued from the 38.2% pullback level of 17870.
Levels close to the 50% pullback level of 18066 found buyers.
Preferred trade is to buy on dips.
The primary trend remains bullish.
Our outlook is bullish.
We look to Buy at 18075 (stop at 17975)
Our profit targets will be 18325 and 18395
Resistance: 18240 / 18330 /...
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:...
