EURUSD
Bias: Bearish
We look to Sell at 1.1242 with target prices of 1.1104 and 1.1075, and a stop price of 1.1302
Confidence: 80%
Technical Analysis
- The sequence for trading is lower lows and highs
- Our outlook is bearish
- A firmer opening is expected to challenge bearish resolve
- Resistance is located at 1.1250 and should cap gains to this area
- We look to sell rallies
GBPUSD
Bias: Bearish
We look to Sell at 1.3440 with target prices of 1.3325 and 1.3300, and a stop price of 1.3480
Confidence: 60%
Technical Analysis
- the bulls are in control, the stalling positive momentum indicates a turnaround is possible
- We are trading at overbought extremes
- The bias is still for lower levels and we look for any gains to be limited
- This is negative for sentiment and the downtrend has potential to return
- Preferred trade is to sell into rallies
USDJPY
Bias: Bearish
We look to Sell at 115.55 with target prices of 115.00 and 114.75, and a stop price of 115.79
Confidence: 20%
Technical Analysis
- A bearish Head and Shoulders is forming
- This is negative for sentiment and the downtrend has potential to return
- There is scope for mild buying at the open but gains should be limited
- Preferred trade is to sell into rallies
GOLD
Bias: Bullish
We look to Buy at 1883 with target prices of 1960 and 1980, and a stop price of 1850
Confidence: 100%
Technical Analysis
- The medium term bias remains bullish
- There is scope for mild selling at the open but losses should be limited
- Support is located at 1880 and should stem dips to this area
- Dip buying offers good risk/reward
- News events could adversely affect the short term technical picture
GER40
Bias: Bearish
We look to Sell at 14569 with target prices of 14313 and 14263, and a stop price of 14666
Confidence: 60%
Technical Analysis
- Daily signals are bearish
- Short term bias is bearish
- 50 4hour EMA is at 14574
- We look for a temporary move higher
AUDUSD
Bias: Bullish
We look to Buy at 0.7201 with target prices of 0.7299 and 0.7325, and a stop price of 0.7157
Confidence: 20%
Technical Analysis
- A bearish Head and Shoulders is forming
- Following yesterday’s bullish candle, the overall trend higher looks set to continue today
- We look for a temporary move lower
- Support is located at 0.7200 and should stem dips to this area
- Further upside is expected although we prefer to buy into dips close to the 0.7200 level
WTI
Bias: Bullish
We look to Buy at 94.13 with target prices of 98.96 and 99.50, and a stop price of 91.88
Confidence: 80%
Technical Analysis
- The primary trend remains bullish
- Buying pressure from 94.00 resulted in prices rejecting the dip
- Further upside is expected
- Preferred trade is to buy on dips