EURUSD
Bias: Bearish
We look to Sell at 1.1051 with target prices of 1.0835 and 1.0800, and a stop price of 1.1124
Confidence: 60%
Technical Analysis
- The medium term bias remains bearish
- Trading has been mixed and volatile
- There is scope for mild buying at the open but gains should be limited
- Bespoke resistance is located at 1.1051
- Preferred trade is to sell into rallies
GBPUSD
Bias: Bearish
We look to Sell at 1.3180 with target prices of 1.2965 and 1.2800, and a stop price of 1.3255
Confidence: 60%
Technical Analysis
- Buying pressure from 1.3000 resulted in prices rejecting the dip
- The current move higher is expected to continue
- 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 move back lower
USDJPY
Bias: Bullish
We look to Buy at 117.70 with target prices of 118.45 and 119.00, and a stop price of 117.45
Confidence: 80%
Technical Analysis
- Prices have continued the bullish move higher and resulted in 7 consecutive positive days
- Trades at the highest level in 62 months
- This over-extended move shows no sign of slowing
- Further upside is expected, however, due to the strong resistance above we prefer to buy a break of 117.70, which will confirm the bullish sentiment
GOLD
Bias: Bullish
We look to Buy at 1878 with target prices of 1946 and 1961, and a stop price of 1857
Confidence: 80%
Technical Analysis
- Preferred trade is to buy on dips
- 50 1day EMA is at 1887
- Previous support located at 1875
- The medium term bias remains bearish
GER40
Bias: Bearish
We look to Sell at 14448 with target prices of 14151 and 14081, and a stop price of 14561
Confidence: 60%
Technical Analysis
- Short term bias has turned positive
- We look for a temporary move higher
- Daily signals are bullish
- Preferred trade is to sell into rallies
- 50 1day EMA is at 14500
AUDUSD
Bias: Bearish
We look to Sell at 0.7258 with target prices of 0.7166 and 0.7146, and a stop price of 0.7287
Confidence: 60%
Technical Analysis
- Previous support at 0.7258 now becomes resistance
- 50 4hour EMA is at 0.7263
- We have a 50% Fibonacci pullback level of 0.7266 from 0.7367 to 0.7165
- The bias is still for lower levels and we look for any gains to be limited
WTI
Bias: Bearish
We look to Sell at 103.16 with target prices of 90.21 and 86.10, and a stop price of 106.86
Confidence: 20%
Technical Analysis
- Preferred trade is to sell into rallies
- There is scope for mild buying at the open but gains should be limited
- Resistance is located at 104.00 and should cap gains to this area
- 20 1day EMA is at 101.00
Trading ideas at a glance.
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