EURUSD
Bias: Bullish
We look to Buy at 1.0964 with target prices of 1.1146 and 1.1175, and a stop price of 1.0882
Confidence: 40%
Technical Analysis
- The trend of higher lows is located at 1.0900
- This is positive for sentiment and the uptrend has potential to return
- There is scope for mild selling at the open but losses should be limited
- Further upside is expected although we prefer to buy into dips close to the 1.0960 level
GBPUSD
Bias: Bearish
We look to Sell at 1.3245 with target prices of 1.3075 and 1.3000, and a stop price of 1.3305
Confidence: 60%
Technical Analysis
- We are trading at overbought extremes
- A lower correction is expected
- With the Ichimoku cloud resistance above we expect gains to be limited
- We look to sell rallies
USDJPY
Bias: Bullish
We look to Buy at 117.57 with target prices of 118.95 and 119.25, and a stop price of 116.94
Confidence: 60%
Technical Analysis
- Prices have continued the bullish move higher and resulted in 7 consecutive positive days
- Although we remain bullish overall, a correction is possible with plenty of room to move lower without impacting the trend higher
- A weaker opening is expected to challenge bullish resolve
- Further upside is expected although we prefer to buy into dips close to the 117.50 level
GOLD
Bias: Bullish
We look to Buy at 1912 with target prices of 1973 and 2000, and a stop price of 1885
Confidence: 80%
Technical Analysis
- Buying pressure from 1910 resulted in prices rejecting the dip
- This is positive for sentiment and the uptrend has potential to return
- Further upside is expected and we look to set longs in early trade
- Dip buying offers good risk/reward
GER40
Bias: Bearish
We look to Sell at 14528 with target prices of 14213 and 14133, and a stop price of 14654
Confidence: 40%
Technical Analysis
- Price action has stalled at good resistance levels and currently trades just below here (14500)
- We look for a temporary move higher
- Daily signals are bullish
- Preferred trade is to sell into rallies
- 50 1day EMA is at 14530
AUDUSD
Bias: Bullish
We look to Buy at 0.7255 with target prices of 0.7366 and 0.7390, and a stop price of 0.7205
Confidence: 40%
Technical Analysis
- Following yesterday’s bullish candle, the overall trend higher looks set to continue today
- A weaker opening is expected to challenge bullish resolve
- Support is located at 0.7250 and should stem dips to this area
- Preferred trade is to buy on dips
WTI
Bias: Bullish
We look to Buy at 92.69 with target prices of 103.99 and 104.25, and a stop price of 87.33
Confidence: 60%
Technical Analysis
- The selloff has posted an exhaustion count on the intraday chart
- Posted a Double Bottom formation
- This is positive for sentiment and the uptrend has potential to return
- Further upside is expected although we prefer to buy into dips close to the 92.00 level
Trading ideas at a glance.
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