EURUSD
Bias: Bearish
We look to Sell at 1.1123 with target prices of 1.0986 and 1.0945, and a stop price of 1.1144
Confidence: 60%
Technical Analysis
- The medium term bias remains bearish
- Trading within the Wedge formation
- Bespoke resistance is located at 1.1123
- There is scope for mild buying at the open but gains should be limited
- Preferred trade is to sell into rallies
GBPUSD
Bias: Bearish
We look to Sell at 1.3340 with target prices of 1.3130 and 1.3000, and a stop price of 1.3415
Confidence: 60%
Technical Analysis
- Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible
- We are trading at overbought extremes
- The 200 day moving average should provide resistance at 1.3355
- This is negative for sentiment and the downtrend has potential to return
- We look to sell rallies
USDJPY
Bias: Bullish
We look to Buy at 120.07 with target prices of 121.50 and 122.00, and a stop price of 119.72
Confidence: 80%
Technical Analysis
- The medium term bias remains bullish
- The continuation higher in prices through resistance has been impressive with strong momentum and shows no signs of slowing
- Bespoke support is located at 120.07
- Further upside is expected although we prefer to set longs at our bespoke support levels at 120.07, resulting in improved risk/reward
GOLD
Bias: Bullish
We look to Buy at 1899 with target prices of 1934 and 1948, and a stop price of 1886
Confidence: 80%
Technical Analysis
- Preferred trade is to buy on dips
- Previous support located at 1900
- 50 1day EMA is at 1895
- Intraday signals are mixed
- Further upside is expected although we prefer to set longs at our bespoke support levels at 1900, resulting in improved risk/reward
GER40
Bias: Bullish
We look to Buy at 14402 with target prices of 14648 and 14698, and a stop price of 14299
Confidence: 40%
Technical Analysis
- Short term bias is bullish
- 20 4hour EMA is at 14395
- Bespoke support is located at 14400
- We look to buy dips
AUDUSD
Bias: Bullish
We look to Buy at 0.7370 with target prices of 0.7500 and 0.7555, and a stop price of 0.7325
Confidence: 40%
Technical Analysis
- We are trading at oversold extremes
- A Doji style candle has been posted from the high
- A lower correction is expected
- The bias is still for higher levels and we look for any dips to be limited
- Preferred trade is to buy on dips
WTI
Bias: Bullish
We look to Buy at 102.74 with target prices of 112.56 and 116.50, and a stop price of 100.22
Confidence: 80%
Technical Analysis
- Posted a Bullish Hammer Bottom on the Weekly chart
- This is positive for sentiment and the uptrend has potential to return
- 20 1day EMA is at 102.00
- The bias is still for higher levels and we look for any dips to be limited
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