uk100

USDJPY hit the next target of 115.65/75 with a high for the day exactly here & a minor negative candle on the daily chart which increases the chances of a right shoulder forming here. Prices have headed lower as expected to the 114.60/55 target. EURJPY shorts at strong resistance at 129.50/60 worked with a high for the day here & a potential 60 pip profit on the side to minor support at 129.00/128.90 - a low for the day exactly here. CADJPY remains very volatile, making it difficult to hold a trade for a more than a few hours. Up one day, down the next day in the 7 day sideways trend. The key level today does appear to be 9040/30 as stated yesterday. Holding above here is positive, holding below is negative for the outlook. Update daily at 06:30 GMT Today's Analysis. USDJPY reversed from the next target of 115.65/75 as we watch for a right shoulder to form. If you sold the bounce to first resistance at 115.60/70 you are doing well already as we hit targets of 114.85/80 & 114.60/55, perhaps as far as 114.35/30 today. First resistance at 115.15/20, with further resistance at 115.60/70 of course. EURJPY meets strong resistance again at 129.50/60. Shorts need stops above 129.70. A break higher is a buy signal targeting 129.90/95 then 130.25/35. Minor support again at 129.00/128.90. A break lower targets 128.65/60 before a retest of 128.30/20. CADJPY beat first resistance at 9030/40 to hit the next target of 9080/90 with a high for the day here again yesterday but the pair are difficult to read. Above here look for 9110/15. A break higher targets 9140/50. Minor support at 9040/30. Further losses can retest 8970/60. A break lower can target the 200 day moving average at 8915/10.   EURUSD beat strong resistance at 1.1205/10 & was expected to target strong resistance at 1.1255/65 - this target was hit & is holding as I write. However a break above 1.1280 today is a buy signal. USDCAD we wrote: should meet very strong support at 1.2665/55. Longs need stops below 1.2645. A low for the day exactly at 1.2665/55 yesterday & a potential 60 pip profit on the bounce to minor resistance at 1.2710/20 with a high for the day exactly here. These 2 levels marked the low & the high for the day. Update daily at 06:30 GMT Today's Analysis. EURUSD hit the next target & strong resistance at 1.1255/65 which is still holding today. Shorts need stops above 1.1275. A break above 1.1280 is a buy signal targeting 1.1300/10, perhaps as far as 1.1340/50. Shorts at strong resistance at 1.1255/65 target 1.1210/00. If we continue lower look for minor support at 1.1180/70. USDCAD held very strong support at 1.2665/55. Longs need stops below 1.2645. A break lower however targets 1.2615/05. Minor resistance at 1.2710/20 held the bounce yesterday but above here can target 1.2750/60, perhaps as far as 1.2780/90. To subscribe to this report please visit daytradeideas.co.uk or email jason@daytradeideas.co.uk No representation or warranty is made as to the accuracy or completeness of this information and opinions expressed may be subject to change without notice. Estimates and projections set forth herein are based on assumptions that may not be correct or otherwise realised. All reports and information are designed for information purposes only and neither the information contained herein nor any opinion expressed is deemed to constitute an offer or invitation to make an offer, to buy or sell any security or any option, futures or other related derivatives.

European stock markets started the week trading higher following some positive news surrounding the talks between Russia and Ukraine as officials announced that some progress was being made and potential compromises were on the table. This positive sentiment carried over despite news of a major lockdown in a city in China caused by a surge in covid-19 cases over the weekend and as a meeting is expected today in Rome between US and Chinese officials to discuss the conflict. The German Dax is up around 3% and has managed to briefly break through a resistance area after sentiment was significantly impacted by the rising tension which threatened to severely disrupt European economies. Meanwhile the UK’s FTSE100 is also gaining as PM Boris Johnson is due to travel to Saudi Arabia to meet prince Mohammed bin Salman to discuss a potential increase in oil supplies to offset the foregone Russian supplies. While there is a lack of data releases today, markets remain extremely susceptible to volatility as any major news relating to the conflict could trigger major moves which would echo across asset classes and trigger investor panic. Oil and Gold retreat as hopes for peace talks spark optimism After the massive rally which took oil and gold prices near their all time highs, we have seen the situation improve slightly over the last few days as markets began to receive some encouraging news regarding the prospect for a potential deal between the russians and ukranians. Tensions and rising supply concerns took the prices of those commodities to the highest levels in years as investors looked for a safe haven amid rising uncertainty and as they anticipated significant disruption in the oil market due to the unavailability of Russian supplies. However, at the start of the week the situation appears to be improving even more with oil prices back towards $100 a barrel while gold dropped over $100 from its recent high and is trading around $1960. While this situation may not last very long, as any major event could trigger a spike in both once again, it does provide some encouraging signs that if the situation continues to show signs of resolution markets could adjust quite rapidly.

MarketTalk: What’s up today? | Swissquote Risk appetite improved, equities extended rally as talks between Ukraine and Russia hinted at progress, with Russia retreating from Kyiv to concentrate its military efforts in the Donbas region. The de-escalation gave a sigh of relief to investors, although many, including Joe Biden remain skeptical regarding the pullback from Kyiv, that could be ‘limited and tactical’. US crude dived to the 50-DMA yesterday, but that critical support held strong, and the price of a barrel rebounded back above the $105 level. The short-term outlook remains positive and price pullbacks are still seen as interesting dip buying opportunities if the 50-DMA is not cleared. The three major US indices followed up on the European session gains on de-escalation of the situation in Ukraine, but the US 2-year yield caught up, and even briefly surpassed the 10-year yield for the first time since 2019. Rising US yields, and de-escalation in Ukraine weigh on gold prices. But, the curve inversion, nor rising inflation prevent US stock indices from extending gains and the meme stocks are on fire, with GameStop up by 158% in the past two weeks and AMC up by more than 160%. Could the meme craze stretch higher? Yes, it could! Today, the Eurozone flash inflation figures for March start flowing in, and the US will reveal how many private jobs it added in March today. Strong economic data could revive the Fed hawks, push US yields even higher and dampen the mood. Watch the full episode to find out more! Timestamps: 0:00 Intro 0:24 Ukraine: light at the end of the tunnel? 1:50 Equities rally on de-escalation hope 2:49 US crude rebounds from 50-DMA 4:08 US 2-10 year yield inverts briefly 5:10 Rising yields, de-escalation weigh on gold 5:49 US indices, meme stocks defy rising yields 6:41 Bitcoin tests 200-DMA 7:12 Today's macro calendar & latest FX moves Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020.

Dax 40 JUNE finally reaches the target & strong resistance at 14750/850. Shorts need stops above 14950. We just held this level yesterday before a dip to 14780 this morning. FTSE 100 JUNE made another push higher but again there was a pullback in to the close. We have a series of candles on the daily chart with long upper wicks, indicating that there is strong selling pressure at the end of the day. This can be quite a negative signal, but of course does not tell us when the market will turn lower. Update daily by 06:00 GMT Today's Analysis. Dax finally tests strong resistance at 14750/850. Shorts need stops above 14950. A close above here tonight is a (surprising) buy signal targeting 15200/220, perhaps as far as 15400. Shorts at 14750/850 target 14600 & minor support at 14550. We should at least pause here on the downside. If we continue lower look for strong support at 14350/300 for some profit taking. FTSE higher again to the next target of 7510/30 with a high for the day just 11 ticks above. It is possible that we continue to crawl higher & ultimately reach the February high at 7610/30. However I feel the index is running out of steam. First support at 7470/60, with better support at 7430/20. A break lower meets strong support at 7360/40. A bounce from here looks likely, but longs need stops below 7320. To subscribe to this report please visit daytradeideas.co.uk or email jason@daytradeideas.co.uk No representation or warranty is made as to the accuracy or completeness of this information and opinions expressed may be subject to change without notice. Estimates and projections set forth herein are based on assumptions that may not be correct or otherwise realised. All reports and information are designed for information purposes only and neither the information contained herein nor any opinion expressed is deemed to constitute an offer or invitation to make an offer, to buy or sell any security or any option, futures or other related derivatives.

AUDJPY lower as expected to test strong Fibonacci support at 9100/9080. Longs need stops below 9060. A break lower is a sell signal targeting 9000/8990 then support at 9010/8990. Our longs at 9100/9080 target 9145 & resistance at 9190/9200 for profit taking. Further gains are less likely but should target 9260/65 & perhaps as far as 9300/9320. If we unexpectedly continue higher however look for 9350/55 before a retest of what should be strong resistance at 9400/16. A break above 9430 is a buy signal. Dax finally tests support at 14350/300 for some profit taking on our shorts with low for the day exactly as predicted - longs could still be risky - if you try, stop below 14200. A break lower is the next sell signal targeting 13950/850. Minor resistance at 14540/580 but above 15610 can target strong resistance at 14750/850. Shorts need stops above 14950. FTSE outlook is more negative now. We could target first support at 7435/25 but longs here are probably risky. Best support at 7365/45. Longs need stops below 7325. Resistance at yesterday's high of 7530/50. Shorts need stops above 7570. A break higher (& weekly close above for confirmation) is a buy signal in to next week. EURJPY holding between first resistance at 135.60/50 & first support at 134.50/30, with a low for the day yesterday as predicted. Maybe we can trade this range before the NFP number today. Longs need stops below 134.10. A break lower targets 133.50/40. Shorts at 135.60/50 stop above 136.80. A break higher targets 136.25/35. Further gains today can allow a retest of this week's high at 137.40/52. A break higher can target 137.90/99.

EURUSD seeks support The US dollar rallied after March’s average hourly wages jumped by 5.6%. The euro came to a halt in the supply zone at the origin of the March sell-off (1.1180). A bearish RSI divergence pointed to softness in the rebound. A fall below 1.1120 then 1.1070 prompted buyers to bail out, further weighing on overall sentiment. 1.0980 at the base of the recent bullish impetus is major support. Its breach could invalidate the recovery and trigger a new round of sell-offs. The bulls need to clear 1.1120 to regain the upper hand. XAUUSD builds support Gold retreats as the US dollar finds support from a fall in the jobless rate. On the daily chart, price action still holds above the demand zone between 1890 and 1900 which is a sign of strong buying interest. A break above 1940 forced sellers out. This may also foreshadow a reversal. Sentiment would improve if the precious metal stays above 1915. A bullish close above 1960 could extend the rally to the psychological level of 2000. On the downside, 1890 is a critical level to maintain the bulls’ optimism. UK 100 consolidates gains The FTSE 100 treads water dragged by weaker energy stocks. A bullish MA cross on the daily chart suggests that the index could be back on track in the medium term. The intraday direction is still up despite its choppiness. A close above 7590 would extend the rally to this year’s high at 7690. Trend followers may see pullbacks as a bargain opportunity. The RSI’s oversold condition attracted some buying interest over 7460. A deeper correction would send the index to 7380 which coincides with the moving averages.

EURUSD breaks critical support The euro struggles as the eurozone’s growth prospect dampens. The pair remains under pressure after it broke below a short-lived congestion area around 1.0770. A bearish breakout below March 2020’s lows near 1.0650 (a major demand zone) could send the single currency to 1.0580. In the meantime, the RSI’s double-dip in the oversold territory may trigger a buy-the-dips behavior. 1.0750 is a fresh resistance and its breach could alleviate the selling pressure. The bulls must clear 1.0840 before they could regain control. Read next: Powerful (USD), Really Strong (CAD) - US Dollar To Canadian Dollar, Solid NZD Performance, UKOIL To Stabilize? | FXMAG.COM AUDUSD sees limited bounce The Australian dollar recovers over a better-than-expected Q1 CPI reading. A break below March’s low at 0.7170 may have invalidated the recent rebound and put the Aussie on a reversal course in the weeks to come. A bearish MA cross on the daily chart indicates an acceleration to the downside. An extremely oversold RSI on the hourly time frame prompted sellers to take profit, driving the price up momentarily. Stiff selling pressure could be expected around 0.7370. 0.7100 would be the next stop in case of another sell-off. Read next: EUR/USD: US Dollar (USD) Supported By A 75bp Rate Hike!? EUR Influenced By Last Week's Activities, Price Of Gold (XAUUSD) May Not Stop Below $1980 | FXMAG.COM UK 100 struggles for bids The FTSE 100 tumbles as China’s lockdowns hit sentiment. A plunge below the demand zone at 7500 further weighs on the market mood after buyers failed to lift offers around this year’s peak at 7670. The RSI’s overextension led to a rebound. Nonetheless, downbeat sentiment capped the price at 7490 where a new round of sell-off started. Trapped buyers could be scrambling for the exit, compounding existing selling interests in the process. A deeper correction below 7370 would send the index to 7250. Read next: What Is Chia Coin? - (XCH) - First New Nakamoto Coin Since Bitcoin Launch (2009) | FXMAG.COM

AUDUSD struggles to rebound The Australian dollar recovered after the RBA raised its cash rate for the first time in over a decade. A break below 0.7100 further weighed on sentiment. Caution still prevails as buyers are wary of catching a falling knife. The RSI’s oversold condition on the daily chart may attract increasing buying interest, notably some short-covering. Nonetheless, the bulls need to lift offers near 0.7170 before a reversal could gain a foothold. This year’s low at 0.6970 is a critical floor and its breach could send the Aussie into 0.68s. NZDUSD becomes overextended The New Zealand dollar steadied after the Q1 jobless rate met expectations. The break below January’s lows at 0.6540 sent the kiwi into a free fall. On the daily chart, a bearish MA cross exacerbated the downward pressure, though the RSI’s incursion into the oversold area may temper the bearish drive. A rebound to 0.6540 may be necessary to recover from the overextension, which could be an opportunity to sell into strength. June 2020’s low at 0.6390 would be the next target when momentum returns. UK 100 grinds resistance The FTSE 100 rallies ahead of the BOE meeting on Thursday. A bullish RSI divergence could be a soothing sign for the bulls as it indicates a slowdown in the sell-off. A bounce above 7490 prompted sellers to cover their positions, further easing the downward pressure. 7580 is the next hurdle and its breach would bring the index back to the double top at 7670, where a breakout could resume the uptrend in the medium-term. 7420 is an immediate support and 7300 an important level to keep the recent rebound intact.

German inflation hit a fresh record high of 8.7% in May, above the 8.1% penciled in by analysts. The data gave a boost to the European Central Bank (ECB) hawks and helped the EURUSD extend gains to 1.0780. Crude oil extended rally as the European leaders finally announced their decision to partially ban the Russian oil. Can The EU Affect OPEC's Move? Bitcoin's Rally And people started asking, would the European decision to ban the Russian oil would impact the OPEC’s decision about production; would the OPEC nations pump more to replace the Russian oil for European exports? Elsewhere, the softish US yields help gold consolidate above 200-DMA, while other precious metals also gain, Bitcoin rallies above $31K and the US markets are back after a long-weekend break!   Watch the full episode to find out more! 0:00 Intro 0:25 German inflation hits record, revives ECB hawks 1:31 Europe announces to partially ban Russian oil, oil rallies 4:08 Go deeper: will EU decision affect OPEC strategy? 5:38 US LNG stocks extend rally 6:32 DAX, FTSE recover¨ 8:00 Precious metals update. Gold, platinum, palladium 9:07 Bitcoin rallies, but gains remain vulnerable Read next: Altcoins: Ripple Crypto - What Is Ripple (XRP)? Price Of XRP | FXMAG.COM Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. Follow FXMAG.COM on Google News  

Chinese stimulus hopes fails to lift the FTSE Unilever among the best performers in the index after reporting earnings UK100 not far from all-time highs   It’s been another relatively flat session for equity markets, with investors seemingly having one eye on the Fed and ECB later in the week despite a strong showing in Chinese stocks earlier in the day. They were lifted by the promise of Chinese stimulus following the Politburo meeting this week and some potential relief for the property market. It’s been a tougher re-emergence from zero-Covid than many anticipated, with consumers still seemingly holding back and the property sector still reeling from the previous crackdown. The enthusiasm hasn’t filtered through to Europe and the US though, perhaps due to the lack of detail currently on the stimulus measures, but also the distraction of the central bank meetings over the next 48 hours. Progress on inflation could mean both the Fed and ECB are about to announce their final rate hikes of the tightening cycle; the question is will they acknowledge that or maintain a hawkish position over the rest of the summer? Unilever rallies amid hints at price pressures easing Unilever is among the top performers on the FTSE 100 today, buoyed by a surge in profits in the last quarter. It comes at a challenging time when high inflation is pushing up costs and there is a growing spotlight on producers and supermarkets amid claims of profiteering. What’s more, the cost-of-living crisis is pushing consumers toward cheaper own-brand products which partly contributed to a decline in sales volumes. The company did reassure investors that pressures are easing though which should be good news for households and the share price is also reaping the rewards, up around 5%.     Can the UK100 take the next step? The UK100 has been on a good run over the last few weeks, taking it towards 7,700 where it is now running into some resistance.     This has previously been a very notable area of resistance, most recently in the middle of June, and so overcoming it could be a significant bullish signal for the markets. The index is not trading too far from its all-time highs at this stage and so a break of this could draw attention to a few notable levels. We’ve seen 7,800 and 7,850 provide plenty of support and resistance over the course of this year and so that area stands out on the chart. After that, there are a few more areas where price previously ran into some difficulty ahead of the high just above 8,000. Around these levels, the stochastic and MACD indicators could offer some useful information on how much momentum remains with the rally and whether we’re potentially seeing doubts or profit-taking kicking in.

China Caixin services PMI slips to 51.8 UK100 erases earlier losses Potential breakout confirmation could be a bullish signal China is continuing its sluggish recovery this year with the latest Caixin services PMI slipping back to 51.8 from 54.1 and well below forecasts. As we saw in the official survey data last week, it highlights the economy is struggling from both weak internal and external demand. Measures to support the economy have been limited and targeted so far and there’s little to suggest that approach is going to change in the foreseeable future. The PMI data may be contributing to the weaker performance in China and Hong Kong overnight and the uninspiring start in Europe.     Confirmation of last week’s breakout in UK100  The chart isn’t offering too many clues either, with early declines erased and the UK100 trading marginally higher on the day. UK100 Daily Source – OANDA on Trading View The index has pulled off its lows over the last couple of weeks after a pretty miserable August but I’m not convinced the last month truly reflects the sentiment in the market going into the end of the year. It’s seen support this morning around 7,400, as it has on a number of occasions in months gone by after running into resistance yesterday around 7,500. That could perhaps be viewed as a bullish signal, a confirmation of the break above 7,400 last week, with 7,500 and 7,600 above the next notable areas of technical resistance. But broadly speaking, this still looks like an index that’s struggling for sustained direction. Perhaps with the end of global monetary tightening almost upon us, the outlook can become clearer which will enable a break in one direction or another.