AUD/USD _ NZD/USD
AUDUSD we wrote: bulls need to hold 5900/5880 to maintain the short term recovery. Holding above 5940 is more positive targeting 5975/80 & 6020/25 before a retest of 6072. Try shorts at 6080/6100 with stops above 6140.
Perfect call! Longs at 5900/5880 hit every target for a potential 200 pips as we topped exactly at our selling opportunity at 6080/6100.
NZDUSD we wrote: holding minor support at 5790/5770 (& break above 5825) gives me hope of a bounce back towards our selling opportunity at 5915/35 with stops above 5970.
Longs at 5790/5770 made a potential 125 pips but the shorts at 5915/35 gave back 50 pips when stops were activated.
Reports will be updated around lunch time GMT if necessary.
Daily Analysis
AUDUSD shorts at 6080/6100 target 6035/30 (hit) & minor support at 6010/00. Outlook negative in the bears trend with further losses targeting 5980/75 & best support for today at 5960/40. Longs need stops below 5910.
Shorts at 6080/6100 stop above 6140. An unexpected break higher targets 6190/6210 & 6250/70.
NZDUSD over ran our selling opportunity at 5915/35 by 50 pips but I still think it is likely we will reverse today targeting 5915/05 & perhaps as far as support at 5870/60. Expect support at 5810/5800 for profit taking on any remaining shorts.
I would still try a short around 5950/80 with stops above 6000. If I am wrong & we break higher look for 6030/40, 6080/90 & perhaps as far as 6140/60.
To subscribe to this daily report please visit daytradeideas.co.uk or email [email protected]
Trends
Weekly outlook is negative
Daily outlook is negative
Short Term outlook is positive
The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.
Recommended Content
Editors’ Picks
USD/JPY holds above 155.50 ahead of BoJ policy announcement
USD/JPY is trading tightly above 155.50, off multi-year highs ahead of the BoJ policy announcement. The Yen draws support from higher Japanese bond yields even as the Tokyo CPI inflation cooled more than expected.
AUD/USD extends gains toward 0.6550 after Australian PPI data
AUD/USD is extending gains toward 0.6550 in Asian trading on Friday. The pair capitalizes on an annual increase in Australian PPI data. Meanwhile, a softer US Dollar and improving market mood also underpin the Aussie ahead of the US PCE inflation data.
Gold price keeps its range around $2,330, awaits US PCE data
Gold price is consolidating Thursday's rebound early Friday. Gold price jumped after US GDP figures for the first quarter of 2024 missed estimates, increasing speculation that the Fed could lower borrowing costs. Focus shifts to US PCE inflation on Friday.
Stripe looks to bring back crypto payments as stablecoin market cap hits all-time high
Stripe announced on Thursday that it would add support for USDC stablecoin, as the stablecoin market exploded in March, according to reports by Cryptocompare.
US economy: Slower growth with stronger inflation
The US Dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.