AUD/USD: Shorts at 0.6080 target 0.6035

Jason Sen DayTradeIdeas.co.uk

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

Author

Jason Sen

DayTradeIdeas.co.uk

EUR/USD extends its optimism past 1.1900

EUR/USD retains a firm underlying bid, surpassing the 1.1900 mark as the NA session draws to a close on Monday. The pair’s persistent uptrend comes as the US Dollar remains on the defensive, with traders staying cautious ahead of upcoming US NFP prints and CPI data.

GBP/USD hits three-day peaks, targets 1.3700

GBP/USD is clocking decent gains at the start of the week, advancing to three-day highs near 1.3670 and building on Friday’s solid performance. The better tone in the British Pound comes on the back of the intense sekk-off in the Greenback and despite re-emerging signs of a fresh government crisis in the UK.

Gold picks up pace, retargets $5,100

Gold gathers fresh steam, challenging daily highs en route to the $5,100 mark per troy ounce in the latter part of Monday’s session. The precious metal finds support from fresh signs of continued buying by the PBoC, while expectations that the Fed could lean more dovish also collaborate with the uptick.

XRP struggles around $1.40 despite institutional inflows

Ripple (XRP) is extending its intraday decline to around $1.40 at the time of writing on Monday amid growing pressure from the retail market and risk-off sentiment that continues to keep investors on the sidelines.

Japanese PM Takaichi nabs unprecedented victory – US data eyed this week

I do not think I would be exaggerating to say that Japanese Prime Minister Sanae Takaichi’s snap general election gamble paid off over the weekend – and then some. This secured the Liberal Democratic Party (LDP) an unprecedented mandate just three months into her tenure.