Here are our signal directions and price ranges for your consideration. These are your guides for your own research to help you identify opportunities. We recommend including fundamentals into your research and to keep up to date with breaking news that may impact the direction of your trades. Good luck and have a great day.
All eyes are on the Bank of Canada Monetary Policy report and interest rate decision today.
US Fed reserve are being urged by US Senators to take a more dovish stance on interest rate hikes to protect jobs.
Stocks rise in Asia in hope of slowing interest rate hikes
EUR rises as markets price in 0.75% interest rate hike for Euro Zone
Japanese finance minister states that intervention will not have much effect on the currency and a policy change not likely until 2023.
USD/JPY: INTRADAY BULLISH
Overall, the intraday bias is bullish. However, overnight there has been some price retracement. If this retracement continues, we expect price to hit the first support at 147.27. Alternatively, it may retest the first resistance at 148.84.
Short positions below 148.19 with targets 147.27, 146.61, 145.70
Above 148.19 long positions with targets 148.84 149.75, 150.41
EUR/USD: INTRADAY BULLISH
On the 4-hour, price is moving in a short-term ascending direction. We are expecting the price to rise to the first resistance at 1.0015.
Above 0.9932 long positions with targets 1.0015, 1.0062, 1.0145
Short positions below 0.9932 with targets 0.9885, 0.9802, 0.9755
GBP/USD: INTRADAY BULLISH
We are bullish biased that the price will break through the first resistance at 1.1557 and head towards the second resistance at 1.1642
Long positions above 1.1413 with targets 1.1557, 1.1642, 1.1786
Below 1.1413 short positions with targets 1.1328, 1.1184, 1.1099
USD/CHF: INTRADAY BEARISH
Overnight price has retraced, if it continues, we expect price to hit the first support at 0.9915
Short positions below 0.9973 with targets 0.9915, 0.9882, 0.9824
Long positions above 0.9973 with targets 1.0006, 1.0064, 1.0097
XAU/USD: INTRADAY CAUTION
The price is currently retesting at 1665.30 and possibly will extend to 1670.00. We expect it to hit this price range and then drop back down to the third support at 1641.51 and then to 1628.00.
Long positions above 1653.60 with targets 1657.37, 1661.53, 1665.30
Short positions below 1653.60 with targets 1649.44, 1645.67, 1641.51
AUD/USD: INTRADAY BULLISH
We are bullish that the price will test the first resistance at 0.6437
Long positions above 0.6368 with targets 0.6437, 0.6480, 0.6549
Below 0.6368 short positions with targets 0.6325, 0.6256, 0.6213
Bullish momentum has continued overnight, and price is heading back up to the first resistance at 0.5800. If it breaks through this, we expect it to head towards the second resistance at 0.5844.
Long positions above 0.5736 with targets 0.5800, 0.5844, 0.5908
Below 0.5736 short positions with targets 0.5692, 0.5628, 0.5584
USD/CAD: INTRADAY BEARISH
Bearish momentum continued overnight, we expect price to head to the first support at 1.3556, and then to hit the second support at 1.3505.
Below 1.3652 short positions with targets 1.3556, 1.3505, 1.3409
Long positions above 1.3652 with targets 1.3703, 1.3799, 1.3850
Crude Oil WTI Futures: INTRADAY RANGE
Oil has been consolidating just under the first resistance at 85.45. Our overall bias is bearish. We are expecting price to head towards the first support at 84.78.
Below 84.92 short positions with targets 84.78, 84.25, 84.11
Long positions above 84.92 with targets 85.45, 85.59, 86.12