News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • RT @KyleR_IG: Reasonably punchy move in $amzn shares in post market trade. https://t.co/E3paeY1rk6 https://t.co/VqgyRTRXY1
  • 🇳🇿 Building Permits MoM (JUN) Actual: 3.8% Previous: -2.4% https://www.dailyfx.com/economic-calendar#2021-07-29
  • Heads Up:🇳🇿 Building Permits MoM (JUN) due at 22:45 GMT (15min) Previous: -2.8% https://www.dailyfx.com/economic-calendar#2021-07-29
  • Bitcoin Price to Boost Coinbase as Robinhood IPO Flops $BTCUSD has propelled higher this week. With crypto outlook sanguine again, $COIN has potential to outperform $HOOD following its weak trading debut. Link to Analysis - https://www.dailyfx.com/forex/market_alert/2021/07/29/bitcoin-price-to-boost-coinbase-coin-as-robinhood-ipo-hood-flops.html https://t.co/cR8w1neoT5
  • Robinhood given an enterprise value of $32 billion after shares priced at $38. Get your market update here:https://t.co/fybAmxrAdo https://t.co/XeUn7kAZ0Q
  • 🇰🇷 Business Confidence (JUL) Actual: 97 Previous: 98 https://www.dailyfx.com/economic-calendar#2021-07-29
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.87% 🇨🇦CAD: 0.63% 🇨🇭CHF: 0.43% 🇯🇵JPY: 0.39% 🇪🇺EUR: 0.37% 🇦🇺AUD: 0.27% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/vH1UWZP3Gt
  • Robinhood closes its first session as a publicly listed company down just over 8% $HOOD https://t.co/4GOkrVfs1B
  • Heads Up:🇰🇷 Business Confidence (JUL) due at 21:00 GMT (15min) Previous: 98 https://www.dailyfx.com/economic-calendar#2021-07-29
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 2.33% Gold: 1.17% Oil - US Crude: -0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/gkJwZQnj4N
Reasons for why I'm Short Australian Dollar

Reasons for why I'm Short Australian Dollar

David Rodriguez, Head of Product

I went short Australian Dollar last week and I've added to the position today, as I think there remains significant potential for further declines.

As I detailed on the Real Time News Feed last week, my initial entry was at the $1.0487 with a stop above $1.0550. I remain in that position as I look for the pair to test significant support at $1.0180.

Since then, I added to the position after Fed Chairman Ben Bernanke's address at Jackson Hole pushed the Dollar lower. I sold from $1.0330 with a stop above $1.0400.

Ultimately I'm paying a lot of attention to the fact that recent CFTC Commitment of Traders data shows Non-Commercial futures traders at their most net-long AUDUSD since the pair hit record-highs in 2011.

Our proprietary Speculative Sentiment Index data nonetheless shows that retail FX traders are now net-long the Australian Dollar. The combination of extremely short professional speculators and net-long retail traders provides the timing I often look for in a trade.

I will hold a base short position in the AUDUSD as long as we remain below $1.0550, while I may choose to scale out of a portion of the trade on a break below $1.0280.

Contact and Follow David via Twitter: http://www.Twitter.com/DRodriguezFX

Receive David's report via Facebook:http://www.Facebook.com/DRodriguezFX

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES