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
More View more
Real Time News
  • (ASEAN Tech) US Dollar Bounces off Key Trendlines and Support: USD/SGD, USD/THB, USD/IDR, USD/PHP #USD $USDSGD $USDTHB $USDIDR $USDPHP https://www.dailyfx.com/forex/technical/article/special_report/2021/10/28/US-Dollar-Bounces-off-Key-Trendlines-and-Support-USDSGD-USDTHB-USDIDR-USDPHP.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/EUB4EbPdSX
  • Further your forex knowledge and gain insights from our expert analysts @ddubrovskyFX and @FxWestwater on JPY with our free Q4 market analysis guide, available for free today. https://t.co/xpwkc39X5M
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 89.75%, while traders in USD/JPY are at opposite extremes with 73.09%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/6bUTL5FBE8
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.19% 🇳🇿NZD: 0.16% 🇪🇺EUR: 0.02% 🇨🇭CHF: -0.04% 🇦🇺AUD: -0.10% 🇨🇦CAD: -0.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ljUgiY0Okl
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: US 500: 0.18% Wall Street: 0.16% FTSE 100: 0.06% Germany 30: -0.01% France 40: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/iW9yhyAQz7
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn more about controlling greed here: https://t.co/5GXReUsKRj https://t.co/mO5zLx9fYU
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZBx7g https://t.co/h4IobFxst9
  • Earnings will remain a key theme ahead with AMZN and AAPL due to follow GOOG's and MSFT's failure to push a Nasdaq 100 to record highs while the ECB will follow in the BOC's and Brazil hawkish policy mix. That said, I'm watching the Dollar most closely: https://www.dailyfx.com/forex/video/daily_news_report/2021/10/28/Nasdaq-100-Fails-to-Break-Despite-Google-EURUSD-Will-Struggle-for-Break-Despite-Heavy-Event-Risk.html https://t.co/dyXrxok07K
  • 🇯🇵 BoJ Interest Rate Decision Actual: -0.1% Expected: -0.1% Previous: -0.1% https://www.dailyfx.com/economic-calendar#2021-10-28
  • Heads Up:🇯🇵 BoJ Quarterly Outlook Report due at 03:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-10-28
Forex Analysis: Looking to Sell AUDUSD Bounce

Forex Analysis: Looking to Sell AUDUSD Bounce

David Rodriguez, Head of Product

I've closed most of my US Dollar (ticker: USDOLLAR) long against the Japanese Yen, but a bullish USD forecast means I'm looking to buy any short-term pullbacks.

In today's SSI report, I highlight the fact that retail trading crowds are now long the Australian Dollar against the US Dollar for the first time in a month. All the while, the majority of retail traders are their least net-long USDJPY in quite some time.

The combination is enough for me to continue watching for USDJPY strength and AUDUSD weakness. Yet volatility remains too low to chase the USD higher here. Instead I'd like to sell an AUDUSD bounce and buy into USDJPY declines.

I'm now in a very small USDJPY-long position as I took partial profits on the run higher, but I'd like to buy on any dips towards resistance-turned-support at ¥80.65.

For the AUDUSD I'll take much the same approach--I'll look to sell the Aussie if it hits support-turned-resistance near $1.0360.

Stops on both the Aussie and USDJPY positions will be placed at the subsequent swing high or low.

I'll keep my thoughts posted via the forex real time news feed.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up to David’s e-mail distribution list via this link.

Contact David via Twitter at http://www.twitter.com/DRodriguezFX

Facebook at http://www.Facebook.com/DRodriguezFX

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

DISCLOSURES