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.

Free Trading Guides
EUR/USD
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
GBP/USD
Mixed
USD/JPY
Bullish
Gold
Bullish
Oil - US Crude
Bullish
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
Bitcoin
Bearish
More View more
Real Time News
  • #Gold: For the bull-flag to get into motion the top-side parallel of the pattern will need to be crossed, something that may have to wait until early next year. Get your $XAUUSD technical analysis from @PaulRobinsonFX here:https://t.co/MYNsQmAPXJ $gld https://t.co/xObRO4DIdh
  • 🇦🇺 AUD CBA Australia PMI Services (NOV P), Actual: 49.5 Expected: N/A Previous: 50.8 https://www.dailyfx.com/economic-calendar#2019-11-21
  • Australia's November PMI readings slip back into contractionary territory with the Composite at 49.5 after last month's 50.0. Not a good start to our global GDP update today
  • 🇦🇺 AUD CBA Australia PMI Composite (NOV P), Actual: 49.5 Expected: N/A Previous: 50.0 https://www.dailyfx.com/economic-calendar#2019-11-21
  • 🇦🇺 AUD CBA Australia PMI Mfg (NOV P), Actual: 49.9 Expected: N/A Previous: 50.0 https://www.dailyfx.com/economic-calendar#2019-11-21
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.14% 🇯🇵JPY: -0.00% 🇬🇧GBP: -0.13% 🇨🇭CHF: -0.22% 🇳🇿NZD: -0.24% 🇦🇺AUD: -0.24% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/3FlqOFT4fk
  • @PeterHanksFX @DailyFXTeam Who doesn’t like a good Spongebob meme? Especially when it’s used to explain a cross-Atlantic trade war
  • @ZabelinDimitri @DailyFXTeam I'll never not like a spongeBob meme
  • "US President Donald Trump weighing new trade probe to justify levying tariffs on EU, reports Politico" - @DailyFXTeam Looks like this meme is still reusable https://t.co/mIjHitmAk5
  • Heads Up:🇦🇺 AUD CBA Australia PMI Composite (NOV P) due at 22:00 GMT (15min), Actual: N/A Expected: N/A Previous: 50.0 https://www.dailyfx.com/economic-calendar#2019-11-21
AUDUSD Scalps in Play, Intra-day bias shifts to bullish

AUDUSD Scalps in Play, Intra-day bias shifts to bullish

2012-11-21 17:16:00
Michael Boutros, Technical Strategist
Share:

AUDUSD Scalps in Play, Intra-day bias shifts to bullish

AUDUSD- As noted yesterday, "A new scalp setup was tweeted this morning utilizing a simple Fibonacci retracement off the November 16th low and these levels will serve as our scalp targets as the downside correction plays out. Our near-term objective remains 1.0330 noting that the topside risk still remains at the 61.8% retracement from the September decline at 1.0445." The session low as of 11AM has been 1.0337 with our shorts closing out just higher in early US trade. With broader risk assets treading water ahead of the Thanksgiving holiday, we now adopt a bullish intra-day bias against the 1.0330 threshold with a break below this level risking declines into the near-confluence of the 200-day moving average and the monthly pivot at 1.0315/20. Initial topside targets noted in today's updated aussie scalp chart.

AUDUSD Daily Chart

AUDUSD Scalp Chart

JPY- The yen crosses have continued to make remarkable advances with the lower yielder falling against all its major counter-parts today as Japanese economic data continues to deteriorate. Use caution on these pairs as they have a propensity to remain one-sided for some time before correcting.

Keep track of the latest charts on my StockTwits Chart Stream

Flat on the rest of our setups as we head into Holiday Trade. Happy Thanksgiving Everyone!

---Written by Michael Boutros, Currency Strategist with DailyFX.com

To contact Michael email mboutros@dailyfx.com or Click Here to be added to his email distribution list

For updates on this setup and more follow him on Twitter @MBForex

Introduction to Scalping Strategies Webinar

Beginner Fibonacci Expo Presentation

New to FX Trading? Watch this Video

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

DISCLOSURES

News & Analysis at your fingertips.