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  • Gold could suffer further near-term losses due to rising U.S. Treasury yields and a weak technical picture for price action. Get your weekly gold forecast from @DColmanFX here: https://t.co/g9QvH3L4It https://t.co/Vz98E0Bl9U
  • Gold has been trending lower after failing to clear resistance in the $1835 area earlier this month. Get your $XAUUSD market update from @DColmanFX here:https://t.co/3hm1g3BHgf https://t.co/MdTQKEBCBx
  • Key break here in the 10-year #Treasury yield as it rises to the highest since late June Took out 1.4230 resistance, and the 100-day SMA Eyes now on the 38.2% Fib extension at 1.4775 Also potential falling resistance from March https://t.co/4cI6l210ui
  • The move in rates after this week’s FOMC has continued and the 10 year yield has pushed up to a fresh two-month-high. Get your market update from @JStanleyFX here:https://t.co/CRWhuZ3sxD https://t.co/svHHqN2Zz8
  • S&P 500 contending with its proverbial ‘line in the sand’ as bulls and bears battle for directional control. How we close/trade around the 50-day moving average could serve as a noteworthy bellwether for risk trends headed into next week. I remain cautious below ~4,480. $SPX $ES https://t.co/qogkjs1Sx2
  • USD/JPY trades to a fresh monthly (110.57) amid the pickup in longer-dated US Treasury yields, and the exchange rate may stage a larger advance over the coming days. Get your market update from @DavidJSong here:https://t.co/dlNXOrJnM9 https://t.co/LCQd26W1zF
  • US yields continue to climb, with the 10-year Treasury yield trading above 1.45% $ZN $ZB https://t.co/N4EDfwD3nZ
  • $USDJPY bull thesis appears quite constructive. Technicals show topside breakout above trend resistance following a period of consolidation. Bond yields providing the fundamental catalyst. Eyes on Aug/YTD highs. A broad-based deterioration in market sentiment poses downside risk. https://t.co/AazskXGjHq
  • WTI posting another session of strong gains, currently flirting with the 74 handle $CL #Oil #OOTT https://t.co/oYnm2OYRky
  • The New Zealand Dollar’s bullish breakout attempt in early-September was rebuffed. Price action at the end of the month is telling a different story. Get your market update from @CVecchioFX here:https://t.co/AquMSrssne https://t.co/DtFuFfrS7Q
EURUSD, AUDUSD & AUDJPY Charts Remain Tilted Lower

EURUSD, AUDUSD & AUDJPY Charts Remain Tilted Lower

Paul Robinson, Strategist

Struggling right now? It happens to the best. Check out these four core ideas to help boost your Confidence as a Trader.

EURUSD rising wedge broke, still room to the downside

This is an update from last week: The Euro broke the rising wedge noted on the 4-hr chart, but the price decline so far has been muted with low-volatility trading conditions dominating. There is still room to go, though, before support in the vicinity above 11200 perhaps puts in another floor. It’s a little late to be putting on a swing-trade based on the pattern break, but the short-term trading bias remains tilted in favor of sellers.

Looking for Trading Forecasts and Education to assist you in your trading? We’ve got you covered on the DailyFX Trading Guides page.

EURUSD Daily Chart (A bit more room to support)

EURUSD daily chart, a bit more room to support

AUDUSD Head-and-shoulders support expected to break soon

This is a pattern we have been tracking for the past couple of weeks, with the head and right shoulder developing at downtrend resistance. Aussie is currently putting in a small bounce off neckline support, which keeps the pattern from officially triggering just yet. But a close below the neckline should have AUDUSD rolling downhill towards testing flash-crash levels from Jan 2. I stress close below the neckline because it is support until it isn’t and it’s not officially a H&S pattern until the neckline is snapped.

AUDUSD Daily Chart (H&S pattern testing neckline)

AUDUSD daily chart, H&S pattern testing neckline

AUDJPY ascending wedge broke

This is a good example of why one needs to wait for the breakout of a pattern before running with a bias. The ascending nature of the wedge pattern hinted at increased potential for a bullish breakout, but indeed that is not what we got as yesterday AUDJPY broke to the downside. While it is altogether possible in this low-vol environment it is a fake-out, I will run with the downward bias as long as we don’t see a strong push back inside the pattern around 7950 or higher. The first target is the wedge pattern low at 7740, followed by the flash-crash daily close at 7541 and worse.

AUDJPY Daily Chart (Bearish wedge break)

AUDJPY daily chart, bearish wedge break

Also, on the ‘short’ list is AUDNZD.

***Updates will be provided on these ideas and others in the trading/technical outlook webinars held on Tuesday and Friday. If you are looking for ideas and feedback on how to improve your overall approach to trading, join me on Thursday each week for the Becoming a Better Trader webinar series.

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Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX

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

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