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
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
Oil - US Crude
Bullish
Wall Street
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
Gold
Mixed
GBP/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
USD/JPY
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
  • Fed's Kaplan: Because cryptocurrencies lack the same underlying worth like gold, investors must exercise caution
  • Fed's Kaplan: - If supply-demand imbalances persist, there is concern that they will become rooted in inflation expectations - Upon emerging from the pandemic, we should begin to discuss tapering QE
  • Fed's Kaplan: - Fed should discuss tapering sooner rather than later - I am concerned about the economy's excesses and imbalances, as well as the housing sector
  • Fed's Kaplan: - We are determining how long it would take to correct imbalances - The Fed is committed to a 2% inflation target and 2% inflation projections
  • Despite inflation fears rearing their head with rippling effects across global financial markets, gold prices have enjoyed a strong run since early April. Get your market update from @CVecchioFX here:https://t.co/xXnc1XD3Lp https://t.co/Qqdee3e9yz
  • As we close out in what has been a volatile week, GBP/USD is on the front foot with the pair nearing its weekly highs having reclaimed the 1.41 handle. Get your $GBPUSD market update from @JMcQueenFX here:https://t.co/neGBchlJ0O https://t.co/45DDtMSTKg
  • UK PM Johnson: - To move forward with Monday's planned easing of restrictions - June 21 easing could be more difficult - Does not believe reopening needs to be delayed at this time
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.37%, while traders in France 40 are at opposite extremes with 72.95%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/MGlT6DIgTb
  • UK PM Johnson: - We have seen further clusters of India covid variant - If the variant is significantly more transmissible we will face hard choices - Good news is that there is no evidence that vaccines are less effective against the new variant $GBP $GBPUSD #FTSE100
  • The Nasdaq Composite has faced heavy selling pressure amid surging Treasury yields. Get your #Nasdaq market update from @RichDvorakFX here:https://t.co/QPzBgW6fwm https://t.co/VDV5FBjiLM
AUD/USD Fails to Make Significant Progress as Price Ranges

AUD/USD Fails to Make Significant Progress as Price Ranges

Walker England, Forex Trading Instructor

Talking Points

The AUD/USD continues to consolidate today, after moving to new weekly lows late in Wednesdays trading. The weekly low for the AUD/USD currently resides at .7452, and this value comprises a key point of support for an ongoing trading range. Resistance has been noted in the graph below as the last swing high for July 19, found at a price of .757. As prices continue to range traders should continue to track short-term momentum, coupled with support and resistance, to pinpoint any future breakouts in price.

AUD/USD, 1 Hour Chart

AUD/USD Fails to Make Significant Progress as Price Ranges

(Created by Walker England)

In the graph below, we can see the AUD/USD moving on range resistance after a short-term uptrend. The Grid Sight Index has identified this short-term move higher by pinpointing a series of higher highs on the 3-minute chart. After considering 50,730,730 pricing points, GSI has also indicated that price action has advanced a minimum of eight pips in 42% of the 55 matching historical events. This places today’s first historical price distribution at .7513. A move to this point would be significant, as it would open the AUD/USD to breakout from the previously mentioned trading range.

Alternatively, traders may look for a retracement in price if price begin to turn back towards range support. The Grid Sight Index found prices declined 9 pips in 48% of the reviewed historical matches. A move through the first bearish distribution, found at .7496, would open the pair for further declines. It should be noted that prices only fell 33 pips, in only 3% of historical instances. This places today’s final bearish distribution at a price of .7472.

Want to learn more about GSI? Get started learning about the Index HERE.

AUD/USD 3 Minute GSI Chart

AUD/USD Fails to Make Significant Progress as Price Ranges

SSI for the AUD/USD is currently reading at +1.06. While 51% of positioning long, this neutral SSI reading is indicative of the current consolidating market. If the AUD/USD breaks lower, traders should look for SSI to read positive, and move towards an extreme of +2.0 or more. Alternatively, if the AUD/USD breaks above support, SSI may flip back to a negative reading.

AUD/USD Fails to Make Significant Progress as Price Ranges

To Receive Walkers’ analysis directly via email, please SIGN UP HERE

See Walker’s most recent articles at his Bio Page.

Contact and Follow Walker on Twitter @WEnglandFX.

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

DISCLOSURES