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
Bullish
Oil - US Crude
Bearish
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
Wall Street
Mixed
Gold
Bullish
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • A recession is typically accompanied by falling stock prices, but equities are not the be-all and end-all for recession investment strategies. Get your market update from @PeterHanksFX here: https://t.co/H0Rf3AkECs https://t.co/5Il5ptMnMu
  • The $USD may rise versus the Singapore Dollar, Indonesian Rupiah and Malaysian Ringgit if capital flows out of #ASEAN countries as key U.S. data risks a selloff in equities. Get your market update from @ddubrovskyFX here: https://t.co/JWIRn6MLrK https://t.co/y2tXiYs9aV
  • The $USD may be at risk as trader positioning warns that the S&P 500 may bounce as markets look forward to fiscal stimulus. USD/CAD could rise if key support holds down the road.Get your market update from @ddubrovskyFX here:https://t.co/TMq9VZbZ7W https://t.co/H6I3MXjW06
  • As prices dance around on charts, traders are often looking for reasons to explain price movements; however, the underlying source of price movement boils down to the relationship between supply and demand. Learn more about the forces of S&D on forex here: https://t.co/8LfkLXbj2W https://t.co/ZsHdd9NFcO
  • The $USD may be at risk as trader positioning warns that the S&P 500 may bounce as markets look forward to fiscal stimulus. USD/CAD could rise if key support holds down the road.Get your market update from @ddubrovskyFX here:https://t.co/TMq9VZbZ7W https://t.co/TisnGYxllM
  • Here my weekend trading video 'Dow, VIX, Dollar and Gold: Levels and Volatility to Gauge the Markets' https://www.dailyfx.com/forex/video/daily_news_report/2020/03/28/Dow-VIX-Dollar-and-Gold-Levels-and-Volatility-to-Gauge-the-Markets-.html?ref-author=Kicklighter&QPID=917719&CHID=9
  • #Silver and #gold prices have had a fascinating 2020, counterintuitively falling as the #coronavirus’ economic hit has become horribly apparent. A rebound is now afoot. Get your market update from @DavidCottleFX here: https://t.co/nng7lwQ22E https://t.co/JwehIVbBA2
  • Foreign exchange – or “#forex” – markets often pay close attention to politics and central bank policy. We offer a model for traders to gauge their impact on exchange rates. Get your market insight from @ZabelinDimitri and @CVecchioFX here: https://t.co/FbXc1Awu6a https://t.co/mcq5Bq2Jui
  • The $USD soared against the Indonesian Rupiah, with USD/IDR eyeing its best month since the 1997-98 Asia financial crisis amid the #coronavirus outbreak. Can this trend continue? Find out from @ddubrovskyFX here:https://t.co/M3sDZOftrE https://t.co/sbIbp68UOh
  • The $USD may be at risk as technical signals show USD/SGD, USD/MYR and USD/IDR may turn lower. Ahead, the markets will likely weigh US fiscal stimulus bets against dismal data risk. Get your market update from @ddubrovskyFX here:https://t.co/iGqBrY6qyO https://t.co/kJ89YgK3Mm
The AUD/USD Hits New Weekly Lows After US Data

The AUD/USD Hits New Weekly Lows After US Data

2016-06-14 16:10:00
Walker England, Forex Trading Instructor
Share:

Talking Points

  • The AUD/USD Trends Downward after US Advanced Retail Sales Figures
  • Bearish Momentum is Set to Continue at .7354
  • Bullish Distributions Begin at .7371, Signaling a Potential Reversal in Price

The AUD/USD has traded to new weekly lows as US Advanced Retail Sales beat expectations this morning. Estimates were set at 0.3%, but released at 0.5%. This news has caused the US Dollar to appreciate against most of the majors including the Aussie Dollar. Traders tracking the AUD/USD should note that the pair continues to trade beneath the 30min 200 period MVA. This suggests that the current trend is down, and allow traders an opportunity to move into shorter time frames to identify fresh bearish momentum for the pair.

Looking for additional trade ideas for US Dollar Pairs? Check out our Trading Guide

AUD/USD 30 Minute Chart with 200 MVA

The AUD/USD Hits New Weekly Lows After US Data

(Created using Grid Sight Index)

Monitor GSI in Real time! Get started HERE.

Displayed in the graph below, we can now see the AUD/USD turning off of its most recent swing high at.7382. This short-term downtrend has been temporarily stalled as prices have created a series of higher highs, which have been identified with a blue line on the chart below. However, despite this retracement, the Grid Sight Index has reviewed 37,771,321 matching pricing points and identified that prices have declined a minimum of of 18 pips in 54% of the 218 matching events. If prices reach this first bearish distribution point, it opens the AUD/USD to test lower levels. This includes the next bearish distribution point found at .7346.

Traders watching for an AUD/USD reversal should watch for a move towards .7395. From the 218 matching events identified by GSI, the market advanced 32 pips in only 5% of these instances. Being the smallest distribution from the data set, it suggests a movement to this point. In this scenario, traders should next watch for the final bearish distribution at .7420. A move to this point would represent a 48-pip decline and only occurred in 5% of the 110 matching events.

The AUD/USD Hits New Weekly Lows After US Data

What is GSI?

Grid Sight Index is a powerful big data indicator that can help you determine whether short-term trends will continue or reverse. GSI takes a snapshot of current price action and uses that to find similar events by studying millions of historical data points. Then it studies those events to show you how often the trend continued or reversed in the past.

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

News & Analysis at your fingertips.