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.

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
Oil - US Crude
Mixed
Wall Street
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
Gold
Bearish
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
Bullish
More View more
Real Time News
  • Want to make trading decisions with confidence? Download you free guide to avoid hesitations in your trading decisions.https://t.co/00I3lH90OD #DailyFXGuides https://t.co/PxMMjweLAz
  • Euro Technical Analysis: EUR/USD, EUR/JPY, EUR/GBP Key Levels - https://www.dailyfx.com/forex/technical/home/analysis/eur-usd/2021/01/28/Euro-Technical-Analysis-EURUSD-EURJPY-EURGBP-Key-Levels.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $EUR $EURUSD $EURGBP $EURJPY https://t.co/7whQ6jRyAo
  • 🇫🇮 Unemployment Rate (DEC) Actual: 7.8% Previous: 6.9% https://www.dailyfx.com/economic-calendar#2021-01-28
  • Heads Up:🇫🇮 Unemployment Rate (DEC) due at 06:00 GMT (15min) Previous: 6.9% https://www.dailyfx.com/economic-calendar#2021-01-28
  • We are facing an existential question Thursday: is the enthusiasm for speculative favorites like GameStop the baseline for markets or the nascent $SPX drop ($VIX charge)? And, what can data like US 4Q GDP influence? My outlook for Thursday: https://www.dailyfx.com/forex/video/daily_news_report/2021/01/28/SP-500-Breaks-Lower-as-VIX-Soars-Will-Tesla-and-Apple-Overshadow-Gamestop.html https://t.co/ppzpUfDuGx
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in GBP/JPY are at opposite extremes with 68.25%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/un4cXxQsln
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM7kO6a https://t.co/j1x2s8OmBt
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: -0.07% 🇬🇧GBP: -0.10% 🇪🇺EUR: -0.13% 🇯🇵JPY: -0.20% 🇳🇿NZD: -0.29% 🇦🇺AUD: -0.39% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/2cAp4ZgzJr
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.20% US 500: -0.40% France 40: -0.60% Germany 30: -0.62% FTSE 100: -0.84% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/snDymKUOcZ
  • AMC (6.75bln mkt cap) turned over 1.25 billion shares this past session for a 300% gain. Meanwhile Apple (2.4 tln mkt cap) only did 140 mln shares on an earnings day for a -0.8% loss
AUD/USD Post-FOMC Rally at Risk Ahead of Australian Labor Report

AUD/USD Post-FOMC Rally at Risk Ahead of Australian Labor Report

Michael Boutros, Strategist

Talking Points

  • AUDUSD surges post FOMC- Weekly opening-range high in view
  • Key Australian Labor Report to threaten the near-term reversal
  • Immediate focus is higher- broader bullish invalidation at 7400

AUDUSD 30min

AUD/USD Post-FOMC Rally at Risk Ahead of Australian Labor Report

Chart Created Using FXCM Marketscope 2.0

Technical Outlook: AUDUSD reversed course sharply on the back of today’s FOMC interest rate decision where the committee cited a more dovish tone on the outlook for rates moving forward. The reversal has taken Aussie back through the weekly open with the pair looking to mark a daily outside reversal candle (bullish).

Interim resistance is being tested at the 78.6% retracement of the decline at 7554 with a breach above confluence resistance at the weekly opening-range high / the April low-day close at 7590/92 targeting a more critical resistance zone at 7644/52. This level is defined by the 61.8% retracement of the May decline and the 1.6185% extension of the advance off the 2016 low. Interim support rests at 7481/89 backed by 7442 & our bullish invalidation level at 7407. Continue tracking this setup and more throughout the week- Subscribe to SB Trade Desk and take advantage of the DailyFX New Subscriber Discount!

Avoid the pitfalls of near-term trading strategies by steering clear of classic mistakes. Review these principles in the "Traits of SuccessfulTraders” series.

AUD/USD Post-FOMC Rally at Risk Ahead of Australian Labor Report
  • The DailyFX Speculative Sentiment Index (SSI) shows retail crowd remains net-short AUD/USD since March 1st with positioning climbing to an extreme of -2 early in the month
  • Retail FX sentiment continues to move away from recent extremes as the ratio currently stands at -1.49 even as short positions have fallen 25% from the previous week- suggesting that short interest may be waning

Why and how do we use the SSI in trading? View our video and download the free indicator here

Relevant Data Releases This Week

AUD/USD Post-FOMC Rally at Risk Ahead of Australian Labor Report

Other Setups in Play:

Looking for more trade ideas? Review DailyFX’s Top Trading Opportunity of 2016

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

Follow Michaelon Twitter @MBForex contact him at mboutros@dailyfx.com or ClickHere to be added to his email distribution list

Join Michael for Live Scalping Webinars on Mondays on DailyFX and Tuesday, Wednesday & Thursday’s on SB Trade Desk at 12:30 GMT (8:30ET)

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

DISCLOSURES