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
Bearish
Oil - US Crude
Mixed
Wall Street
Bearish
Gold
Mixed
GBP/USD
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
USD/JPY
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
More View more
Real Time News
  • Has anyone explained the risk of inflation on the markets in terms of tendies?
  • The US Dollar is trying to break higher versus ASEAN currencies. The Singapore Dollar, Philippine Peso, Thai Baht and Indonesian Rupiah are under pressure. Will follow-through last? Get your market update from @ddubrovskyFX here:https://t.co/JOWG9q01q0 https://t.co/j2ICxgrLa3
  • The commodity-sensitive Canadian Dollar may continue outperforming its major counterparts in the coming weeks. USD/CAD, CAD/CHF, CAD/JPY and EUR/CAD key levels to watch. Get your $USDCAD market update from @DanielGMoss here:https://t.co/9bkVXQuP5C https://t.co/cLNEG36mZ8
  • We just closed out the heaviest week of volume for the $SPY (US equities) since June and $TLT (Treasuries) since March 16
  • Get your snapshot update of the of market open and closing times for each major trading hub around the globe here: https://t.co/BgZLFljIhZ https://t.co/YjUfOUY3vU
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.30% 🇨🇭CHF: -0.41% 🇬🇧GBP: -0.62% 🇨🇦CAD: -1.12% 🇳🇿NZD: -1.87% 🇦🇺AUD: -2.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ZdHY0q1ocW
  • #Gold Price Forecast: Gold Breakdown Accelerates – $XAUUSD Bulls Done? - https://t.co/uATlmZg8g6 https://t.co/vIbhg5HOko
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.20% Gold: -2.10% Silver: -2.97% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/UVS4Dowq2o
  • Nasdaq ETF QQQ sees its largest outflow in a month as investors shied away from tech stocks. Get your #Nasdaq market update here:https://t.co/tQU09WVHMD https://t.co/onCVQl0xay
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.13%, while traders in GBP/JPY are at opposite extremes with 67.63%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/PYZh1az5EC
AUD/USD Price Rally Vulnerable Ahead of FOMC, NFP

AUD/USD Price Rally Vulnerable Ahead of FOMC, NFP

Michael Boutros, Strategist

AUD/USD Daily Price Chart

AUD/USD Price Chart - Daily Timeframe

Technical Outlook: Aussie has rallied for the past seven consecutive weeks prices rallying nearly 8% off the December lows. Earlier in the month we noted that, “A breach above the high-day close at 8054 targets channel resistance around ~8100 backed by the 2017 high at 8125 and the 100% extension at 8153. Bottom line: the immediate advance is vulnerable but ultimately a pullback should offer more favorable long-entries.

Prices stalled briefly before rallying into the 2017 high / channel resistance at 8125. The immediate advance is at risk heading into key resistance at 8153/63 where the late-2015 swing highs converges on the 100% extension of the 2016 advance, with basic trendline resistance off the 2013 highs just higher at around ~8180- both areas of interest for possible near-term exhaustion / short-entries.

New to Forex Trading? Get started with this Free Beginners Guide

AUD/USD 240min Price Chart

AUD/USD Price Chart - 240min Timeframe

Notes: A closer look at price action sees the Australian dollar trading within the confines of a well-defined ascending channel formation extending off the December lows. Price rebounded off channel resistance into the close last week and a clear weekly opening-range is now in focus between 8054-8125.

Why does the average trader lose? Avoid these Mistakes in your trading

Bottom line: while the broader outlook remains weighted to the topside, the advance is vulnerable heading into confluence resistance just higher. From a trading standpoint, I’d favor fading strength into structural resistance with a break below 8026 needed to validate that more significant near-term high is in place- such a scenario targets subsequent support objectives at 7956 and 7886/98. A breach above structural resistance would keep the long-bias in play targeting the 50% retracement at 7515.

For a complete breakdown of Michael’s trading strategy, review his Foundations of Technical Analysis mini-series

AUD/USD IG Client Sentiment

AUDUSD IG Client Sentiment
  • A summary of IG Client Sentimentshows traders are net-short AUDUSD- the ratio stands at -2.85 (25.9% of traders are long) – bullishreading
  • Retail has remained net-short since Dec 19th; price has moved 7.1% higher since then
  • Long positions are 1.5% lower than yesterday and 3.4% lower from last week
  • Short positions are 12.5% higher than yesterday and 16.0% higher from last week
  • We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests AUDUSD prices may continue to rise. Traders are further net-short than yesterday and last week, and the combination of current positioning and recent changes gives us a stronger AUDUSD-bullish contrarian trading bias from a sentiment standpoint.

See how shifts in AUD/USD retail positioning are impacting trend- Click here to learn more about sentiment!

---

Relevant AUD/USD Data Releases

AUD/USD Economic Calendar

Other Setups in Play

- Written by Michael Boutros, Currency Strategist with DailyFX

To receive Michael’s analysis directly via email, please SIGN UP HERE

Follow Michael on Twitter @MBForex or contact him at mboutros@dailyfx.com

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

DISCLOSURES