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
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
Mixed
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Make smart trading decisions with your free guide to trade the news. Download your free guide here.https://t.co/pb5E2KgRzW #DailyFXGuides https://t.co/E9ZmJvqO0z
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here: https://t.co/4jsORznRTE https://t.co/fqxw1AoKc1
  • Gold snapped a two-week losing streak but keeps price within the broader August downtrend. These are the levels that matter on the $XAUUSD weekly chart. Get your market update from @MBForex here: https://t.co/B3Jct6mIBD https://t.co/xTGIM2hRBv
  • $GBPUSD continues to move higher, despite Friday’s weakness, as vaccination hopes continue to fuel positive sentiment despite ongoing lockdown fears and downbeat UK data. Get your market update from @nickcawley1 here: https://t.co/S8UoHzOwFN https://t.co/qI6UZdggvM
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/6wxX6oQurn
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here: https://t.co/e4CnobJCss https://t.co/w009tJEQZn
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/rfwUWJfbz9 https://t.co/2AeO1AdD2M
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here: https://t.co/ZNs4Qi8ieG https://t.co/INJz4NSugQ
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZX8cS https://t.co/qdrsi61CN8
  • It seems the markets are riding high, but risk is always lurking around the corner. Consider your escape plan before you find yourself in collapsing market. What are the top havens for different conditions in 2021? Find out from @JohnKicklighter here: https://t.co/1oeXWEsJkb https://t.co/IyQdfq29fz
Retail AUD/USD Crowd Turns Net-Short Ahead of China CPI

Retail AUD/USD Crowd Turns Net-Short Ahead of China CPI

David Song, Strategist

Talking Points:

- AUD/USD Rebound Vulnerable to Slowing China Inflation- Opening Monthly Range in Focus.

- XAU/USD Outlook Remains Bearish; Close Below $1227-$1231 to Trigger Further Losses.

- USDOLLAR Risks Larger Correction as RSI Continues to Fall Back From Overbought Territory.

For more updates, sign up for David's e-mail distribution list.

AUD/USD

AUD/USD Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • AUD/USD breaks out of descending channel even after the rate cuts from the Reserve Bank of Australia (RBA) and the People’s Bank of China (PBoC).
  • Looks poised for a large rebound as the Relative Strength Index (RSI) comes off of oversold territory; will keep a close eye on China’s Consumer Price Index (CPI) which is expected to slow to an annualized 1.0% in January, which would mark the slowest rate of growth since November 2009.
  • DailyFX Speculative Sentiment Index (SSI) may foreshadow a larger shift in retail positioning as crowd turns net-short AUD/USD, with the ratio currently standing at -1.06.

XAU/USD

XAU/USD Daily Chart
  • Looks as though former resistance around $1227 (23.6% expansion) to $1231 (78.6% retracement) will act as near-term support, but favor the approach to sell-bounces in Gold as it fails to retain the bullish RSI momentum.
  • Want a break & close below the near-term support region to favor a further decline as the precious metal continues to carve a series of lower-highs.
  • Will favor the downside targets as a bearish trend takes shape on the RSI, with the next region of interest coming in around $1218 (78.6% expansion).

Join DailyFX on Demand for Real-Time SSI Updates Across the Majors!

Read More:

Price & Time: USD/SEK Leading The Way Again?

EURUSD Reacts to Long Term Slope and Fibonacci Levels

USDOLLAR(Ticker: USDollar):

Index

Last

High

Low

Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index

11821.91

11839.59

11807.63

-0.03

45.41%

Retail AUD/USD Crowd Turns Net-Short Ahead of China CPIUSDOLLAR Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • Dow Jones-FXCM U.S. Dollar monthly opening range in focus as the RSI comes off of overbought territory; will keep a close eye on the ascending channel from back in July as the greenback faces a risk for a larger correction.
  • Nevertheless, long-term outlook remains bullish as the pickup in job/wage growth fuels expectations of seeing a Fed rate hike in mid-2015.
  • Former resistance zones remain in focus with the first area of interest coming around 11,721 (38.2% expansion).

Join DailyFX on Demand for Real-Time SSI Updates!

Release

GMT

Expected

Actual

Labor Market Conditions Index (JAN)

15:00

--

4.9

Click Here for the DailyFX Calendar

--- Written by David Song, Currency Analyst

To contact David, e-mail dsong@dailyfx.com. Follow me on Twitter at @DavidJSong.

To be added to David's e-mail distribution list, please follow this link.

Trade Alongsidethe DailyFX Team on DailyFX on Demand

Looking to use the DailyFX Trade Signals LIVE? Check out Mirror Trader.

New to FX? Watch this Video

Join us to discuss the outlook for the major currencies on the DailyFXForums

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

DISCLOSURES