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
More View more
Real Time News
  • While JPY gets clobbered, CHF decides to turn a blind eye to yields $CHF https://t.co/MViWZiiPZ7
  • The surprise 100 basis point cut from the Turkish central bank (to 18%) generated the expected pressure for $USDTRY. That said, I don't think it was the market that decided the momentum should die out at 8.8000 again... https://t.co/4jmOPnzzK9
  • surprised that $NQ is holding up so well with what rates are doing. 10 year yield at a 2 month high, $Nasdaq still holding resistance at prior support https://t.co/UBWBxY2nFC
  • The S&P 500 has recovered all the ground it lost at the start of the week and the Dollar has slumped post FOMC and PMIs. DailyFX's @JohnKicklighter gives a brief overview of the market for Thursday! https://t.co/jihKB44ELn
  • https://t.co/lbNvVbQq4n
  • The future taper isn't enough to urge the Dollar to a critical bullish break. In turn, $EURUSD has reversed shy of of August's trough and keeps in play an inverse head-and-shoulders pattern with a neckline at 1.19 https://t.co/EgUtX6Pmvy
  • USD/CAD testing short-term moving average support. Traders have cut their long exposure over the week. Get your market update from @nickcawley1 here:https://t.co/iEL5cbFnHs https://t.co/6kLkUFkFvU
  • In the West, that qualifies as a default action. Let's see how it is treated in the world's second largest economy https://t.co/PKWy7SE8Dt
  • Some Evergrande offshore bondholders do not expect company to make interest payment by Thursday deadline
  • The flash September US PMIs slowed more sharply than expected. That was a general trend across the developed world with most economies continuing to slow from their post-Pandemic peak recovery paces https://t.co/TgkUDlOyAe
AUDUSD The Long and Short

AUDUSD The Long and Short

Paul Robinson, Strategist

Talking Points:

- Aussie nearing make or break point

- Inverse Head-and-shoulders vs. Bear Flag

- Support/Resistance at 8000/8300

Aussie is attempting to put in a short-term bottom above the all-important 8000 level by carving out a potential inverse head-and-shoulders pattern. It is currently trading at the neckline of this formation with a 4-month trend-line lying just overhead. If it can clear these levels over 8300, then it has a shot at moving up towards 8500. However, if it stays contained below this level, the risk for this reversal pattern becoming a continuation pattern in the form of a bear flag increases significantly. The plan for now, sit tight and watch for either a clean break above 8300 or a bear flag with bearish implications to mature in coming days.

AUDUSD 4-hr: Sep ’14 – Jan ‘15

AUDUSD The Long and Short

--- Written by Paul Robinson, DailyFX Research

To contact Paul, email him at instructor@dailyfx.com

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

DISCLOSURES