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
EUR/USD
Bearish
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
Bearish
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
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
More View more
Real Time News
  • Have you been catching on your @DailyFX podcast "Global Markets Decoded"? Catch up on them now, before new episodes release! https://t.co/Twr44cZ1GB https://t.co/oo0ClrQKLK
  • The Malaysian #Ringgit fell today after Malaysian Q2 GDP contracted -17.1% y/y (vs -10.9% expected) This leaves $USDMYR closer towards facing key resistance above Dominant outlook remains bearish however, check out this week's #ASEAN tech outlook here - https://t.co/yR4bEV3NCe https://t.co/xjPPs3RD5D
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/S9CEcB4urE https://t.co/XhXvSI8ECM
  • 🇯🇵 Tertiary Industry Index MoM (JUN) Actual: 7.9% Previous: -2.1% https://www.dailyfx.com/economic-calendar#2020-08-14
  • Heads Up:🇯🇵 Tertiary Industry Index MoM (JUN) due at 04:30 GMT (15min) Previous: -2.1% https://www.dailyfx.com/economic-calendar#2020-08-14
  • Multiple time frame analysis follows a top down approach when trading and allows traders to gauge the longer-term trend while spotting ideal entries on a smaller time frame chart. Learn how to incorporate multiple time frame analysis here: https://t.co/HnzQcAXWLU https://t.co/nRLUAAEc7t
  • #EURUSD may be forming a Head and Shoulders top on the daily chart. Confirmation on a break of neckline support may open the door for a break toward the 1.15 figure. https://t.co/iXOwXxCEjc
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/3FsnNdo7VK https://t.co/lC69rPbkcJ
  • $AUDUSD just weakened slightly following disappointing Chinese industrial production and retail sales data What is the Aussie facing over the next 24 hours and heading into next week? #AUD https://www.dailyfx.com/forex/market_alert/2020/08/14/Australian-Dollar-Outlook-Eyes-SP-500-Retail-Sales-After-Chinese-Data.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/b9pmxMkp8o
  • 🇨🇳 Unemployment Rate (JUL) Actual: 5.7% Previous: 5.7% https://www.dailyfx.com/economic-calendar#2020-08-14
Forex Trading: Australian Dollar Patterns of Interest Before Chinese GDP

Forex Trading: Australian Dollar Patterns of Interest Before Chinese GDP

2013-01-17 20:40:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

The Australian Dollar may be completing long term topping patterns against the Euro and New Zealand Dollar. The AUDCAD also rests at a trendline confluence.

Euro / Australian Dollar

Daily Bars

Forex_Trading_Australian_Dollar_Patterns_of_Interest_Before_Chinese_GDP_body_euraud.png, Forex Trading: Australian Dollar Patterns of Interest Before Chinese GDP

Prepared by Jamie Saettele, CMT

FOREXAnalysis: The EURAUD is again threatening the neckline from the inverse head and shoulders pattern that begin in February 2012. If this break materializes then long term objectives don’t begin until the March 2011 high at 14343 (see the monthly chart below for perspective). Bulls must contend with the 2012 high at 13030 before then of course. Near term conditions must be described as range until price overcomes the 1/2 high at 12726.

FOREX Trading Strategy: I’m standing aside until price trades through 12726.

Euro / Australian Dollar

Monthly Bars

Forex_Trading_Australian_Dollar_Patterns_of_Interest_Before_Chinese_GDP_body_euraud_1.png, Forex Trading: Australian Dollar Patterns of Interest Before Chinese GDP

Prepared by Jamie Saettele, CMT

Australian Dollar / Canadian Dollar

Daily Bars

Forex_Trading_Australian_Dollar_Patterns_of_Interest_Before_Chinese_GDP_body_audcad.png, Forex Trading: Australian Dollar Patterns of Interest Before Chinese GDP

Prepared by Jamie Saettele, CMT

FOREXAnalysis: The AUDCAD is failing at trendline resistance. Daily RSI (not shown) has been unable to break through the 60 barrier, which is typical of at least a near term top. Still, the presence of trendline resistance doesn’t mean it can’t be broken. Bears aren’t out of the woods until price can break below 10285.

FOREX Trading Strategy: I’m cautiously bearish now against 10441 and would turn more bearish on a break (daily close) below 10285.

Australian Dollar / New Zealand Dollar

Weekly Bars

Forex_Trading_Australian_Dollar_Patterns_of_Interest_Before_Chinese_GDP_body_audnzd.png, Forex Trading: Australian Dollar Patterns of Interest Before Chinese GDP

Prepared by Jamie Saettele, CMT

FOREXAnalysis: If 2013 is ‘the year of the breakout’, then the next big AUDNZD move is probably lower…a lot lower. A multiyear head and shoulders top is complete in the AUDNZD. After a false break in December, price is once again below the neckline. Weakness below October’s low (12370) is needed to get comfortably bearish. Until then, this is a range.

FOREX Trading Strategy: Weakness below October’s low (12370) is needed to get comfortably bearish. Until then, this is a range.

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

To contact Jamie e-mail jsaettele@dailyfx.com. Follow me on Twitter for real time updates @JamieSaettele

Subscribe to Jamie Saettele's distribution list in order to receive actionable FX trading strategy delivered to your inbox.

Jamie is the author of Sentiment in the Forex Market.

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

DISCLOSURES

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.