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  • The gold price rebound keeps XAU/USD within the confines of the August downtrend. From a trading standpoint. Get your $XAUUSD market update from @MBForex here:https://t.co/B3Jct6mIBD https://t.co/gHAtO2jcrp
  • Gold recovered from a steep sell-off this morning to finish the day just lightly lower $XAU $USD https://t.co/lkcyL8gts9
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.05% 🇨🇭CHF: 0.01% 🇯🇵JPY: -0.25% 🇳🇿NZD: -0.55% 🇦🇺AUD: -0.64% 🇨🇦CAD: -0.75% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/UVTYrLMwRS
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.54% Gold: -0.87% Silver: -1.82% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/3BoduI6beG
  • Earnings season is underway and key tech leaders are set to report next week. Get your #Dowjones market update from @PeterHanksFX here:https://t.co/vAesS48lgG https://t.co/es8tChHx3y
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in Wall Street are at opposite extremes with 66.20%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/cFre7YkQsc
  • The heaviest concentration for potential market volatility in scheduled events next week seems to me to be Tuesday-Wednesday: https://t.co/DyDASx24zL
  • EUR/USD slightly stronger, still trading below ECB's "key" 1.22 level $EUR $USD https://t.co/M7vGf4BWQI
  • Next week's economic docket includes (among many things): 4Q US and European GDP figures; the FOMC rate decision and the IMF's 2021 world economic outlook. But given this market, would be surprised if Tesla earnings (Wed after the close) didn't rouse the most attention/impact
  • Indices Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.12% FTSE 100: 0.08% France 40: 0.08% Wall Street: 0.00% US 500: -0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/hRkA9W16rB
Is this Australian Dollar Rally the Real Deal? Probably Not

Is this Australian Dollar Rally the Real Deal? Probably Not

David Rodriguez, Head of Product

- Australian Dollar trades at critical resistance, fails to break higher

- Strong disconnect from Gold prices warns Aussie$ rallies may be at risk

- Sharp shift in retail FX sentiment warns we’re at make-or-break levels

The Australian Dollar trades at critical trendline and moving average resistance versus the US Dollar. But key FX correlations suggest it will run out of steam.

Follow any updates on the Australian Dollar and other currencies via the DailyFX Forex Realtime News Feed, and sign up for research via e-mail via this author’s distribution list.

Forex Correlations SummaryView forex correlations to the S&P 500, S&P Volatility Index (VIX), Crude Oil Futures prices, US Treasury Yields, and Spot Gold prices.

forex-trading-Australian-Dollar-forecast-to-stall-at-critical-resistance_body_Picture_5.png, Is this Australian Dollar Rally the Real Deal? Probably Not

Data source: Bloomberg. Chart source: R SEE GUIDE ON READING THE ABOVE CHART

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com David specializes in automated trading strategies. Find out more about our automated sentiment-based strategies on DailyFX PLUS.

Contact and follow David via Twitter: https://twitter.com/DRodriguezFX

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

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