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.

Free Trading Guides
Oil - US Crude
Wall Street
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
  • US equities continue to run higher with the Nasdaq 100 setting a fresh all-time-high, not even three months after giving back almost a third of its value in about a month. Get your #Nasdaq technical analysis from @JStanleyFX here: https://t.co/1LI54uvI8x https://t.co/e9FvSLqfaA
  • The US Dollar may be at risk to losses against some of its #ASEAN counterparts. USD/SGD, USD/PHP, USD/MYR and USD/IDR have recently broken to the downside. Will losses continue? Find out from @ddubrovskyFX here: https://t.co/0RTlj6maTT https://t.co/UyQ4i0AihI
  • The British Pound technical outlook still seems to favor the downside. GBP/CAD may pressure key rising support from August as GBP/AUD could prolong its downtrend. GBP/CHF may fall. Get your $GBP market update from @ddubrovskyFX here: https://t.co/hBOpDKXmfW https://t.co/AJlT2YKeCu
  • USD/JPY is approaching medium-term uptrend resistance and while the outlook remains constructive, the advance may be vulnerable near-term while below confluence resistance. Get your $USDJPY technical analysis from @MBForex here: https://t.co/93D7AyhHtG https://t.co/KQcLLrkMP3
  • AUD/USD has had the most impressive show of trend over the past couple of months with the pair gaining almost 1500 pips from the March low. Get your $AUDUSD technical analysis from @JStanleyFX here: https://t.co/vLz4Rpln3u https://t.co/AOwnJja5V8
  • Has the #Euro been saved? Find out from @CVecchioFX here: https://t.co/eiXfOTyGa6 https://t.co/AyRiYpb4cN
  • U.S. Market Analyst at https://t.co/JsVsSmefgR, Shain Vernier covers - ✔️ Safe haven assets in volatile markets ✔️ Central banks and governments ✔️ How will commodities trade in a recession Only on Trading Global Markets Decoded #podcast. Tune in here: https://t.co/1UmEzEbwiy https://t.co/ygwjGNvS61
  • The $USD, Euro, British Pound and Australian Dollar will all be at the mercy of political developments in Asia, Europe and North America this week. An avalanche of PMI data will set the backdrop. Find out from @ZabelinDimitri here: https://t.co/L8cfAgVx94 https://t.co/THWhPAS6AM
  • The price of #gold plunged 1% immediately after the stunning US jobs report crossed the wires. Get your market update from @RichDvorakFX here: https://t.co/8i0L6YIqjy https://t.co/y9dIXazJf9
  • S&P 500, Dow Jones, Nasdaq explode higher with stocks surging in response to shockingly better-than-expected monthly jobs data. Get your #equities market update from @RichDvorakFX here: https://t.co/nuMVWOzzuC https://t.co/M3nGBjd7kZ
Guest Commentary: Trading 'Frustration' can be very profitable! AUDUSD

Guest Commentary: Trading 'Frustration' can be very profitable! AUDUSD

2012-07-25 13:47:00
Ed Matts, MarketVisionTV.com,

* The sharp decline from below the 1.0470 resistance suggests the rally is over...for now.

* However, a likely 1.0180 target and trend support should contain weakness into next week for another attempt at the highs.

* As this rally, fades we will sell again...

Guest_Commentary_Trading_Frustration_can_be_very_profitable_AUDUSD_body_AUD2507.png, Guest Commentary: Trading 'Frustration' can be very profitable! AUDUSD

The strong reversal from a 1.0440-45 equality target encourages the view that the Aussie has finished the first leg of the major three legged triangle recovery highlighted in the daily perspective below the strong 1.0470 resistance.

However we label the rally probably doesn’t make a lot of difference except that the steady un-dramatic rally comprising 3 waves in both directions does suggest a leading diagonal or wedge and therefore a strong corrective decline... a B wave.

As such the drop to 1.0240 23.6% is enough in the short term for 1.0240-1.0330 consolidation, 1.03330 being the former secondary high with a chance though to extend to channel support now at 1.0180 to complete the first leg of a larger corrective decline. However, either way the Aussie weakness should be limited for most of this week as it recovers to 1.0330-60 61.8%.

We will look to sell this strength again 1.0445 though for eventual break down to 1.0015 the 38.2% with potential for 1.0010 even 99.10 the 50-61.8%. A rally over 1.0445 though threatens to spike 1.0470 straight to 1.0600-80 the eventual major triangle objective.

Further videos or commentaries are available from www.marketvisiontv.com or @EdMatts on Twitter.

Would you like to see more third-party contributors on DailyFX? For questions and comments, please send them to research@dailyfx.com

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


News & Analysis at your fingertips.