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
Breaking news

Chinese PMI Data Beats Estimates. Manufacturing 52.0, Est 44.8, Non-Manufacturing: 52.3, Est 42.0

Real Time News
  • #CrudeOil prices rise over 7% in Asia trade in the aftermath of rosy March China PMI data - https://t.co/3hvZXv4xij
  • My trading video for today: '#Dow and S&P 500 Slow Advance a Best Outcome, G7 and Chinese PMI Ahead' https://www.dailyfx.com/forex/video/daily_news_report/2020/03/31/Dow-and-SP-500-Slow-Advance-a-Best-Outcome-G7-and-Chinese-PMI-Ahead.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/JFyPe0UWjq
  • Foreign exchange – or “#forex” – markets often pay close attention to politics and central bank policy. We offer a model for traders to gauge their impact on exchange rates. Get your market insight from @ZabelinDimitri and @CVecchioFX here: https://t.co/FbXc1Awu6a https://t.co/IZlYdXrnLm
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 6.93% Silver: 0.73% Gold: -0.41% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/wMbZni4GxM
  • "However, this downgrade may be the canary in the coalmine for other emerging market economies that may spread to their OECD counterparts" https://www.dailyfx.com/forex/fundamental/article/special_report/2020/03/30/Euro-May-Rise-on-ESM-Crude-Oil-Selloff-Deepens-on-OPEC-Price-War.html
  • You can't see it, but I have a seriously dubious look on my face https://t.co/vOEfdaHwyg
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.18% 🇦🇺AUD: -0.13% 🇨🇦CAD: -0.22% 🇪🇺EUR: -0.27% 🇬🇧GBP: -0.69% 🇯🇵JPY: -0.70% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/XyAyUgqavm
  • LIVE NOW! APAC Head Strategist @IlyaSpivak discusses the technical and fundamental $AUDUSD outlook for the week ahead here - https://www.dailyfx.com/webinars/378612179?CHID=9&QPID=917720&utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 95.82%, while traders in US 500 are at opposite extremes with 72.90%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/el9cpkaZNX
  • The $USD may rise versus the Singapore Dollar, Indonesian Rupiah and Malaysian Ringgit if capital flows out of #ASEAN countries as key U.S. data risks a selloff in equities. Get your market update from @ddubrovskyFX here: https://t.co/JWIRn6MLrK https://t.co/W3zdKcvSCJ
ASX 200, Nikkei 225 Price Trends May Be Defined at Current Levels

ASX 200, Nikkei 225 Price Trends May Be Defined at Current Levels

2020-03-05 05:00:00
Ilya Spivak, Head Strategist, APAC


  • ASX 200 recoils from record high to suffer the worst decline in 11 years
  • Nikkei 225 already on the precipice of breaking structural rising trend
  • Both stock indexes flirt with piercing the bounds of post-crisis recovery

Coronavirus outbreak fears delivered the worst week since September 2008 – the heart of the global financial crisis – for Australia’s benchmark ASX 200 stock index. It plunged from a record high to erase six months of gains in just five days, landing at support-turned-resistance in the 6358-96 area.

Breaking below that initially exposes an inflection level at 6150, with the psychologically significant 6000 handle eyed thereafter. These are relatively minor barriers however. Prices have stalled in their vicinity before, but they have not shown a capacity to force lasting directional change.

This suggests that sellers may have scope to challenge structural support establishing the 11-year post-crisis recovery if current support has been conclusively overcome. Confirmation on that score will probably have to be secured on a closing basis to make for a compelling setup.

ASX 200 stock price chart - weekly

ASX 200 weekly chart created using TradingView

Starts in:
Live now:
Apr 06
( 08:04 GMT )
Recommended by Ilya Spivak
Top Asia Pacific Market Drivers Traders Should Watch this Week
Register for webinar
Join now
Webinar has ended

Japan’s Nikkei 225 stock index appears to be in an even more precarious position. Its recent selloff – marking the worst week in four years – has already brought it to the outer layer of its post-crisis trend support (Japanese shares idled after global markets bottomed in March 2009, waiting until late 2012 to rally in earnest).

Breaking lower from here – again, with confirmation on a closing basis – might set the stage for truly tectonic liquidation. Recovering above the 22505-630 support-turned-resistance area seems to be a prerequisite for neutralizing near-term selling pressure.

Nikkei 225 stock price chart - weekly

Nikkei 225 weekly chart created using TradingView


--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

To contact Ilya, use the Comments section below or @IlyaSpivak on Twitter

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


News & Analysis at your fingertips.