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.

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
Bullish
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
Oil - US Crude
Bearish
Wall Street
Mixed
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
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Amid global equities climbing higher, the Japanese Yen has seen demand fade, particularly after a bout of disappointing Japanese economic data. Get your $JPY market update from @CVecchioFX here: https://t.co/vBNpDHIRbq https://t.co/0Q8pHpdw3z
  • Canadian #Dollar Outlook: $USDCAD Pullback to Offer Opportunity - #Loonie Levels - https://t.co/eBhP0fhmk8 https://t.co/nE6pCQcLeH
  • Silver prices have struggled to set support over the past week, but today’s move is encouraging for Silver bulls and there may be scope for topside continuation. Get your $XAG market update from @JStanleyFX here:https://t.co/IXGwt7iWOY https://t.co/oGfeq9BhUx
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 2.91% Gold: 1.18% Oil - US Crude: 0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/DguhEbR3xk
  • Mnuchin and Pelosi plan to continue talks on stimulus later today - BBG
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.36%, while traders in Wall Street are at opposite extremes with 64.60%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/1hXd5NIVwS
  • $SPX battling it out at resistance. same zone that was in-play mid-August, and was also the prior ath set in Feb $ES $SPY https://t.co/lgu4PPk1cK
  • 🇧🇷 Balance of Trade (SEP) Actual: $6.2B Expected: $7.1B Previous: $6.6B https://www.dailyfx.com/economic-calendar#2020-10-01
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: US 500: 0.43% Germany 30: 0.01% Wall Street: 0.00% France 40: -0.03% FTSE 100: -0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/RJRCefPXqH
  • Check out the @DailyFX Trader Education Center for detailed insight on how to trade pennant chart patterns plus more found at the link below: https://www.dailyfx.com/education/technical-analysis-chart-patterns/pennant-pattern.html/?ref-author=Dvorak
AUD/USD Recovery May Prove Limited As Hammer Lacks Confirmation

AUD/USD Recovery May Prove Limited As Hammer Lacks Confirmation

2014-05-23 07:28:00
David de Ferranti, Currency Analyst
Share:

Talking Points

  • AUD/USD Technical Strategy: Sidelines Preferred
  • 0.9210 continues to act as support
  • Harami on the four hour chart hints at a bounce

The Australian Dollar bulls remain prepared to support the currency at the 0.9210 mark for now. However, with a key reversal candlestick pattern absent on the daily a recovery may be limited. This comes following the Hammer formation failing to receive confirmation from a successive up-day. Sellers are likely sitting at the psychologically-significant 0.9300 handle.

AUD/USD: Support Holds At 0.9210

AUD/USD Recovery May Prove Limited As Hammer Lacks Confirmation

Daily Chart - Created Using FXCM Marketscope 2.0

A Harami pattern on the four hour chart is hinting at a bounce in intraday trade. However, again a recovery may be capped by selling pressure at the 0.9300 mark.

AUD/USD: Harami Pattern Hints At A Bounce In Intraday Trade

AUD/USD Recovery May Prove Limited As Hammer Lacks Confirmation

4 Hour Chart - Created Using FXCM Marketscope 2.0

By David de Ferranti, Currency Analyst, DailyFX

Follow David on Twitter: @Davidde

To receive David’s analysis directly via email, please sign up here

Learn how to read candlesticks to help identify trading opportunities with the DailyFX Candlesticks Video Course.

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

DISCLOSURES