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
Oil - US Crude
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
Wall Street
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
Gold
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
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • Sterling up against the USD but lower against a range of other currencies. Get your $GBPUSD market update from @nickcawley1 here:https://t.co/2Cc6ksXCoc https://t.co/dPDu6AXa2Y
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.31%, while traders in US 500 are at opposite extremes with 70.06%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/l5V3Zu8IGr
  • LIVE NOW: Join Technical Strategist @MBForex for his Weekly Strategy Webinar to review the setups we're tracking into the open of the week! - https://t.co/chKtG7ezG9
  • Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.67% 🇨🇭CHF: 0.59% 🇦🇺AUD: 0.54% 🇬🇧GBP: 0.18% 🇨🇦CAD: 0.08% 🇯🇵JPY: -0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Uthb7GJgI0
  • Weekly Strategy Webinar starting in 15mins on DailyFX! https://t.co/lxd5fZ5LG7
  • Forex trading, which is the act of exchanging fiat currencies, is thought to be centuries old – dating back to the Babylonian period. Learn about the history of Forex here:https://t.co/ePTJlbUP7c https://t.co/68MY3a84Pw
  • Join @MBForex 's at 8:30 AM ET/12:30 PM GMT for his weekly strategy #webinar Register here: https://t.co/VAnAfZU02T https://t.co/Va0bYcqRF8
  • Heads Up:🇧🇷 BCB Focus Market Readout due at 11:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-07-06
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.40%, while traders in US 500 are at opposite extremes with 70.71%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/M6awG86v5q
  • 🇪🇸 Consumer Confidence (JUN) Actual: 60.7 Previous: 52.9 https://www.dailyfx.com/economic-calendar#2020-07-06
AUD/USD Downside Risks Remain With Dark Cloud Cover On The Daily

AUD/USD Downside Risks Remain With Dark Cloud Cover On The Daily

2014-07-07 11:49:00
David de Ferranti, Currency Analyst
Share:

Talking Points

  • AUD/USD Technical Strategy: Shorts Preferred
  • Dark Cloud Coversignals potential for continued pullback
  • Harami pattern awaiting confirmation on daily chart

The Australian Dollar is in a precarious position with a Dark Cloud Cover pattern on the daily warning of a continued correction for the currency. However, hope remains for the Aussie bulls with a Harami pattern emerging in recent trade. Before suggesting a bounce back to 0.9440 the pattern requires confirmation from a successive up-day.

AUD/USD: Dark Cloud Cover Offers Ominous Warning

AUD/USD Downside Risks Remain With Dark Cloud Cover On The Daily

Daily Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here

Examining the four hour chart a Piercing Line pattern hints at an intraday recovery, which may see sellers emerge at the 0.9385 mark.

AUD/USD: Piercing Line Pattern Suggests Intraday Bounce

AUD/USD Downside Risks Remain With Dark Cloud Cover On The Daily

4 Hour Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here

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

News & Analysis at your fingertips.