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
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Mixed
Wall Street
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
Gold
Mixed
GBP/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
USD/JPY
Bullish
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 89.57%, while traders in GBP/JPY are at opposite extremes with 69.65%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/QVIJOsuHtz
  • Heads Up:🇺🇸 Fed Daly Speech due at 17:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-05-11
  • Fed's Brainard: -Enhanced jobless benefits don't appear to be holding back job seeking -Good reason to think higher inflation will be transitory -Would not hesitate to act if inflation flared too much -Household balance sheets look 'extremely healthy,' doesn't see housing bubble
  • USD/CAD appears to be on track to test the September 2017 low (1.2061) after clearing the January 2018 low (1.2247). Get your $USDCAD market update from @DavidJSong here:https://t.co/wIA51KNqNz https://t.co/oREPYOH46E
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Silver: 0.75% Oil - US Crude: 0.06% Gold: -0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/nPjfZ8pcg5
  • Fed's Brainard: - Important to communicate clearly when substantial further progress on goals has been made - Says outlook is bright, expects to continue making progress on Fed goals, but still far from reaching that point - Labor demand and supply recovering at different speeds
  • ECB's Knot: - Banks have withstood covid stress test 'pretty well' - Ground for euro-area recovery is getting firmer - Pent up demand is 'significant' upside risk $EUR $EURUSD $EURGBP
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.31% 🇬🇧GBP: 0.24% 🇯🇵JPY: 0.24% 🇳🇿NZD: 0.07% 🇨🇦CAD: 0.06% 🇨🇭CHF: -0.14% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/rBmlc0ErCB
  • Fed's Brainard: -April jobs data was a reminder that the recovery will be uneven, hard to predict -Strong rebound in hiring still likely -Fed policy driven by economy's actual performance is right strategy -Temporary jump in inflation unlikely to undo longer trends
  • Fed's Brainard: -Inflation tough to predict, may be transitory -Important to stay patiently focused on reaching goals -Data shows price expectations well anchored at 2% -Fed has tools and will react if inflation accelerates too much -Supply/Demand bottlenecks add to uncertainty
AUD/USD Rebounds After Dragonfly Doji Denoted Indecision At 2014 Low

AUD/USD Rebounds After Dragonfly Doji Denoted Indecision At 2014 Low

David de Ferranti, Currency Analyst

Talking Points

  • AUD/USD Technical Strategy: Sidelines Preferred
  • Dragonfly Doji Signaled Hesitation Near 0.8660
  • Climb Over 0.8815 Ceiling To Suggest A Base

AUD/USD has bounced off the 0.8660 barrier after a Dragonfly Doji denoted reluctance from traders to lead the pair lower. However, the candlestick formation is not classed as a key reversal pattern. This casts some doubt over whether sentiment has truly shifted for the pair. A climb over the nearby 0.8815 hurdle would help suggest a base and may open a retest of the 0.8885 ceiling.

AUD/USD: Dragonfly Doji Suggested Indecision Near 2014 Low

AUD/USD Rebounds After Dragonfly Doji Denoted Indecision At 2014 Low

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

The return of the bulls was heralded by a Piercing Line pattern on the four hour chart. The leap over 0.8770 amid an absence of reversal signals may see the Aussie’s gains extend towards the 0.8830 ceiling.

AUD/USD: Piercing Line Pattern Signaled Turning Point

AUD/USD Rebounds After Dragonfly Doji Denoted Indecision At 2014 Low

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