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
Bullish
Oil - US Crude
Bullish
Wall Street
Bullish
Gold
Bullish
GBP/USD
Mixed
USD/JPY
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
More View more
Real Time News
  • Risk appetite has spread heading into Thursday trade with more than just the SPX taking the lede. GameStop ($GME) is back in the top performance depth chart. What does this mean for trends ahead? My analysis: https://www.dailyfx.com/forex/video/daily_news_report/2021/02/25/GameStop-Commands-the-Speculative-Headlines-as-SP-500-and-Yen-Crosses-Rally.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/54seZPSCN0
  • Heads Up:🇯🇵 Coincident Index Final (DEC) due at 05:00 GMT (15min) Expected: 87.8 Previous: 89.0 https://www.dailyfx.com/economic-calendar#2021-02-25
  • Heads Up:🇯🇵 Leading Economic Index Final (DEC) due at 05:00 GMT (15min) Expected: 94.9 Previous: 96.1 https://www.dailyfx.com/economic-calendar#2021-02-25
  • Canadian Dollar Price Forecast: USD/CAD, CAD/JPY, CAD/CHF, EUR/CAD - https://www.dailyfx.com/forex/technical/home/analysis/usd-cad/2021/02/25/Canadian-Dollar-Price-Forecast-USDCAD-CADJPY-CADCHF-EURCAD.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $CAD $USDCAD $CADJPY $CADCHF $EURCAD https://t.co/e8Xc41LGna
  • Time-cycle analysis suggests that the Japanese Yen could slide significantly lower against its major counterparts. Key levels for AUD/JPY, EUR/JPY and GBP/JPY. Get your market update from @DanielGMoss here:https://t.co/WPq4Z9zzEw https://t.co/Lx6enU1uEd
  • #Gold moves back below the 1800 handle as risk-on sentiment moves through APAC equity markets $XAUUSD https://t.co/V5WWJoRRG5
  • Time -cycle analysis suggests that the US Dollar is poised to significantly underperform its major counterparts in the medium to long term. Key levels for AUD/USD, DXY, NZD/USD, and USD/CAD.Get your market update from @DanielGMoss here:https://t.co/GZxr7P1MbO https://t.co/slH6OntXUW
  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Silver: 0.31% Oil - US Crude: 0.23% Gold: -0.46% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/2Yyni2Z58V
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.01% 🇨🇭CHF: -0.01% 🇬🇧GBP: -0.02% 🇯🇵JPY: -0.15% 🇦🇺AUD: -0.16% 🇳🇿NZD: -0.23% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ULEvN369Jh
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 89.26%, while traders in Wall Street are at opposite extremes with 80.14%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/unmD0UB3T4
AUD/USD Cut Through Key Support Negates Bullish Candlestick Pattern

AUD/USD Cut Through Key Support Negates Bullish Candlestick Pattern

David de Ferranti, Currency Analyst

Talking Points

  • AUD/USD Technical Strategy: Shorts Preferred
  • Piercing Line Pattern Fails To Find Confirmation
  • H4 Chart Reveals An Absence Of Reversal Signals

AUD/USD’s crash through the 0.8660 floor has left a Piercing Line pattern lacking confirmation, which may leave the pair exposed to further declines. The next definitive support rests some distance away at the July ’10 low near 0.8320. A close back above the 0.8660 barrier would be required to negate a bearish bias and suggest a base.

AUD/USD: Piercing Line Fails To Find Confirmation

AUD/USD Cut Through Key Support Negates Bullish Candlestick Pattern

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

Some intraday support appears to have been found near 0.8560 as noted by the four hour chart. However, with a lack of definitive reversal signals a corrective bounce is questionable.

AUD/USD: Absence Of Reversal Signals Casts Doubt On A Bounce

AUD/USD Cut Through Key Support Negates Bullish Candlestick Pattern

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