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
Oil - US Crude
Bullish
Wall Street
Mixed
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
Mixed
More View more
Real Time News
  • The #AustralianDollar may continue to outperform its haven-associated counterparts after breaking above key chart resistance. $AUDUSD, $AUDJPY, $AUDCHF levels to watch. $AUD https://www.dailyfx.com/forex/technical/home/analysis/aud-usd/2020/09/21/Australian-Dollar-Time-Cycle-AUDUSD-AUDJPY-AUDCHF-Key-Levels.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr https://t.co/wfa6HxnANh
  • HSBC share price tumbled 3.2% after Chinese media agency Global Times reported that Beijing is considering putting HSBC into its Unreliable Entity List (UEL). Hang Seng Index fell 0.7% in early Asia trading hours. https://t.co/zrUCkWmH1w
  • Join @ZabelinDimitri 's #webinar at 11:30 PM ET/3:30 AM GMT to find out how geopolitical risk will affect the markets in the week ahead. Register here: https://t.co/hsULxMNOtM https://t.co/Dx6UMk2g1c
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Silver: 0.53% Oil - US Crude: 0.35% Gold: 0.17% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/BjCmKqaBM8
  • The two-day closure of the Japanese markets suggests that liquidity in both equity and forex could be thin, rendering #USDJPY and #Nikkei225 futures susceptible to large swings, should there be surprising news. Read more here: https://www.dailyfx.com/forex/market_alert/2020/09/21/Nasdaq-100-to-Test-100-Day-SMA--Hang-Seng-and-ASX-200-May-Open-Flat.html https://t.co/5fTJl1ytSe
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.25% 🇦🇺AUD: 0.24% 🇯🇵JPY: 0.20% 🇪🇺EUR: 0.16% 🇳🇿NZD: 0.14% 🇨🇭CHF: 0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ajs1wgZFD2
  • #Market Snapshot Broad risk-on tilt to kick off a fresh week of trade as the risk-sensitive $AUDUSD jumps back above the 0.73 mark. Haven-linked $USD drifting lower against its major counterparts while $JPY attempts to peg back lost ground. https://t.co/yWVnyRKfbT
  • The US #Dollar may fall if demand for haven-linked assets fall after testimonies from Powell and Mnuchin to the House. Better-than-expected data may compound the Greenback’s selling streak. Get your #currencies update from @ZabelinDimitri here: https://t.co/HRjFvPKlvx https://t.co/n2IMVDqpZn
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.06%, while traders in NZD/USD are at opposite extremes with 71.11%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/eoCmgXp0MN
  • There is a great debate about which type of analysis is better for a trader. Is it better to be a fundamental trader or a technical trader? Find out here:https://t.co/7kPzAoNoLG https://t.co/QVVQkoSwMW
ASX 200 Technical Analysis: Bearish Momentum after ECB and into NFP

ASX 200 Technical Analysis: Bearish Momentum after ECB and into NFP

2015-12-04 02:10:00
Nathalie Huynh,
Share:

Talking Points:

  • ASX200 Strategy: Bearish intraday trade; stops in focus given downward momentum
  • Even risk drove Asian equities down, slim chance for a recovery before weekend
  • Support levels: 23.6% Fibonacci at 5,078.1, 4,979.2, Sept-Nov support at 4,918.4

Aussie equities and bonds started the day at a loss after the European Central Bank’s meeting triggered extreme market volatility overnight. The ASX 200 is trading at 1.75 percent lower, with potential for even lower extensions.

Momentum signals abruptly reversed from an upside bias yesterday to a clear downside bias today due to event risk, despite resilience in the Aussie dollar. The index is on its third day of declines under a firm resistance at 5,305.

Attention is on how low the ASX would fall, especially in anticipation of another major even risk of U.S. Non-farm Payrolls tonight (Sydney). Support levels ahead are 23.6% Fibonacci at 5,078.1, followed by a recent daily low at 4,979.2. The September-November long-term support firmly contains the downside at 4,918.4.

The bulls should stay cautious with their stops in the midst of direction shifts, possibly trailing support levels. There is little chance for the index to pick up before this week ends, hence range traders who look to buy dips may find opportunities throughout the day.

Losing Money Trading Forex? This Might Be Why.

ASX 200 Technical Analysis: Bearish Momentum after ECB and into NFP

--- Written by Nathalie Huynh, Currency Strategist for DailyFX.com

Contact and follow Nathalie on Twitter: @nathuynh

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

DISCLOSURES