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.

Free Trading Guides
EUR/USD
Bullish
GBP/USD
Mixed
USD/JPY
Mixed
Gold
Bullish
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • Forex Update: As of 11:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.19% 🇳🇿NZD: 0.14% 🇦🇺AUD: 0.05% 🇨🇭CHF: -0.08% 🇬🇧GBP: -0.13% 🇯🇵JPY: -0.45% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/g3eknBXi3e
  • Indices Update: As of 11:00, these are your best and worst performers based on the London trading schedule: France 40: 0.73% Germany 30: 0.64% Wall Street: 0.22% US 500: 0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/WPF9syYyye
  • Euro vs USD Price Forecast: EUR/USD Eyes New Lows – Will the Selloff End? More details in the link below: https://www.dailyfx.com/forex/technical/home/analysis/eur-usd/2020/02/19/Euro-vs-USD-Price-Forecast-EURUSD-Eyes-New-Lows--Will-the-Selloff-End-MK.html?CHID=9&QPID=917714 https://t.co/I7sA9XdsDH
  • LIVE NOW! Currency Strategist @PaulRobinsonFX discusses important technical developments relevant to short to intermediate-term commodity and equity index traders here - https://www.dailyfx.com/webinars/816147795?CHID=9&QPID=917720&utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • The inside bar pattern occurs regularly within the financial markets. Incorporating the inside bar strategy within a trading system can enhance a trader’s market analysis technique. Find out how you can use it from @WVenketas here: https://t.co/E3EWOYTYNw https://t.co/WACWeXmcG0
  • Tesla (TSLA) up 7.5% pre-US open... #tsla #newparadigm @DailyFX Prices via @IGcom https://t.co/BIOVucv7nO
  • LIVE IN 30 MIN: Currency Strategist @PaulRobinsonFX discusses important technical developments relevant to short to intermediate-term commodity and equity index traders here - https://www.dailyfx.com/webinars/816147795?CHID=9&QPID=917720&utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • EUR/USD Technical Analysis: Euro May Bounce From 3-Year Low - https://www.dailyfx.com/forex/technical/home/analysis/eur-usd/2020/02/19/EURUSD-Technical-Analysis-Euro-May-Bounce-From-3-Year-Low.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #EURUSD #technicalanalysis https://t.co/ck23dW36Mp
  • 🇬🇧 GBP CPIH (YoY) (JAN), Actual: 1.8% Expected: 1.7% Previous: 1.4% https://www.dailyfx.com/economic-calendar#2020-02-19
  • UK inflation - CPI jumps to 1.8% (6-month high) in January vs 1.3% in December. #gbp #sterling #trading ONS Report -> https://t.co/jqnbVTArGs
ASX 200 Is Heading Up to A 3-Month High

ASX 200 Is Heading Up to A 3-Month High

2016-04-15 08:51:00
Nathalie Huynh,
Share:

Talking Points:

  • Strategy: Prepare for a test of the resistance level
  • Strong upward momentum indicates upside development ahead
  • Support levels are at 5074, then 4918.4

The ASX 200 is heading up to a 3-month high of 5227 which previously capped the mid-March rally. Strong upward momentum signals point to further upside development, although it is unclear whether the index could break through resistance. An immediate support level comes in at 5074, followed by a firm support level at 4918.4.

Investors who look to trade the range may find opportunities as the ASX approaches resistance level, or even reverses down after failures to break. Those who are waiting to trade an uptrend may find strong hindrance ahead as the index is getting closer to the upper boundary of a range that has contained price action since August 2015.

Need a hand to start trading: Free Guides

Want to read market’s momentum: Speculative Sentiment Index

Losing Money Trading Forex? This Might Be Why.

ASX 200 Is Heading Up to A 3-Month High

Daily Chart - Created Using FXCM Marketscope

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

To receive Nathalie’s analysis directly via email, please SIGN UP HERE

Contact and follow Nathalie on Twitter: @nathuynh

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

DISCLOSURES

News & Analysis at your fingertips.