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
Bearish
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
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
Bearish
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • US Indices are heading lower today after misses on key data prints. DOW -1.19% NDX -1.20% SPX -1.19% RUT -1.74% $DOW $QQQ $SPY $IWM
  • Commodities Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Gold: -0.55% Oil - US Crude: -2.14% Silver: -2.46% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/UlhX3chZWU
  • 🇺🇸 Business Inventories MoM (NOV) Actual: 0.5% Expected: 0.5% Previous: 0.8% https://www.dailyfx.com/economic-calendar#2021-01-15
  • $EURUSD briefly fell below 1.2100 for the first time since December 10th. $EUR $USD https://t.co/yVqkPtN0Cc
  • 🇺🇸 Michigan 5 Year Inflation Expectations Prel (JAN) Actual: 2.7% Previous: 2.5% https://www.dailyfx.com/economic-calendar#2021-01-15
  • 🇺🇸 Michigan Inflation Expectations Prel (JAN) Actual: 3% Previous: 2.5% https://www.dailyfx.com/economic-calendar#2021-01-15
  • 🇺🇸 Business Inventories MoM (NOV) Actual: 0.5 Expected: 0.5% Previous: 0.7% https://www.dailyfx.com/economic-calendar#2021-01-15
  • 🇺🇸 Michigan Consumer Sentiment Prel (JAN) Actual: 79.2 Expected: 80 Previous: 80.7 https://www.dailyfx.com/economic-calendar#2021-01-15
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 98.81%, while traders in NZD/USD are at opposite extremes with 64.00%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/0uvGHbLoet
  • Mixed bag in the crypto space...Ether (ETH) outperforming Bitcoin (BTC)...#btc #eth #xrp @DailyFX Prices via @IGcom https://t.co/LpRLnlk1cD
ASX 200 Technical Analysis: Index Falling as Resistance levels hold

ASX 200 Technical Analysis: Index Falling as Resistance levels hold

2016-06-13 08:39:00
Oded Shimoni, Junior Currency Analyst

Talking Points:

- Index broke the 5,300 support level after an apparent failed attempt higher

- The ASX 200 could now possibly eye the 5,200 support

- Price is still contained inside a long term range

The ASX 200 blasted through the 5,300 support level this past Friday, after the index seemed to fail gathering enough positive momentum to move above a long term range top resistance level at 5,380.

The Index has been trading for the past months in a well-defined range between the 5,380 resistance and the 4,750 support, which coincided with the 0.618 Fib level of the long term up trend from 2012.

The ASX failed again to clear the range top and formed a “bearish engulfing” pattern with impressive accuracy on the 5,380 resistance.

The move below 5,300 appears to reject the possibility for a “higher low” at the 5,300 level, which might in turn put the focus now on the 5,200 support zone from which it seems the last leg to the upside was initiated.

A move below 5,200 could potentially put the spotlight on a possible reaction to the 200 day SMA followed by the 5,000 handle.

With that said, if the index manages to move higher and close above 5,300 this may put the focus again on the 5,380 resistance. A clear break above 2016 highs at 5,431, and the 500 day SMA might signal that the bulls have taken control, and that the long term up trend is resuming.

ASX 200 Daily Chart: June 13, 2016

ASX 200 Technical Analysis: Index Falling as Resistance levels hold

--- Written by Oded Shimoni, Junior Currency Analyst for DailyFX.com

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

DISCLOSURES