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
Mixed
GBP/USD
Bullish
USD/JPY
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
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
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • What are some risk trading management techniques? Find out: https://t.co/RShdlDz9RA #tradingstyle https://t.co/M3ASPIHAep
  • #Dow Jones stages impressive recovery on a firm NFP report. #FTSE 100 eyes UK general election. Get your equities technical analysis from @JMcQueenFX here: https://t.co/o28UcG6N3l https://t.co/SwGAaFCFND
  • Why do you require consistency in trading and why does it matter? Find out: https://t.co/f4y1FOOZnM #tradingstyle https://t.co/x5HgYopWc5
  • The USD may rise if the FOMC re-affirms its data-dependent approach and cools 2020 rate cut bets. US retail sales and CPI data may also give the Fed impetus to hold rates. Get your $USD market update from @ZabelinDimitri here: https://t.co/XnDITaDOox https://t.co/A480uVMqF2
  • What tools does the ECB have left to stimulate the Eurozone? Where is the #Euro heading? Find out from Chief Eurozone Economist at Pantheon Macroeconomics Claus Vistesen only on Trading Global Markets Decoded #podcast hosted by @MartinSEssex here:https://t.co/Twr44cZ1GB https://t.co/DXlDH5Cp9e
  • The price of oil extends the advance from the October low as #OPEC and its allies pledge to take additional steps to balance the energy market. Get your crude #oil market update from @DavidJSong here: https://t.co/llGq8yPFH4 #OOTT https://t.co/1OCVOIrK98
  • Gold closed lower after paring early-week gains post-NFP on Friday. But will price finally break support? These are levels that matter on the XAU/USD weekly chart. Get your gold technical analysis from @MBForex here: https://t.co/ovGheRg4MQ https://t.co/ZEQSYktj0w
  • What is your #tradingstyle? Take the quiz and let us know: https://t.co/LPBOcS0Vtd https://t.co/l6FvtcADEH
  • Asia’s vast and growing importance to the world economy is not yet matched by the presence of a currency trading center to rival the established order. Get your update on market drivers in Asia from @DavidCottleFX here: https://t.co/E2hqoRdO7q https://t.co/dnrAMFK4U2
  • Geopolitical developments send #oil prices soaring or falling. Get your market update from @MartinSEssex here:https://t.co/XVXLyG8vjq #OOTT https://t.co/RMk5Eb5fLU
ASX 200 Upswing May Precede Bearish Momentum from Chinese GDP

ASX 200 Upswing May Precede Bearish Momentum from Chinese GDP

2018-10-18 02:00:00
Megha Torpunuri,
Share:

Talking Points - ASX 200, Risk Trends, 3Q Chinese GDP

  • ASX 200 gains likely to reverse amidst broader downward trend
  • Prices are currently testing February-March 2015 resistance levels
  • Risk trends and China GDP in focus for next steps

Find out what the #1 mistake that traders make is and how you can fix it!

The ASX 200 may soon resume downside momentum, possibly reversing recent gains on developments in the financials and materials sector. Recently, the index succumbed to market-wide risk aversion and extended a decline which started at the end of August, causing it to tumble from an 11-year high of 6373.5 and shed nearly 600 points. The dip was preceded by an Evening Star bearish reversal pattern and confirmed prior negative RSI divergence. The break in trend line support has brought the equity index to levels last seen in April 2018, erasing a six-month rally.

ASX 200 prices are currently eyeing near-term resistance, testing a range last seen from February to March 2015 in the 5920-6050 area. A break through these levels confirmed on a daily closing basis could provide the foundation for a bullish set-up, although the absence of clear-cut bullish reversal signals, such as Engulfing or Morning Star patterns, calls for caution. Furthermore, the Australian stock benchmark’s fall has dipped below the 10-day weighted moving average, suggesting further bearish pressure.

ASX 200 Chart (Daily)

ASX 200 Upswing May Precede Bearish Momentum from Chinese GDP

Find out what retail traders’ buy and sell decisions say about the coming price trend!

Currently, an actionable ASX 200 trade set up seems to be lacking. Due to the possibility of further bullish cues given the stock benchmark’s slight rally, entering a short trade is unattractive. Looking ahead, traders should closely eye risk trends, as well as Chinese economic data. Declines from European and American equities may echo into Asia Pacific stock benchmarks, as global risk appetite unravels. In addition, slowing Chinese economic growth could point to a bearish reversal for the ASX 200.

ASX 200 Trading Resources

--- Written by Megha Torpunuri, DailyFX Research Team

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

DISCLOSURES

News & Analysis at your fingertips.