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. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Wall Street
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
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here:
  • (USD Weekly Tech) US Dollar Dominant Uptrend Back In Focus: EUR/USD, USD/JPY, NZD/USD, USD/CHF
  • What is your forex trading style? Take the quiz and find out:
  • Join @IlyaSpivak at 22:00 EST/2:00 GMT for his cross-market weekly outlook webinar. Register here:
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out
  • *Reminder: Weekly Strategy Webinar Monday morning at 8:30am ET - Mid-Week Market Update on Wednesday at 9:30am ET -
  • Are you new to trading? Technical analysis of charts aims to identify patterns and market trends by utilising different forms of technical chart types and other chart functions. Get a refresher on technical analysis or begin building your knowledge here:
  • (AUD Weekly Tech) Australian Dollar May Wilt, Downtrends Resume: AUD/USD, AUD/JPY, AUD/NZD, AUD/CAD
  • Entry orders are a valuable tool in forex trading. Traders can strategize to come up with a great trading plan, but if they can’t execute that plan effectively, all their hard work might as well be thrown out. Learn how to place entry orders here:
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here:
ASX 200 Resilience To Trade War Fears Falters, Key Support Looms

ASX 200 Resilience To Trade War Fears Falters, Key Support Looms

David Cottle, Analyst

ASX 200 Technical Analysis Talking Points:

  • The ASX has retreated quite sharply in the past week
  • Bulls have a line to hold and not much time in which to hold it
  • Falls below the current uptrend may be sharp

Find out what retail foreign exchange traders make of the Australian Dollar’s chances right now at the DailyFX Sentiment Page.

Is the party over at last for the ASX 200?

The Australian stock benchmark defied trade-gloom and diminished global risk appetite quite well up until the end of last week. Rising iron ore prices and a weaker Australian Dollar burnished the appeal of what should probably have been among the hardest hit indexes of all given Australia’s clear links to both China and the US.

Still, despite some fundamental resilience, I suggested last week that the index may well be tiring, and so it seems to have proven since. Admittedly the index remains just within the uptrend channel which has bounded trade since February 4. However, its slide toward the channel base has accelerated sharply since April 22 and a test now seems likely, possibly quite soon.

ASX 200, Daily Chart

Moreover, this base takes the lows of May 14 into account. Indeed, they constitute its only confirmation since the channel began. Its plausible to view those as quite spurious for these purposes and, if we do, then the index is probably already below any uptrend which ignores them.

Even so the bulls may yet have something to play for if they can hold the current line, and it will be instructive to see how much support if any the channel base at 6271 can provide. Bear in mind that the first Fibonacci retracement of the rise as a whole has already given way. It was at 6362.5 and fell on Friday of last week. Focus is now on the second retracement, 38.2%, which comes in within a few points of the channel base at 6268.

Should that to be surrendered on a daily and weekly closing basis then the uptrend overall would be clearly in trouble and immediate focus would then probably fall on a band of support between 6235 (May 15’s low) and 6094 (the low of March 27). In turn trade in this area would bring the psychologically crucial 6000 point perhaps uncomfortably close, and investors should probably be wary in that case of a quick fall below it, possibly followed by further falls.

The bulls are going to have to try to form a base around current levels if they’re going to have another try at recent highs. However, the index is not at this point oversold and the fundamental picture doesn’t make this look very likely.

The index might get some fundamental support from the looser monetary policy overwhelmingly expected from the Reserve Bank of Australia later Tuesday, but against the global backdrop this could be quite fleeting.

Resources for Traders

Whether you’re new to trading or an old hand DailyFX has plenty of resources to help you. There’s our trading sentiment indicator which shows you live how IG clients are positioned right now. We also hold educational and analytical webinars and offer trading guides, with one specifically aimed at those new to foreign exchange markets. There’s also a Bitcoin guide. Be sure to make the most of them all. They were written by our seasoned trading experts and they’re all free.

--- Written by David Cottle, DailyFX Research

Follow David on Twitter@DavidCottleFX or use the Comments section below to get in touch!

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