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.

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
Wall Street
Bearish
Gold
Mixed
GBP/USD
Bearish
USD/JPY
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
More View more
Real Time News
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.41% France 40: 0.31% Germany 30: 0.24% US 500: 0.11% Wall Street: 0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/qQEVLh2QC7
  • These prices from @CoinMarketCap - some are wrong, I hope...@DailyFXTeam https://t.co/Tt004WqBl3
  • Fed Officials Could Pencil In Earlier Rate Increase at Meeting - WSJ
  • EUR/USD IG Client Sentiment: Our data shows traders are now net-long EUR/USD for the first time since Apr 06, 2021 when EUR/USD traded near 1.19. A contrarian view of crowd sentiment points to EUR/USD weakness. https://www.dailyfx.com/sentiment https://t.co/UzcoNl7En4
  • Italy's market watchdog urges regulation for crypto assets
  • 💶 Industrial Production YoY (APR) Actual: 39.3% Expected: 37.4% Previous: 11.5% https://www.dailyfx.com/economic-calendar#2021-06-14
  • Heads Up:💶 Industrial Production YoY (APR) due at 09:00 GMT (15min) Expected: 37.4% Previous: 10.9% https://www.dailyfx.com/economic-calendar#2021-06-14
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here: https://t.co/yOEvLjKnct https://t.co/PHW0HYIT19
  • IG Client Sentiment Update: Our data shows the vast majority of traders in USD/CHF are long at 76.65%, while traders in France 40 are at opposite extremes with 82.93%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/wKiQPgendC
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.52% Silver: -0.66% Gold: -1.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/XGsafITVgw
Key ASX Prop Survives Test, May Yield If Bears Force Another

Key ASX Prop Survives Test, May Yield If Bears Force Another

David Cottle, Analyst

ASX 200 Technical Analysis Talking Points:

  • Global risk appetite continues to drive the index fundamentally
  • Technically retracement support has held once more
  • However it may not survive another test

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

ASX investors have again been shown the value of Fibonacci retracement as a key level from that series has been revealed as important support yet again.

The Australian stock benchmark has of course been buffeted as have all global assets by the vicissitudes of trade headlines flying between Washington and Beijing. As Tuesday’s trade gets going, hostility seems to have been replaced with a more hopeful backdrop but the situation is obviously fluid which means risk appetite must be too.

The ASX 200’s slide was arrested on the daily chart by 6379. That support is the second, 38.2% Fibonacci retracement of the rise up to July’s record high form the 2019 low of January 6. The level continues to be important having held the bears in check in early August and again towards mid-month.

ASX 200, Daily Chart

Still, the Sydney stock benchmark remains well below the long-dominant uptrend which was finally and conclusively shattered by the sharp slide of August 5. More seriously the bulls probably don’t have long to force a new ‘higher high’ above August 22’s intraday peak of 6561 which now stands out as near-term resistance to beat.

They probably need to get this done by week’s end at the latest if the month of August isn’t to start on a sour note. If they can’t then that Fibonacci support level will come into sharp focus once again and, framed by a succession of lower highs it’s unlikely to survive another test.

A break would bring support from mid-May to early June into play. That comes in between 6303 and 6196.

The bulls don’t have long to nail down that higher high above last week’s top if they’re to avoid this scenario.

ASX 200 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.

DISCLOSURES