FX Trading News & Strategies from Australian Stock Report
Friday night’s action saw risk currencies lose ground, as equities and commodities put in a mixed performance. The Aussie dollar slipped lower, with the AUDUSD giving up 0.6% to settle at 1.0031 at this morning’s NY close, and the AUDJPY letting go of 0.6% to settle 80.17. During today’s Asian session the Aussie [...]
The bias for the EURUSD is bearish. The shorter-term EMAs have crossed lower and are diverging, and the price action has extended away from the longer-term EMA filter, which is negative. The price action is also on the verge of breaking down below a key horizontal level which, if breached, could induce further [...]
The bias for the NZDJPY is becoming increasingly bullish. The price action has recently bounced aggressively off 65.50, a support point which has held firm on multiple occasions in recent months. The shorter-term EMAs are turning higher and the price action is approaching a downtrend resistance line which, if breached, will create a buy signal. [...]
The bias for the GBPEUR is bearish. We note a downtrend channel on the chart above which has been funnelling prices lower over the past two months. The price action has recently tested the upper boundary of this channel and has begun to rollover once more. Traders can be sellers on stop at 1.1945, with [...]
The bias for the AUDUSD remains bullish. The rally over the previous few sessions should mean the completion of the recent pullback and support building phase. The pair is now in a position to retest the previous major high from last July, at 1.1080. Below the current market price, support is noted at 1.0790 and [...]
Amid stronger equity markets and mild risk-on sentiment, the Aussie dollar pushed higher overnight. The Aussie reached a one-week high against the greenback ahead of the ECB beginning its longer-term refinancing operation tonight to help shore up the region’s banks. The AUDUSD added 0.2% to settle at 1.0771 at this morning’s NY close, whilst the [...]
This week’s FX Trading lesson focuses on the use of ‘bullish confirming price bars’ to give traders reliable signals to buy into trending FX pairs. While there are a plethora of bullish reversal bars patterns, with various uses and definitions, this article will focus primarily on one of our favourite price bar reversals – the ‘Pinocchio Nose Candle.’ Some [...]
We often get members writing in to ask about indicators, because they promise so much – an insight into future price movements. This week, we thought we’d provide you with an overview of four of the most commonly used technical indicators. Please note that the most used – and many would say the most effective [...]
ALWAYS USE STOPS……ALWAYS!!! Do you want to know why most novice FX traders fail? It’s because they don’t use stops to manage their risk. Now, traders may either simply not know that they exist, or choose not to use them. Either is a recipe for disaster. Other traders try to do the right thing by using stop losses, [...]
Currency Trading Commentary: Breaking Down
The bias for USDCAD is bearish. The shorter-term EMAs are crossed lower and diverging and the price action is below the longer-term EMA filter, which is negative. We note a series of lower peaks, highlighted by the downtrend resistance line we have drawn on the chart. Resistance is now noted at 1.0050 and the price [...]