FX Trading News & Strategies from Australian Stock Report
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 [...]
Since we last covered the USDJPY, the pair has continued to respect the downtrend we drew 10 days ago. The bias is now firmly bearish for the pair, with the shorter-term EMAs crossed lower and the price action below the longer-term EMA, which has turned negative. Traders can look to be sellers on a further [...]
The bias for the GBPCHF is bullish. The shorter-term EMAs are crossed higher and the price action is above the longer-term EMA filter, which is positive. We note that the price action recently broke out above a previous swing high created in January this year and has since been back to retest and confirm this [...]
The longer-term trend for the EURNZD is bearish but in the near-term the picture is quite bullish. The shorter-term EMAs are crossed higher and the price action is above the longer-term EMA filter, which has recently turned bullish. Given that we’re only looking to take out a tiny move in the context of [...]
The bias for the USDCHF is bullish. We’ve switched to a four-hour chart today to better highlight the recent bull move. The shorter-term EMAs are crossed higher and the price action is above the longer-term EMA filter, which is positive. Whilst we are bullish, we would only be buyers on stop above [...]
As equity markets steadied overnight, so too did risk currencies and the euro. The Aussie dollar posted gains, with the AUDUSD adding 0.3% to settle at 1.0090 at this morning’s NY close, whilst the AUDJPY added 0.7% to settle at 80.67. The Canadian loonie traded at almost parity with its US counterpart before a government [...]
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 [...]
Since topping out at 84.00 in mid-March, the USDJPY has rolled over, presently trading towards 80.00. The shorter-term EMAs have crossed lower and the price action is on the verge of slipping below the longer-term EMA filter. The last completed daily candle is a bearish pin bar, which is often a precursor for lower prices [...]
The bias for the CHFJPY is becoming increasingly bearish. After topping out around 92.50 in March, the pair has rolled over and is currently trading around 88.50. The shorter-term EMA have crossed lower and the price action is on the verge of slipping below the longer-term EMA filter. Whilst we are becoming [...]
Amid stronger equity markets the Aussie dollar put in a mixed performance overnight, with the AUDUSD putting on 0.4% to settle at 1.0392 at this morning’s NY close, whilst the AUDJPY shed 0.1% to settle at 84.13. The euro fell, extending a monthly loss against the US dollar and Japanese yen, after S&P cut Spain’s [...]