FX Trading News & Strategies from Australian Stock Report
Despite pulling back from the recent highs around 0.9550, the bias for the USDCHF is bullish. The price action has pulled back to the breakout region, around 0.9230, and held there thus far. If the price action can bounce off this region, we could see a rotation back in the recent high. In order to [...]
Heading into the new trading week the bias remains neutral to bearish for the EUR/USD. A break below 1.3210 would ensure the current bearish momentum is maintained and could open up a pathway into 1.3140 initially, followed by 1.3040. As such, traders can consider on stop sell orders at 1.3190. Whilst the 17-nation currency will [...]
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 [...]
Pressured by a sixth consecutive session of losses for local equities, the Aussie dollar slumped to a three-week low of US$0.9666 on Friday. Traders continued to shy away from risk currencies amid concerns that eurozone leaders are struggling to contain the region’s debt crisis. Despite sharp sell-off against the US dollar last week, the Aussie [...]
Currency markets were fairly subdued on Friday night but remain plagued with risk. The euro continues to be dominated by concerns regarding the region’s debt problems, with headlines regularly causing significant shifts in the market. The yen and Swiss franc remain under clouds of further central bank intervention, whilst risk currencies are being pushed and [...]
Uncertainty in global markets created a bumpy ride for the Australian dollar over the last 24-hours. Early in the European session last night the Aussie dropped to a low of US$1.0275 with traders moving away from risk assets following reports that Italian borrowing costs had surged to a 10-year high. After touching the low however, [...]
The Australian dollar remained under pressure over the last-24 hours, with risk-aversion gripping markets ahead of this evening’s summit of European leaders. The local currency extended declines against its US counterpart (AUDUSD) this morning after weaker-than-expected inflation figures fuelled speculation that the RBA may cut interest rates on 1 November. The New Zealand dollar was [...]
Despite rallying strongly from the early-October lows around 0.7200, more recently the AUDJPY is showing signs of rotating lower. Among the strategies that are taught in our Forex workshops, one is based on the concept of a value zone. This strategy incorporates the 100-, 150- and 200- day EMAs, with these moving averages defining the [...]
Friday night’s rally helped the Aussie dollar lock in a second consecutive weekly advance against the greenback. In fact, increased risk appetites corresponding to reduced eurozone debt fears, saw the local unit record its biggest five-session gain in close to three years. Today the AUDUSD hasn’t done much, holding around the US$1.03 handle. The Kiwi [...]
Currency Trading News: December 22
The Aussie and Kiwi dollars swung between gains and losses overnight amid concerns the ECB’s measures to boost liquidity may not stem the region’s debt crisis. At the NY close the AUD was 0.2% firmer against the greenback, holding above parity at 1.0092. The local unit fared slightly better against the Japanese yen, settling 0.4% [...]