FX Trading News & Strategies from Australian Stock Report
The bias for the Cable (GBPUSD) is bearish. We note the shorter-term EMAs crossed lower and diverging and the price action below the longer-term EMA filter, which is negative. Whilst we are bearish, we note support at 1.5400 and would only be sellers if this level were to be breached. To facilitate this, traders can [...]
The Aussie dollar extended its recent losses overnight, retreating alongside faltering risk sentiment. The local unit shed 0.7% against the greenback to settle at 1.0007 at the NYC close, and 0.6% against the yen to settle at 78.04. The euro slumped overnight, tumbling to an 11-month low against the greenback on concern European leaders remain [...]
The Aussie dollar firmed overnight, adding 0.7% against the greenback to settle at 1.0281 at this morning’s NY close. The local unit didn’t fare so well against the yen, slipping 0.2% to settle at 79.89. Today the Aussie has slipped lower after the RBA cut interest rates by 25 basis points, to 4.25%. It was [...]
The bias for the EURSGD is bearish. Over the past two weeks the price action has moved steadily lower, from 1.7650 to currently be trading around 1.7250. The shorter-term EMAs are crossed lower and diverging and the price action is below the longer-term EMA filter, which is negative. We’ve drawn in a downtrend resistance line, [...]
The Australian dollar continued its winning ways overnight with traders still willing to take on risk currencies amid an improving outlook in Europe. The Aussie dollar and the Swedish krona were the biggest winners versus the greenback as investors sought higher-yielding assets. The Aussie added 1.3% against the greenback (AUDUSD) to settle at 1.0026 at [...]
Over the last two months a fairly broad, well-defined range has formed on the EURCAD. Support is noted at 1.3760 whilst resistance is seen at 1.4130. Our focus today is on the lower side of this range, at 1.3760. There is no action to take presently but traders can prepare themselves for either a bounce [...]
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 [...]
We switched to a four-hour chart on the GBPUSD to put the recent move lower into better context. It’s been a steady progression south for the pound and that trend looks set to continue. For those who are a little more aggressive, consider setting on stop sell orders at 1.5449. If shorts are considered, stops [...]
Risk related assets were belted overnight with traders around the globe continuing to dump commodity based currencies amid ongoing fears of eurozone contagion. The Aussie and Kiwi dollars extended their recent slide against the greenback overnight, with the Aussie falling to its lowest level in almost seven weeks and the Kiwi slipping to its weakest [...]
Currency Trading Commentary: December 16
Currency markets were fairly subdued overnight, as were equity and commodity markets after the previous session’s massive retreat from risk. The Aussie dollar eked out a modest gain against the greenback, adding 0.1% but remaining below parity, at 0.9913, by this morning’s NY close. The local unit didn’t fare so well against the Japanese yen, [...]