AUDUSD

Technical Analysis – AUDUSD’s momentum flimsy; Bollinger band blocks climb

Posted on November 16, 2020 at 2:45 pm GMT

AUDUSD’s recent positive development appears to be struggling around the upper Bollinger band, whilst heavy resistance threatens overhead. That said, the simple moving averages (SMAs) are commanding a strong bullish tone backing further advances in the price. The short-term oscillators are communicating conflicting signals in directional momentum. The MACD is improving above its trigger and zero lines, while the RSI is rising in bullish territory. However, the stochastic oscillator has shifted bearish, promoting a pullback in price. If sentiment picks [..]

Daily Market Comment – Vaccine optimism, upbeat data push stocks to new highs, dollar retreats

Posted on November 16, 2020 at 9:51 am GMT

Week gets off to positive start as vaccine, strong recovery and Biden victory drive optimism Global stocks surge as S&P 500 sets fresh record high, dollar extends slide Pound holds steady as Brexit talks enter critical phase Markets buoyed by vaccine progress and upbeat Asian data Rapid progress in the race for a COVID-19 vaccine more than offset the deepening gloom of the present virus reality as the latest wave shows no sign of waning. Expectations that last week’s breakthrough [..]

Week Ahead – Plenty of data but Covid, Trump and Brexit might steal the spotlight

Posted on November 13, 2020 at 1:40 pm GMT

After the US election and vaccine frenzy, economic data will move to the forefront in the coming week, with inflation and retail sales comprising the bulk of the releases. However, investors might be wrong to assume that the election and virus storms are over as Trump steps up his legal fight to overturn Joe Biden’s projected win and as several states in America head towards new lockdowns. If all that fails to produce enough drama, there is always Brexit waiting [..]

Technical Analysis – AUDUSD hovers above 0.7250; lacks direction in short term

Posted on November 12, 2020 at 8:32 am GMT

AUDUSD seems to be range bound, something also reflected in the flattening out of the slopes of the 20- and 40-day simple moving averages (SMAs), though, the price climbed above 0.7250 in the previous daily sessions. The directionless Ichimoku lines and the steadied cloud further reflect this view. That said, the short-term oscillators, although somewhat stalled, still lean towards a slightly positive picture. The MACD, in the positive region, is holding above its trigger line, while the RSI hovers in bullish territory. [..]

Technical Analysis – AUDUSD maintains bullish bias despite latest pullback

Posted on November 10, 2020 at 4:33 pm GMT

AUDUSD has retreated from the fresh high of 0.7339, which formed within a resistance section of peaks from back in September. The simple moving averages (SMAs) continue to convey improvements in the pair with their recently acquired bullish demeanour. The short-term oscillators are transmitting conflicting signals in directional momentum. The MACD, in the positive zone, is decreasing below its red trigger line, while the RSI’s descent in bullish territory is slowing ahead of the 50 threshold. That said, the stochastic [..]

Daily Market Comment – Stocks resume furious rally as Biden wins

Posted on November 9, 2020 at 12:09 pm GMT

US election ‘aftershocks’ continue – equities roar higher, dollar slips Several theories floated to justify this relentless rally, but question is, can it last? Markets may revert to trading covid news and prospect of fiscal package Crunch time in Brexit talks too, traders seem confident a deal is coming US stocks back near record highs It’s official. Joe Biden was declared the new president-elect of the United States over the weekend, injecting another dose of optimism into global markets even [..]

Technical Analysis – AUDUSD hits familiar bullish spot; trend continuation eyed

Posted on November 5, 2020 at 9:12 am GMT

AUDUSD collected marginal gains on Wednesday and closed just around the 50-day simple moving average ((SMA) despite a volatile session within the 0.7100-0.7000 region. Earlier in the week, the 0.7030 support area managed to halt negative movements for the third time, increasing speculation that the downfall from the 0.7412 peak could be temporary. The recent bullish action could also reflect the end of an a-c corrective pattern and the start of a new bullish wave 1-5 according to the Elliot theory. Still, [..]

Daily Market Comment – Dollar firms, stocks rattled as US election too close to call

Posted on November 4, 2020 at 9:14 am GMT

Anxious wait for election outcome as race much tighter than anticipated Dollar and yen creep higher as election uncertainty mounts Stocks steady until Trump threatens to block mail-in ballot counting Trump closes in on Biden; might be a long wait The race for the White House is proving tighter than many had anticipated and certainly more than what the opinion polls had indicated as incumbent President Trump wins in several battleground states. As of 09:00 GMT, Trump had secured the [..]

Daily Market Comment – Dollar slips, stocks rally as world awaits next US president

Posted on November 3, 2020 at 9:58 am GMT

Few signs of market jitters on Election Day despite uncertainty about outcome Strong manufacturing data help ease virus fears, stocks bounce back Dollar retreats from highs, aussie shrugs off rate cut to turn higher Biden still in the lead, Trump talks legal action Americans go to the polls today to vote for the next president of the United States following a chaotic election campaign amidst a global pandemic. Most final polls ahead of the election put Democratic candidate Joe Biden [..]

RBA policy meeting: Let more stimulus flow – Forex News Preview

Posted on November 2, 2020 at 6:13 pm GMT

The Reserve Bank of Australia (RBA) will decide on policy on Tuesday at 03:30 GMT and markets are almost certain that policymakers will slash interest rates for the third time this year and further widen its quantitative easing program in another attempt to balance the negative effects of the pandemic, which brought the global economy to its knees. With the US election taking centre stage this week and the event fully priced in, the aussie may show a limited reaction, [..]

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