"No warning can save people determined to grow suddently rich" - Lord Overstone

  • 1 hour The Calm Before The Storm In Tech Stocks
  • 3 hours Japan Scrambles To Dodge Trump’s Trade War
  • 18 hours Big Banks Double Down On Crypto Ambitions
  • 19 hours Investor Debt Outpaces S&P 500 Growth
  • 20 hours Will Bitcoin Ever Dethrone Gold?
  • 21 hours China's Orwellian Social Media Machine
  • 22 hours What Sparked Russia’s Gold Buying Spree?
  • 1 day The War For "White Petroleum"
  • 1 day Stock Market Bulls Are Running Out Of Steam
  • 1 day Crypto Stocks Poised To Bounce Back
  • 2 days The Five Biggest Bubbles In Stock Market History
  • 2 days Was Finland’s Universal Basic Income Program A Failure?
  • 2 days China Goes Long On Gold
  • 2 days Is It Wise To Trade The Trump Effect?
  • 2 days The Tech That Telecom Giants Fear Most
  • 2 days China’s EV Industry Is Booming
  • 2 days How Will Gold React As North Korean Tensions Cool?
  • 2 days Is This The Biggest Mining Opportunity Of 2018?
  • 3 days China’s $33 Trillion Finance Industry Opens To Foreign Investment
  • 3 days Is Bitcoin Cash Overbought?
The FANG Stock Investors Should Avoid

The FANG Stock Investors Should Avoid

Thanks to a private data…

Financial Sector Reports Record Profits

Financial Sector Reports Record Profits

The financial sector had a…

MIG Bank

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

More Info

Daily Technical Report

AUD/USD: Failed breakout above 200-day average (1.0409)?

AUD/USD bulls seem to have triggered a failed breakout above the 200-day moving average and reinstated the previous daily bearish "evening star" pattern beneath resistance at 1.0387.

Only a sustained upside confirmation above key resistance at 1.0405/11 would suggest an extended recovery into 1.0753 (28th Oct peak).

Our cycle analysis remains bearish and favours downside pressure back into 1.0146 (09th Jan low) and parity, then 0.9862 (15th Dec low).

Keep in mind that such a move would signal a break from the multi-month distribution pattern and the rate’s 3-year uptrend (see bottom-left chart insert).

Elsewhere, the Aussie dollar is weakening sharply against neighbouring New Zealand. The rate’s multi-month trading range is pressuring lower through its 200-day MA which is currently trading at 1.2957. Expect further setbacks over the multi-day horizon into 1.2834 and 1.2319.

The Aussie dollar is holding steady against the Japanese yen, while still maintaining its larger contracting trading range. Watch for key support at 76.98 to unlock further downside into 74.81. Such a scenario would signal further unwinding of global risk appetite.

Daily Technical Report

 

Read the Report

Back to homepage

Leave a comment

Leave a comment