Mon, Nov 30, 2020 @ 20:07 GMT
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EURAUD Heads Up But Still Lacks Direction in Short-Term

EURAUD is ticking higher in a horizontal trajectory trapped between the 1.6340 resistance and the 1.6144 support. A paused state of directional momentum is reflected in the Ichimoku lines, while the price rests around the upper surface of the cloud. The mixed signals in the short-term oscillators further support the...

AUD/USD Outlook: Bulls Pressure Key Barriers ahead of RBA Policy Meeting

The Australian dollar is consolidating under three-month high (0.7407), posted after fresh probe through 0.7400 earlier today. Bulls remain well supported by rising positive sentiment on vaccine expectations that continues to deflate US dollar and ahead of Tuesday's RBA policy meeting. The central bank is expected to keep record low interest...

Currency Pair of the Week: GBP/AUD

The main driver of the Pound this week will continue to be Brexit.  Officials are meeting in London to discuss a trade-deal, however as each day passes towards the end of the year, hopes fade more and more that a deal will get done.   The first positive signs in...

AUD/USD Two Scenarios Likely

The Australian Dollar edged higher by 41 points or 0.55% against the US Dollar on Friday. The currency pair was pressured higher by the 50– hour simple moving average during Friday's trading session. Technical indicators demonstrate buying signals on the 4H, daily and weekly time-frame charts. Most likely, bullish traders...

AUDUSD’s Bullish Signals Remain Alive, Despite Ebbing

AUDUSD is struggling to withdraw under the red Tenkan-sen line at 0.7380, after receding ahead of the critical 25-month peak of 0.7413. Positive momentum seems to be taking a hit, as the red Tenkan-sen line is flattening out. However, the upwards dictating demeanours of the simple moving averages (SMAs)...

Is 74 Line Next For The Aussie?

The Australian dollar is calm in Monday trade. Currently, AUD/USD is trading at 0.7386, down 0.02% on the day. Aussie posts excellent November The Australian dollar gained 1.1% last week and has posted an outstanding November, with gains of 4.8%. The US dollar has been in a prolonged slump, and cyclical...

AUD/NZD Bearish Break Offers Wide Open Space To Fib Levels

AUD/NZD has been in range for more than 5 year on the monthly chart. Price is now showing a potential bearish breakout with 100-300 pips space. It remains likely that price action will move lower to test at least the 61.8% Fib at 1.04 if not the 78.6% Fibonacci retracement...

AUD/USD: Supported By A Rising Trend Line

Pivot (invalidation): 0.7375 Our preference Long positions above 0.7375 with targets at 0.7410 & 0.7435 in extension. Alternative scenario Below 0.7375 look for further downside with 0.7350 & 0.7330 as targets. Comment Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Crude Oil Prices Drop Ahead Of The OPEC + Meeting

The Australian dollar declined slightly in early trading even after strong economic data from Australia and China. In Australia, economic numbers showed that company pre-tax profits increased by 25.8% in the third quarter, a significant increase from the previous increase of 6.3%. Housing credit increased by 0.3% while the...

RBA Preview: Cautiously Optimistic over Recovery; QE Expected to Increase Further in 2021

After some big moves in November, we believe the RBA will stay put at this week’s meeting. Given the good news about vaccine and the steady decline in the country’s coronavirus cases and, we do not feel surprise if the members turn more upbeat this month. Economic data released since...

Gold Selloff Resumes, Markets Shrug Solid Data from Japan, China and New Zealand

Asian markets are generally mixed despite some solid data from Japan, China and New Zealand. Yen is lifted mildly by the relatively optimistic economic outlook. Sterling is also slightly firmer after UK Foreign Minister Dominic Raab indicated Brexit negotiations are "down to really two basic issues" only. Dollar, Canadian...

RBA Meeting: A More Optimistic Take

The Reserve Bank of Australia will hold its final meeting for the year at 03:30 GMT Tuesday. Having cut rates last month, no action is expected this time, so the market reaction will depend on the language of the accompanying statement. Economic data have improved lately and vaccines have...

Week Ahead – Data Overload May Spoil Vaccine Euphoria; NFP to Lead the Pack

It’s NFP week and as investors battle the vaccine optimism against the short-term gloom, the latest jobs report from the United States may determine which way sentiment sways next. Canada will also publish jobs numbers along with its Q3 GDP print. The Reserve Bank of Australia, meanwhile, will kick...

AUD/USD Analysis: Bounces Off Support

The Australian Dollar traded sideways against the US Dollar on Thursday. The AUD/USD currency pair consolidated below the 0.7383 level during Thursday's trading session. The exchange rate bounced off from a support line formed by the 50– hour simple moving average at 0.7358 on Friday morning. Most likely, the currency exchange...

Bitcoin Hits Record High

With US markets closed for Thanksgiving, financial markets were quiet. One “financial market,” if you can call it that, that did see some emotional volatility overnight, was bitcoin. Having touched a new high of USD9,490.00 on Tuesday, the overnight session saw the digital currencies fortunes rapidly reverse. Bitcoin fell...

AUD/USD: Rebound

Pivot (invalidation): 0.7350 Our preference Long positions above 0.7350 with targets at 0.7390 & 0.7410 in extension. Alternative scenario Below 0.7350 look for further downside with 0.7335 & 0.7320 as targets. Comment The RSI calls for a rebound.

Euro Wavers As ECB Consider More Stimulus

The euro was little changed in overnight trading after the ECB published the minutes of its previous meeting. The minutes showed that the bank was considering more stimulus to support the economy. The potential stimulus would include allocating more funds to the quantitative easing program. However, some members of...

Market Morning Briefing: EURJPY Looks Bearish Towards 123

STOCKS Equities manage to stay afloat for now. With limited upside left on major indices and strong resistances ahead, we continue to remain cautious to see a sharp corrective fall in the coming weeks. We will not be surprised to see the major indices beginning the expected correction from here...

AUD/USD Analysis: Bulls Could Prevail

The Australian Dollar edged higher by 45 basis points or 0.61% against the US Dollar on Wednesday. The currency pair bounced off a support level formed by the 50– hour simple moving average at 0.7328 during Wednesday's trading session. Most likely, the exchange rate could continue to trend in an...

AUD/JPY 4H Chart: Bulls Likely To Prevail

The Australian Dollar has surged by 155 pips or 2.06% against the Japanese Yen since last week's trading sessions. The currency pair bounced off from a support level at 75.50 on November 19. All things being equal, the AUD/JPY exchange rate could continue to surge in an ascending channel pattern...

AUDUSD Tries To Test 2-Year High, Remains In Trading Range

AUDUSD is surpassing the 0.7340 barrier in the consolidation area of 0.7000-0.7413. The upside tendency this month started after the bounce off the 0.7000 psychological mark and more increases could come if there is a break of the upper bound of the channel. The momentum indicators seem to in a...

AUD/USD: Target 0.7400

Pivot (invalidation): 0.7350 Our preference Long positions above 0.7350 with targets at 0.7385 & 0.7400 in extension. Alternative scenario Below 0.7350 look for further downside with 0.7335 & 0.7320 as targets. Comment The RSI advocates for further upside.

Elliott Wave View: AUD/JPY Looking For Bullish Breakout

Short Term Elliott Wave view in AUDJPY suggests the pullback to 75.3 ended wave 2. Internal subdivision of wave 2 unfolded as a double three Elliott Wave structure. Down from November 11 peak (77.09), wave ((w)) ended at 75.74, wave ((x)) ended at 76.77, and wave ((y)) ended at...

Market Morning Briefing: Pound Has Risen To Test Immediate Resistance Near 1.34

STOCKS The price action in equities indicates that the time for a corrective fall that we have been cautioning for some time is coming closer. Dow has come-off failing to sustain above 30000 and the upside will be limited to 30800-31000 even if it bounces back from here. We are...

Aussie Dips on Soft Construction Data

The Australian dollar has dipped lower in the Wednesday session. Currently, AUD/USD is trading at 0.7359, down 0.15% on the day. Aussie rally fizzles as construction work declines The Australian dollar has taken a pause on Wednesday, after a huge gain of 1.0% a day earlier. The culprit was a soft...

AUD/USD Analysis: Bounces Off Support

Australia's Dollar surged by 43 points or 0.59% against the US Dollar on Tuesday. The 50– hour simple moving average provided support for the currency pair during yesterday's trading session. The exchange rate bounced off the support line formed by the 50– hour SMA during the morning hours on Wednesday....

Australian Q3 Capex Eyed Ahead Of GDP Data As Aussie Flies On Vaccine News

The Australian dollar is moving slightly higher against the US dollar over the last month as investors are waiting for the capital expenditure data for the third quarter on Thursday at 00:30 GMT ahead of the GDP figure on December 2. In the meantime, the aussie is forming a...

AUD/USD: The Bias Remains Bullish

Pivot (invalidation): 0.7340 Our preference Long positions above 0.7340 with targets at 0.7370 & 0.7385 in extension. Alternative scenario Below 0.7340 look for further downside with 0.7325 & 0.7310 as targets. Comment Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Full Risk-On Market With Upside Breakout in DOW and Oil

Markets are in full risk-on mode for now, with DOW closing above 30k handle for the first time overnight. Asian stocks are also generally higher, with strong rally in Nikkei and HSI. WTI oil prices powered through a key near term resistance level while Gold is set to break...

Market Morning Briefing: Dollar-Yen Trades Stable

STOCKS Positive sentiment on the back of getting a vaccine for Covid-19 and a smooth power transition in the US are keeping the risk appetite in the market high. But we continue to remain cautious on equities as crucial resistances are ahead that can halt the current rally and trigger...