AUDUSD recently broke below its ascending channel visible on the 1-hour and 4-hour time frames. Price has dipped to a low of .7635 before showing signs of a pullback. Applying the Fib tool on the swing high and low shows that the 50% retracement level lines up with the broken support.
The EURUSD pair initially fell on Tuesday, but found enough support underneath to bounce a bit and reach towards the 50-day exponential moving average.
China’s foreign exchange regulator has approved a bigger amount of foreign investment in the country’s onshore financial market, official data showed on Monday.
The AUDUSD pair chopped around during the day on Monday, as we continue to see quite a bit of volatility.
The EURUSD pair rallied on Monday, as we continue to see plenty of volatility.
The European Central Bank’s large bond buying programme appears to be finally working its magic. Inflation is on the rise, unemployment is falling and the economic bloc is – believe it or not – growing, all thanks to years of zero interest rates, several versions of bond purchases programme and a resulting weak currency.
No changed in our view, AUDUSD remains in uptrend from 0.7159.
For oil traders, speculators and indeed corporate buyers, the price action on the daily oil chart reflects a confused picture for crude oil, and to mix metaphors for a moment, the waters have been muddied and remain confused and uncertain.
For gold traders and gold investors, the daily chart for the precious metal has delivered some simple and clear examples of the power of volume price analysis, and how it can help us not only identify reversals and turning points, but also help us to stay in a position – which is the hardest part of trading success, bar none.
GBPUSD stays in the upward price channel on 4-hour chart, and remains in uptrend from 1.1986.
