A short time ago, the Aussie was at 0.7871, down half a per cent for the session. The chart blow is showing a steady sell-off. The interesting thing is there’s no clear reason for the move, although global markets have moved to a risk-off tone as we await Chinese inflation data soon. The sell-off was already underway when the monthly Westpac Consumer Confidence data came out at 10.30am. That index fell again and is now showing the longest string of weakness since 2008. The Aussie fell slightly again at the time that data was released and continued to drift lower. May be an interesting session ahead on forex markets.
Overall, the bias in prices is: Upwards.
Short term: Prices are moving.
Intermediate term: Prices are trending.
The projected upper bound is: 0.80.
The projected lower bound is: 0.78.
The projected closing price is: 0.79.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 29 white candles and 21 black candles for a net of 8 white candles.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 17.4359. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 12 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 52.63. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 6 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -154.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 13 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 5 period(s) ago.
Rex Takasugi – TD Profile
FOREX AUD= closed down -0.004 at 0.787. Volume was 9% below average (neutral) and Bollinger Bands were 0% narrower than normal.
Open High Low Close Volume
0.791 0.792 0.785 0.787 73,509
Short Term: Oversold
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 0.79 0.77 0.76
Volatility: 5 9 10
Volume: 84,027 81,767 96,135
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
FOREX AUD= is currently 4.1% above its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of AUD= at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on AUD= and have had this outlook for the last 46 periods.