The Australian Dollar Is Falling In Asian Trade

The Australian Dollar Is Falling In Asian Trade

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.

Technical Analysis

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.

Candlesticks

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 Indicators

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.

Stochastic Oscillator

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.

MACD

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

Technical Outlook
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.

Summary

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.

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Ivy Heffernan

From Modeling To Economics; My name is Ivy Heffernan, and I am interested in a wide range of professions. Economics and politics at the age of 16 is easy when your father has a Ph.D in economics, i have been taught to put together technical analyst and stay up to date with the changing markets as well as what is happening in the political world. Modeling: Since a young age i have been fond of modeling, losing over 40.. kgs to achieve my goal at becoming a super model. I have found it to be a more beneficial experience than just looking pretty. It has opened up many doors to my future and has made me quite outgoing, bringing me to my next topic Journalism: I love Traveling and meeting new people, of course my mind always gets wrapped around business, so i decided to turn it into one. I go to events, restaurants, model parties, clubs ect.. to interview people on their businesses and then write an article all about it and the experience. Summary: I think being a well rounded individual on all topics is the most important thing to everyone, with the changing economies it's good to know that no matter what life throws at you, and no matter what job you are given, you'll always be capable.

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