Australian Dollar: USD/AUD (AUD=X) expected to trade sideways
There is not much to add to yesterday’s update. As indicated, despite the relatively strong bounce last Friday, AUD does not appear to be ready to extend its advance in a significant manner. In other words, we expect AUD to trade sideways for now, likely within a 0.7250/0.7420 range.
Overall, the bias in prices is: Downwards.
By the way, prices are vulnerable to a correction towards 0.75.
The projected upper bound is: 0.75.
The projected lower bound is: 0.72.
The projected closing price is: 0.73.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 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 71.6628. This is not an overbought or oversold reading. The last signal was a sell 3 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 48.96. 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 buy 79 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 54. This is not a topping or bottoming area. The last signal was a buy 7 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 buy 5 period(s) ago.
Rex Takasugi – TD Profile
FOREX AUD= closed down -0.001 at 0.734. Volume was 7% above average (neutral) and Bollinger Bands were 1% narrower than normal.
Open High Low Close Volume___
0.735 0.736 0.732 0.734 109,744
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 0.73 0.74 0.76
Volatility: 12 11 10
Volume: 108,790 104,002 96,118
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 3.8% below its 200-period moving average and is in an downward 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 bearish on AUD= and have had this outlook for the last 11 periods.
Latest posts by HEFFX Australia (see all)
- Shanghai: SSE Composite Index (.SSEC) index is above its 50-day moving average and above its 200-day moving average - March 20, 2019
- Japanese Yen: USD/JPY (JPY=X) Still Eyes 112 Resistance - March 20, 2019
- Hong Kong: HANG SENG INDEX (.HSI) stocks were hit by a new wave of uncertainty on the U.S.-China trade front following a series of conflicting reports - March 20, 2019