Australian Dollar: USD/AUD (AUD=X) showing little reaction to the NAB Business Confidence report
The Australian Dollar is trading slightly higher early Tuesday, recovering from earlier weakness. Traders are showing little reaction to the NAB Business Confidence report which came in unchanged from the previous month at 3.
There has also been little reaction to renewed concerns over the Chinese economy and worries about U.S.-China trade relations after the U.S. Justice Department announced charges against the CFO of Chinese communications giant Huawei.
At 0505 GMT, the AUD/USD is trading .7165, up 0.0001 or -0.01%.
The early two-sided trading could also be position squaring ahead of Wednesday’s quarterly Consumer Inflation report which is expected to come in unchanged at 0.4%.
Overall, the bias in prices is: Sideways.
The projected upper bound is: 0.73.
The projected lower bound is: 0.70.
The projected closing price is: 0.71.
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 23 white candles and 26 black candles for a net of 3 black 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 74.7310. This is not an overbought or oversold reading. The last signal was a buy 2 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 50.29. 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 26 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 -37. This is not a topping or bottoming area. The last signal was a buy 2 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 4 period(s) ago.
Rex Takasugi – TD Profile
FOREX AUD= closed down -0.002 at 0.715. Volume was 11% below average (neutral) and Bollinger Bands were 9% narrower than normal.
Open High Low Close Volume___
0.716 0.718 0.714 0.715 101,717
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 0.72 0.72 0.73
Volatility: 10 10 10
Volume: 105,165 111,162 107,906
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 2.0% below 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 12 periods.
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