Selling by the numbers – AUD/JPY

When two countries are competing for global demand via weakening currencies, who will be the first to blink? The country with the stronger economy…… AUD/JPY this week is a tale of two data sets. In Japan, the jobless rate is lower than expected, inflation is higher (good news when deflation haunts the economy) and industrial […]

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Chart Signals – Thursday, May 29

Asia Pacific indices Australia 200 has rallied up toward the high end of its 5,550 to 5,790 trading channel while its RSI is retesting 50 from below. A breakout by either or preferably both measures would signal the start of a new recovery trend that could retest 6,000. A failure would indicate this as a […]

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USD Strength, – Are You with It?

From Craig Cobb at Trade with Precision: Monday was a public holiday in the UK and USA which saw a pretty quiet start to the trading week but, as soon as the UK opened on Tuesday, the USD has been pushing higher. The dollar has certainly been an explosive mover over the past 12 months […]

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Chart Signals – Weds, May 27

Asia Pacific indices Australia 200 tried to break through the top of a 5,575 to 5,750 zone where it has been base building but has dropped back toward 5,730 after failing to overcome 5,785 Fibonacci resistance. RSI needs to retake 50 to confirm an upturn. Support moves up into the 5,730 to 5,740 area. Japan […]

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Chart Signals – Tuesday, May 26

Asia Pacific indices Australia 200 is base building in the 5,580 to 5,750 range trading around a Fibonacci cluster near 5,655. RSI indicates downward pressure easing and a move back above 50 would signal an upturn. Next potential resistance near 5,790 then 5,900 on a rebound. Japan 225 keeps reaching new highs, currently trading near […]

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Chart Signals – Friday, May 22

Asia Pacific indices Australia 200 has advanced up through the Fibonacci cluster in the 5,655 to 5,670 range and appears to be waiting for RSI to regain 50 for confirmation that an upturn out of a double bottom may be underway. Next resistance near 5,755 with more support near 5,640. Japan 225 remains well supported […]

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AUD/USD Breaking Bad

After a period of strength, AUD/USD may be breaking bad again. RBA Deputy Governor Lowe commented last week that the RBA may still lower rates if it deems fit, and overnight the FOMC moved back the US tightening timetable, but clarified it was looking through the weaker first quarter data. In other words AUD rates […]

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Chart Signals – Thursday, May 21

Asia Pacific indices Australia 200 has successfully retested support near 5,555 and rebounded back up toward 5,630. It still needs to get back through a Fibonacci cluster in the 5,650 to 5,670 area to call off its current downtrend. Japan 225 is breaking out today, clearing 20,225 to trade at its highest level since 2000 […]

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Chart Signals – Monday, May 18

Asia Pacific indices Australia 200 continues to rebound, but this still appears to be an upward correction with the index still under 5,790 Fibonacci resistance and the RSI stuck below 50. Support has moved up toward 5,725  from a Fibonacci cluster near 5,660. Japan 225 continues to climb within a 19,000 to 20,000 trading channel […]

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AUD/NZD – Fundamentals vs Technicals

The RBNZ Governor told Parliament this week that the bank will implement macro prudential tools to cool the Auckland housing market. This is seen by some as a sign that an interest rate cut is coming at its next meeting on June 11. However, the NZD has weakened since the RBNZ signaled a change of […]

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