USDX
106.631

0.19%

XAUUSD
1825.79

0.26%

WTI
83.569

0.16%

EURUSD
1.05210

0.17%

GBPUSD
1.21537

0.16%

USDJPY
148.449

0.43%

USNDAQ100
14787.22

0.16%

Global Markets

News
New AI Signals
Analysis

From Institutions From Analysts

Latest Views

Latest Views

Columns

Topics Columnists

Trending Topics

Daily News

To quickly learn market dynamics and follow market focuses in 15 min.

Central Bank

Inflation, exchange rates, and the economy shape the policy decisions of central banks; the attitudes and words of central bank officials also influence the actions of market traders.

Traders' Opinions

View trading ideas and learn trading strategies.

Forex

Money makes the world go round and currency is a permanent commodity. The forex market is full of surprises and expectations.

Top Columnists

FastBull Featured

The latest breaking news and the global financial events.

Devin

I have 5 years of experience in financial analysis, especially in aspects of macro developments and medium and long-term trend judgment. My focus is maily on the developments of the Middle East, emerging markets, coal, wheat and other agricultural products.

Mohammad Omar

BeingTrader chief Trading Coach & Speaker, 8+ years of experience in the forex market trading mainly XAUUSD, EUR/USD, GBP/USD, USD/JPY, and Crude Oil. A confident trader and analyst who aims to explore various opportunities and guide investors in the market. As an analyst I am looking to enhance the trader’s experience by supporting them with sufficient data and signals.

Jan Aldrin Laruscain

Jan Aldrin Laruscain is a market analyst of Forexway and enthusiast in trading currencies and indices. With his degree and passion for Finance, he have devised a specific way of trading which breaks down the market through orderflow analysis with deep consideration for fundamentals. He also write and create commentaries on the latest trends about all things finance!

7x24
Economic Calendar
Quotes

Data

Data Warehouse Market Trend Institutional Data Policy Rates Macro

Market Trend

Speculative Sentiment Orders and Positions Correlation

Popular Indicators

Pro

Business

White Label

Data API

Web Plug-ins

Recent Searches
    Trending Searches
      News
      Analysis
      7x24
      Quotes
      Economic Calendar
      Data
      • Names
      • Latest
      • Prev.

      View All

      No data

      Sign in

      Sign up

      Upgrade to Pro Freely

      --

      • My Favorites
      • Following
      • My Subscription
      • Profile
      • FastBull Pro
      • Account Settings
      • Sign Out

      Scan to download

      Faster Financial News and Market Quotes

      Download App
      Reminder Settings
      • Economic Calendar
      • Quotes/Market Quotes

      Reminders Temporarily Unavailable

      I have a redeem code

      Rules for using redeem codes:

      1. The activated redeem code cannot be used again

      2. Your redeem code becomes invalid if it has expired

      Redeem

      FastBull Membership Privileges

      Quick access to 7x24

      Quick access to more editor-selected real-time news

      Follow more assets

      You can add more assets to your watchlist to follow more real-time quotes.

      More comprehensive macro data and economic indicators

      More comprehensive historical data on indicators to help analyze macro markets

      Share to get free Pro
      Upgrade to FastBull Pro
      Back to member privileges
      Share to get free Pro Upgrade to FastBull Pro

      Share to get 1-year PRO for free

      Invite new users to Click on your sharing link. After they complete registration and login, you can get one-year membership.
      Share the link to get membership
      Copy

      FaceBook

      Twitter

      Linkedin

      Line

      Email

      Whatsapp

      Telegram

      Scan QR code with mobile phone

      Upgrade to FastBull Pro

      I have read and agreed to the
      Pro Policy
      Feedback
      0 /250
      0/4
      Contact Information
      Submit

      Daily Chart Shows a Harami Structure, Recommend to Go Long at Lows

      Summary:

      The positive risk tone has weakened the USD as a safe haven and benefited the risk-sensitive AUD. As inflation heats up in Australia, expectations for a 75 basis point rate hike by the RBA could rise. This week, the FOMC meeting remains in focus, and the AUD remains under pressure from the 21 and 50-day moving averages (MAs).

      BUY AUDUSD
      Close Time
      CLOSED

      0.69300

      Opening Price

      0.70500

      TP

      0.68500

      SL

      0.63593 +0.00360 +0.56%

      55

      Point

      Profit

      0.68500

      SL

      0.69355

      Closing Price

      0.69300

      Opening Price

      0.70500

      TP

      Fundamentals

      During the Asian and European sessions on Monday, despite pressure amidst widespread risk aversion, the AUDUSD was still consolidating its rally from around the 0.6880 range. Besides, it gained further momentum in the European morning session, pushing spot prices up again to the 0.6950 level, a high touched last Friday. With major central banks committing to control inflation by raising interest rates more sharply, investors are worried about a possible global recession.
      Concerns about the growing economic slowdown are offsetting expectations of a 75 basis point rate hike by the RBA, which could increase further if Australian inflation data exceeds expectations this week. It is expected that the RBA will raise rates to 2.85% by the end of the year. Without a slight limit, this would be around the neutral level, after which there would be a pause. A 50 basis point hike is expected at each of the next two meetings, followed by a moderating rate hike to 25 basis points in October and November.
      The current high inflation could lead to a significant rise in inflation expectations. Given the highly tight labor market, this could drive the salary negotiation process. If this eventually happens, it will force the RBA to raise interest rates further. Meanwhile, traders are also anticipating the long-awaited Federal Reserve (Fed) rate hike decision for a new USD valuation.
      In addition, a surge in confirmed COVID-19 cases in Australia increases upward pressure on the AUD.
      According to the Australian Government Department of Health, about 5,450 people were hospitalized with COVID-19 on the 25th, the highest number since the outbreak began in this Oceanian country. This is linked to the rapid spread of two sub-strains of the variant of the novel coronavirus, Omicron. The highly infectious and immune evading Omicron subvariants BA.4 and BA.5 have now become the dominant strains in Australia, exerting pressure on the healthcare system.
      Since the end of June, the Omicron BA.4 and BA.5 sub-strains have become the main strains prevalent in Australia, and the number of people hospitalized with infections has risen. The current figure had already surpassed the peak of 5,390 in January this year when the first wave of the Omicron strain was prevalent in Australia. The number of deaths in a single day has also increased, exceeding 100 for the first time on the 23rd.
      AUDUSD: Daily Chart Shows a Harami Structure, Recommend to Go Long at Lows_1

      Technical Analysis

      AUDUSD has recorded a bull candle or Harami structure for successive trading sessions after hitting a two-year low at the 0.6681 level on July 14. Based on the sharp rally obtained after the pullback in price in the morning session today, the Harami structure formed on the daily chart is reasonable. This means that the possibility of recording a bull candle today increases significantly.
      In the short term, although the pair is still under pressure from the 50-day MA, it is pulling back from its monthly highs. The 14-day Relative Strength Index (RSI) has turned downwards, justifying a new downward move. If the intraday low at 0.6879 is broken, the 0.6845 level of the 21-day MA will be the first support level. However, based on the Harami structure formed by the daily chart, we prefer the pair to rise further after an adjustment. It is recommended to go long at lows.

      Trading Recommendations

      Trading direction: Long
      Entry price: 0.6930
      Target price: 0.7050
      Stop loss: 0.6850
      Valid until: 2022-08-08 20:00:00
      Support: 0.6920/0.6888/0.6858
      Resistance: 0.6977/0.6993/0.7027
      Risk Warnings and Investment Disclaimers
      You understand and acknowledge that there is a high degree of risk involved in trading with strategies. Following any strategies or investment methodologies is the potential for loss. The content on the site is being provided by our contributors and analysts for information purposes only. You alone are solely responsible for determining whether any trading assets, or securities, or strategy, or any other product is suitable for you based on your investment objectives and financial situation.

      Quick access to 7x24

      Quick access to more editor-selected real-time news

      Exclusive video for free

      FastBull project team is dedicated to create exclusive videos

      Follow more assets

      You can add more assets to your watchlist to follow more real-time quotes.

      More comprehensive macro data and economic indicators

      More comprehensive historical data on indicators to help analyze macro markets

      Member-only Database

      Comprehensive forex, commodity, and equity market data

      Eva Chen

      Analyst

      Master of Economics, 8 years in the financial industry, CFA holder, joined HSBC (Hong Kong) Bank in 2013 after graduating from the University of California, USA in the Investment Research and Markets Department. With years of financial market experience and trading experience, having provided excellent investment advice to many brokerages, entity derivatives importers and clients in Greater China.

      Ranking

      3

      Articles

      754

      Win Rate

      69.33%

      P/L Ratio

      0.51

      Focus on

      WTI, XAUUSD, USDCAD

      Related Analysis

      "Downward Impulse Waves" Structure Is About to Come to an End and Reverse?

      PENDING

      "Head and Shoulders Bottom" Pattern Appears to be Taking Shape, but the Adjustment Period is Slightly Insufficient

      PENDING

      Upward Trend Is Still Intact Even After a Strong Sell-off

      TRADING

      Buy Low and Sell High with Bearish Outlook Unchanged

      PENDING

      Will the "Downward Impulse Waves" Structure Usher in the Last Decline?

      TRADING
      FastBull
      English
      English
      العربية
      繁體中文
      简体中文
      Bahasa Melayu
      Bahasa Indonesia
      ภาษาไทย
      Tiếng Việt
      Telegram Instagram Twitter facebook linkedin App StoreGoogle Play
      Copyright © 2023 FastBull Ltd
      Home News AI Signals Analysis Columns 7x24 Economic Calendar QuotesData WarehousePro User Agreement Privacy Policy About Us

      Risk Disclosure

      The risk of loss in trading financial assets such as stocks, FX, commodities, futures, bonds, ETFs or crypto can be substantial. You may sustain a total loss of the funds that you deposit with your broker. Therefore, you should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources.

      No consideration to invest should be made without thoroughly conduct your own due diligence, or consult with your financial advisors. Our web content might not suit you, since we have not known your financial condition and investment needs. It is possible that our financial information might have latency or contains inaccuracy, so you should be fully responsible for any of your transactions and investment decisions. The company will not be responsible for your capital lost.

      Without getting the permission from the website, you are not allow to copy the website graphics, texts, or trade marks. Intellectual property rights in the content or data incorporated into this website belongs to its providers and exchange merchants.