Daily Analysis Forex Mix

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Gold and Silver surged ahead of the Fed funds rate.

Gold prices jumped yesterday from a low of 2376 to a high of 2412, this drew a long-body bullish candlestick with a small shadow at the bottom of the candle. On the other hand, Silver rose from a low of 27,621 to a high of 28,406, drawing a long-body bull candle with a small shadow at the bottom of the candle.

US economic data released yesterday showed CB consumer confidence greater than expected at 100.3 from a forecast of 99.7 with previously revised data of 97.8. Meanwhile, new job openings were 8.18M, greater than the expected 8.02M with revised previous data of 8.23 M. Even though this data supports the strengthening of gold, it seems that the market will see the Fed's potential in the future.

In this week's trading, several high-impact news that are of concern to traders include the Fed funds rate, ADP Non-Farm Employment Change, inflation data, and NFP.

In terms of geopolitical risks, the Israeli government has emphasized that it wants to retaliate against Hezbollah for the rocket attack that killed 12 people at the weekend, but they wants to avoid a regional war in the Middle East. This has eased market concerns.

Today the ADP Non-Farm Employment Change data will be released which is predicted to fall by 147k from the previous data revision of 150k. This data measures changes in the number of people employed in the previous month, excluding agricultural and government industries.

Next, the FED will release monetary policy, which is predicted to keep interest rates unchanged at 5.50%.

The CME Group's Fed Watch tool forecasts a 95% chance that the Fed will hold interest rates on Wednesday and a 100% chance that rate cuts will begin in September.

XAGUSD D1

Silver price draws a long body bullish candlestick with a small shadow at the bottom of the candle. After a long downtrend and break of the lower band line, Silver prices tried to rise again.

Price is still moving between the middle and lower bands but is trying to leave the lower band. Bollinger bands draw a flat channel with slightly widened bands indicating high volatility in the price range of 27-32.

The VB High TDI indicator shows a value of 61 and the VB Low shows a value of 36, the difference of 24 reflects the value of Silver volatility in the daily timeframe.

The Market Base Line shows a value of 48, meaning the bearish weight is slightly greater than the bearish.

The RSI Price Line is pointing at the value 36 trying to leave the oversold zone.

The Trade Signal Line points to a value of 37, drawing a flat channel, indicating price correction after a downtrend.

XAGUSD H4

Silver prices move above the upper band line, and the Bollinger band line appears to be expanding, indicating an increase in volatility.

The VB High TDI indicator shows a value of 51 and the VB Low shows a value of 23, the difference of 28 reflects the value of silver volatility in the H4 timeframe.

The Market Base Line shows a value of 37, meaning the weight of bearish is greater than bullish.

The RSI Price Line shows a value of 55 across MBL and TSL indicating an uptrend, prices are moving away from the oversold zone.

The Trade Signal Line points to the value 45 drawing an upward channel indicating an upward wave amidst a bearish market.

 

[radex78]

Gold soared amid US economic data.

Yesterday gold prices extended their gains amid mixed US economic data. The price of gold rises drawing a body bull's candle with a slight shadow on the top and bottom of the candle. The bullish candlestick formed a low of 2403 and a high of 2450.

Data released yesterday, ADP Non-Farm Employment Change, showed that the actual data was 122k, smaller than the forecast of 147k with the previous revision being 155k. There is a difference between the actual data and the forecast of 25k, and this shows an unfavorable value for the USD. ADP (Automatic Data Processing, Inc.) is economic data that measures the estimated change in the number of workers in the previous month, excluding the agricultural and government industries.

Meanwhile, the Employment Cost Index data shows that the actual data is 0.9% smaller than the expected 1.0% from the previous data revision of 1.2%. This economic data is considered important because It is a leading indicator of consumer inflation - when companies pay more for labor, the higher costs are usually passed on to consumers.

In other economic data, Chicago PMI showed actual data of 45.2, slightly greater than the expected 44.8 with the previous data revision of 47.4.

Pending Home Sales data shows actual data of 4.8% greater than expected 1.4% with previous data revision of -1.9%. This data measures changes in the number of contract homes that will be sold but are still waiting for the transaction to close.

Meanwhile, the Fed still left interest rates unchanged at 5.50%, even though Powell said he would cut interest rates once this year, predicted in September. According to the FedWatch tool from CME, the probability of the Fed cutting interest rates in September rose to 90.5%.

Today investors are still waiting for other inflation data, Unemployment Claims, and Manufacturing PMI.

XAUUSD D1

Gold prices extended their rise this week after gold fell to a low level of 2352 last week. Now gold has reached a high above 2450, almost reaching the upper band line.

Bollinger bands draw a somewhat deflated channel in this timeframe indicating less volatility. There is an indication of an ascending line on the Bollinger band.

The VB High TDI indicator shows a value of 65 and a VB Low value of 43, the difference of 23 reflects the volatility value of gold in the daily timeframe.

The Market Base Line shows a value of 54, meaning the weight of bullish is greater than bearish.

RSI Price Line shows a value of 61 crosses TSL and MBL from the lower side, indicating an uptrend.

The Trade Signal Line is pointing at the value 53 drawing a slight upward channel indicating a possible uptrend.

XAUUSD H4

Gold prices move outside the upper band line, prices breaking the line indicate strong movement. Expanding Bollinger bands reflect high volatility.

The VB High TDI indicator shows a value of 72 and the VB Low shows a value of 27, the difference of 45 reflects the high gold volatility value in the H4 timeframe.

The Market Base Line shows a value of 49, meaning the bearish weight is slightly greater than the bearish.

The RSI Price Line shows a value of 77 indicating that the price has entered the overbought zone.

 

[radex78]

AUDUSD continues to fall amid the Fed's decision to keep interest rates unchanged at 5.50%.

AUDUSD draws a long body bearish candlestick with small shadows on the top and bottom of the candle. Price formed a high of 0.65595 and a low of 0.64883.

Yesterday's US economic data saw the Fed keep interest rates unchanged at 5.50%, although the Fed may cut interest rates at the end of the year.

While unemployment claims increased by 249k from the previous 235k, analysts expected 136k, much less than expected meaning less good for USD.

Manufacturing PMI data was mixed, Final Manufacturing PMI 49.6 was slightly higher than the previous 49.5, still indicating contraction. ISM Manufacturing PMI 46.8 was lower than the previous 48.5, less supportive of USD strengthening>

ISM Manufacturing PMI showed 52.9 slightly higher than the previous 52.1, there was an increase in prices paid on goods and services.

The decline in AUDUSD was also influenced by the PBoC's recent rate cut weakening the Chinese yuan, which harmed the Australian dollar due to Australia's economic relations with China

The RBA is also expected to maintain interest rates at 4.35% at its upcoming meeting as recently published inflation figures in Australia have reduced the likelihood of further tightening.

Today investors will focus on NFP data which is forecast at 176k with previous data revised to 206k. And the Unemoployment rate data is predicted to be 4.1% from the previous revision of 4.1% too.

AUDUSD D1

AUDUSD price is moving near the lower band line trying to extend the decline. The expanding Bollinger band line reflects high volatility. AUSDUSD bearish sentiment has occurred for three weeks with possible support at 0.64121.

The VB High TDI indicator shows a value of 73 and the VB low shows a value of 25. The difference of 48 reflects the volatility value in the daily timeframe.

The Market Base Line shows a value of 49, meaning the weight of bearish is greater than bullish.

The RSI price line is pointing at a value of 23 drawing a descending channel indicating the price is in the oversold zone.

The Trade Signal Line is pointing at the value 26 drawing a descending channel indicating strong bearish momentum.

AUDUSD H4

Price moves near the lower band line trying to cross the line. Bollinger bands draw a slight descending channel with slightly expanding bands indicating a downtrend with somewhat high volatility.

VB High TDI indicator shows level 49 and VB low shows level 26. The difference of 23 reflects the volatility value in the H4 timeframe.

The Market Base Line shows a value of 37 indicating bearish weight is greater than bullish.

The RSI price line points to a value of 37 drawing a descending channel indicating the price is in a downtrend market.

The Trade Signal Line is pointing at the value 41 drawing a descending channel indicating a downtrend.

 

[radex78]

USDCHF extends losses due to increased demand for safe-haven currencies.

Last week, USDCHF drew a long body bearish candlestick indicating a sharp decline extending the previous decline. USDHF has tended to move downwards since May, reflecting increased demand for the Swiss Frank currency, which is one of the safe-haven currencies.

On D1 last week at market close, USDCHF formed a bearish long-body candle reflecting strong bearishness.

USD/CHF continued its losing streak after the release of Swiss Consumer Price Index data on Friday which showed an increase of 1.3% in line with expectations for consistency in July.

CPI data also matched expectations, falling -0.2% from the previous 0.0%.

On the other hand, US economic data which weakened the USD also encouraged strengthening the Franc Swiss. The NFP data was 114k which was much smaller than the expected 176k with the previous revision of 179k. Meanwhile, the Unemployment Rate data was 4.3%, up from the expected 4.1% from the previous revision of 4.1%.

Today the market is focusing on ISM Services PMI data which is expected to rise to 51.4 from the previous revision of 48.8.

USDCHF D1

In this time frame, USDCHF moves outside the lower band line and tries to enter the BB zone again. Expanding Bollinger bands indicate high market volatility.

The VB High TDI indicator points to a value of 58 and the VB Low 28. The difference of 30 reflects the volatility value of USDCHF in this time frame.

The market Base Line pointing to level 43 indicates a bearish weight greater than bullish.

The RSI Price Line shows a value of 21, indicating that the price has moved in the oversold zone.

Trade Signal Line points to the value 32 drawing a descending channel indicating a market downtrend.

USDCHF H4

Bollinger bands show high volatility in this time frame as seen from the expanding BB line. The price is moving near the lower band line trying to consolidate after last week's sharp decline.

The TDI indicator's VB high points to a value of 59 and VB Low points to a value of 12. The difference of 37 reflects the USDCHF volatility value in the H4 timeframe.

The Market Base Line shows a value of 35 indicating a bearish weight greater than bullish.

The RSI price line shows a value of 10 indicating the price is in the oversold zone.

Trade Signal Line pointing value 15 drawing a descending channel indicates bearish sentiment with strong momentum.

 

[radex78]

Profit-taking brought gold down to $2364.

After the previous day, gold drew an indecision candle where the price formed a small body bearish candlestick with long shadows on the top and bottom of the candle. However, yesterday the price of gold fell sharply from a high of $2458 to a low of $2364.

However, this profit-taking action met resistance from buyers so the price drew a long body bearish candlestick and a long shadow at the bottom of the candle.

Yesterday US economic data, ISM Services PMI showed a value of 51.4 somewhat higher than the expected 51.1 with the previous data revision of 48.8. This economic data is one of the drivers for the USD to strengthen.

Gold should take support from widespread geopolitical risks in the Middle East, where attacks on Israel are now besieged on several fronts by Iran, Yemen, and Lebanon. Reportedly, Israel's ally, America, asked Jordan for permission to use its airspace to prevent attacks by Israel's enemies.

However, the gold price phenomenon is quite interesting, because there are other factors that investors consider.

China, which is the largest importer of gold, is also experiencing a vulnerable phase due to poor domestic demand. Caixin Manufacturing PMI surprisingly contracted in July to 49.8.

Meanwhile, slowing US economic growth has also triggered market changes. The July Nonfarm Payrolls (NFP) report showed that labor demand slowed significantly. The Unemployment Rate jumped to 4.3% versus expectations and the previous release of 4.1%.

However, according to the Fedwatch tool, there is a decline in confidence that the Fed will cut interest rates. This tool estimates the Fed rate in bps 475-500 at the level of 73.5% while the estimate of 500-525 is only 26.5%. The Fed will probably cut interest rates in September, which is predicted to be a reduction of 50 bps.

XAUUSD D1

Gold price is now moving near the middle band line which is the mean of the average deviation. Yesterday the price drew a long body bearish candlestick and the long wick at the bottom candle reflected a whipsaw after a sharp decline followed by strong buying pressure.

Bollinger bands are drawing a slight upward channel with the bands somewhat deflated which is an indication of decreasing volatility.

The VB High TDI indicator points to a value of 66 and VB Low points to a value of 44. The difference of 22 reflects the volatility value of gold in the D1 timeframe.

The Market Base Line shows a value of 55 indicating a bullish weight greater than bearish.

RSI Price Line written at level 44 draws a descending channel and crosses MBL and TSL indicating a downtrend.

Trade Signal Line draws a slight upward channel at the value level 56 indicating an uptrend.

XAUUSD H4

Gold prices tried to rise closer to the middle band line after falling outside the lower band line. Bollinger bands draw a flat channel with expanding bands indicating a high volatility market.

Gold prices above the 200 MA indicate an uptrend market. Here there is a long wick in one of the candlesticks indicating there is buyer pressure after the gold price fell below the 200 MA.

The VB High TDI indicator points to a value of 76 and VB Low points to a value of 39. The difference of 37 reflects the volatility value of gold in the H4 timeframe.

The Market Base Line points to a value of 58, indicating the weight of bullishness is greater than bearish.

RSI Price line menggambar saluran kenaikan menunjuk nilai 44 indicates harga dibawah level downtrend namun mencoba naik.

Trade Signal Line menunjuk nilai 45 menggambar saluran datar indicates kemungkinan transisi trend.

 

[radex78]

AUDUSD gets little RBA interest rate support.

Yesterday AUDUSD drew a bullish candlestick with rather long shadows on the top and bottom candle indicating the market is fluctuating. Price formed a high of 0.065412 and a low of 0.64717, open at 0.64955 and close at 0.65191.

Previously, AUDUSD price volatility showed the price falling at the low on August 5 at 0.63485 and drawing a Pin bar pattern indicating that in a bearish market, there was buyer pressure trying to take over the market direction.

At its meeting yesterday, the RBA still maintained interest rates at 4.35% for the seventh time today. The market seems not to respond much to the RBA interest rate as expected. Australia's still high inflation is the reason RBA Governor Bullock maintains high interest rates.

The RBA projections that inflation will not fall within the target range of 1-3% in the second quarter and forecasts an increase to 3.8%. The potentially restrictive RBA may support AUDUSD in the long term compared to the Fed which may cut interest rates at the end of the year and is expected in September.

Furthermore, the RBA Governor saw a decline in shares due to a weak reaction to the US employment report on Friday and fears of a recession in the US. The Australian dollar staggered, falling up to 2.4%, and tried to recover on Tuesday.

Today there is no high-impact news in the economic calendar, but investors may focus on RBA Assistant Governor (Economic) Sarah Hunter to see potential hawkishness or dovishness. New Zealand's high-impact news on employment and unemployment data may have an impact on NZD despite its slight correlation with the Australian dollar.

AUDUSD D1

The price is now moving between the middle and lower band lines. Bollinger bands draw an expanding ribbon channel reflecting high volatility with the 200 MA line above the prices indicating a long-term market downtrend.

The TDI indicator's VB high shows a value of 73 and VB Low shows a value of 21. The difference of 51 reflects the high volatility value of AUDUSD in the D1 timeframe.

Market Base Line draws a descending channel pointing to a value of 47 indicating bearish weight is greater than bullish.

The RSI price line is pointing at a value of 31 trying to cross the TSL from the downside indicating the price is in the oversold zone and trying to rise from this zone.

Trade Signal Line points to the value 27 drawing a flat channel indicating a possible trend transition.

AUDUSD H4

In this time frame, price movements within the Bollinger band squeeze range which draws a slight downward channel with a narrow band distance indicate low market volatility. Prices below the MA 200 indicate a downtrend market.

The VB High TDI indicator points to a value of 54 and VB Low points to a value of 30. A difference of 24 indicates the value of price volatility in the H4 timeframe.

The Market Base Line drawing a slight upward channel pointing to level 42 indicates a bearish weight greater than bullish.

The RSI price line shows a value of 51 back and forth across the TSL indicating the price is moving in a range.

The trade signal line shows a value of 50 indicating the market is in a neutral position.

 

[radex78]

NZDUSD gains amid supportive New Zealand job data economic news.

NZDUSD price extended its increase yesterday drawing a long-body bullish candlestick with a rather long shadow on the top candle. The price reached a new high of 0.60245 on the support of New Zealand jobs data.

Yesterday, the release of Employment Change data showed a value of 0.4%, higher than expected -0.2% with the previous data revision of -0.3%. This change in the number of workers provides an indication of an increase in job creation, which is a leading economic indicator that reflects the majority of the entire economy.

On the other hand, the data released for the Unemployment Rate was 4.6% compared to the expected 4.7% with a revision of the previous data of 4.4%. Even though it is down compared to previous data, it is higher than analyst predictions. The number of unemployed is an important signal of overall economic health that correlates with consumer spending, although it is a lagging economic indicator.

These two economic indicators include high-impact news and yesterday NZDUSD formed a low of 0.50458 and a high of 0.60245 closing at a bullish candle at 0.59923. NZDUSD had fallen on August 5 at a low of 0.58493 but the whipsaw brought the price up to a close by drawing a bearish candlestick with a long wick small body. After that, prices tend to extend their increase.

Today the economic data that investors may pay attention to is Inflation Expectations, the previous data showed 2.33%. The Reserve Bank of New Zealand expects that the inflation target in the future will materialize into real inflation, so this could be related to interest rate policy.

NZDUSD D1

NZDUSD price crossed the middle band line from the downside indicating a trend change may occur with the target upper band line. The current price is slightly above the middle band line which often acts as a mean price for deviations which often consolidate in this zone.

The Bollinger band line which was previously expanding is now starting to flatten, indicating a decrease in volatility.

The VB High TDI indicator shows a value of 59 and VB Low shows a value of 27. The difference of 32 reflects the value of NZDUSD volatility in the daily timeframe.

The Market Base Line shows a value of 41 with a flat line indicating a bearish weight greater than bullish with the possibility of a trend transition.

The RSI price line shows a value of 50 drawing an upward channel indicating the price is moving away from the oversold zone.

Trade Signal Line shows a value of 43 crossing the MBL line indicating an uptrend even though it is below the bearish level.

NZDUSD H4

The price is now moving between the upper band and middle band line. Expanding Bollinger bands indicate increased market volatility.

The TDI indicator's VB high shows a value of 70 and VB low shows a value of 45. The difference of 25 reflects the pair's volatility value in the H4 timeframe.

The market Base Line shows a value of 58 with an upward channel, meaning the weight of bullish is greater than bearish.

RSI price Line shows a value of 57 with a descending channel indicating the price is moving away from the overbought zone.

The Trade Signal Line shows a value of 62 with a flat line indicating there is a possibility of a trend transition even though the price is above the bullish level.

 

[radex78]

Gold surged amid better US jobless claims data.

An interesting event happened with gold yesterday. After gradating since gold's sharp decline on August 5, gold prices are back to soar after successfully crossing $2400.

Gold price drew a long-body bullish candlestick with almost no shadow forming a high of $2427 and a low of $2378.

According to analysts, this precious metal soared because encouraging data from the United States (US) provided relief to financial markets, thereby weighing on demand for the US Dollar.

US jobless claims data showed actual data of 233k from the expected 241k with a revision of previous data of 250k. Decreasing unemployment claims indicates overall economic improvement.

With improving economic conditions enabling the inflation target to be achieved so that the public confidence index rises, the Fed will cut interest rates in September.

Meanwhile, geopolitical risks still support gold as a safe-haven asset.

Next, investors will focus on Fed officials who allow dovish or hawkish statements.

Today there is no important economic schedule related to USD, but there is news that may have a high impact on CAD regarding job data.

XAUUSD D1

Gold price managed to cross the middle band line from the downside. Price draws a long body bullish candlestick with almost no shadow with a longer body than the previous candlestick.

The price is now moving slightly above the middle band line. Bollinger bands draw a flat channel with slightly deflated bands indicating slightly falling volatility.

The 200 MA is far below the price, drawing an upward channel indicating the long-term trend tends to be bullish.

The VB high TDI indicator shows a value of 66 and the VB low shows a value of 44. The difference of 22 reflects the volatility value of gold in the D1 timeframe.

The market Base Line points to a value of 55 with a flat channel, meaning the weight of bullish is greater than bearish.

The RSI price line points to a value of 55 trying to cross the MBL from the lower side, indicating the price is moving away from the oversold zone.

The Trade Signal Line shows a value of 54 with a flat channel indicating a neutral or sideways market.

XAUUSD H4

Prices move near the upper band line, the BB line which expands slightly indicates increased volatility.

The 200 MA draws a flat channel below the price indicating a possible sideways market.

The VB high TDI indicator shows a value of 67 and the VB low shows a value of 33. The difference of 34 reflects the volatility value of gold in the H4 timeframe.

The market Base Line draws a downward channel at 50, meaning a neutral zone.

The RSI price line shows a value of 59 drawing a flat channel indicating the price is in an upward trend far from the oversold zone.

The trade signal line points to the value 52. Trying to cross MBL from the lower side indicates an uptrend market.

 

[radex78]

Gold prices are stable at market opening.

Gold price activity did not experience significant fluctuations on Monday, although it rose slightly, the movement was still within the previous price range of low volatility.

This can be seen on M15 where the flat BB line with narrow band spacing reflects the gold price space within the $2425 floor and $2434 ceiling.

The absence of a gap at market opening may also be due to the absence of a trigger for an increase in gold prices on Saturday and Sunday.

However, expectations of the Fed cutting interest rates may provide positive sentiment for gold. However, it seems that investors are divided in the conclusion that the Fed will reduce interest rates by 50 basis points and some conclude that the reduction will only be 25 basis points.

Data from the FedWatch tool probability interest rates will fall by 25 basis points to 85.1%, interest rates will fall by 50 basis points to 7.6% and interest rates will remain unchanged at 7.3%.

Today there is no high-impact news on the economic calendar schedule, normal price movements are predicted based on technical analysis.

XAUDUSD D1

Gold price moves above the middle band line, still drawing a small candle in the previous range. Bollinger bands draw a flat channel with wide band spacing indicating a sideways market in the price range of $2359-$2471 based on the BB line.

The VB high TDI indicator points to a value of 66 and the VB low points to a value of 44. The difference of 22 reflects the low volatility value of gold at the D1 timeframe.

Market Base Line with a flat channel points to a value of 55, meaning the weight of bullishness is greater than bearish.

The RSI Price Line shows a value of 56 with a flat channel indicating the price is above the uptrend level.

The Trade Signal Line points to a value of 53 with a flat channel indicating a sideways price with a bullish weight greater than bearish.

XAUSD H4

Price is near the upper band line in this timeframe. The BB line expands slightly, indicating that volatility may increase.

The price is well above the 200 MA which is drawing a slight upward channel in this timeframe.

The VB High TDI indicator points to a value of 62 and VB Low points to a value of 34. The difference of 28 reflects the volatility value of gold in this time frame.

The Market Base Line shows a value of 48 with a slight downward channel, meaning the weight of bearish is greater than bullish.

The RSI price line is pointing at a value of 60 with an upward channel indicating an uptrend near the overbought zone.

Trade Signal Line points to the value 58 with an upward channel indicating an uptrend.

 

[radex78]

Ahead of the CPI data, AUDUSD is stable near the 200 MA

AUDUSD drew a bullish candlestick with a small shadow on the top candle yesterday. The price formed a low of 0.65647 and a high of 0.66046 with a close price of 0.65850. The price moved slightly below the 200 MA, drawing a flat channel with a slight upward channel.

Reserve Bank of Australia (RBA) Deputy Governor Andrew Hauser spoke at the Economic Society of Australia Business Lunch event in Brisbane on Monday with several quotes, predicting huge economic uncertainty, inflation remaining high due to weaker supply and a tight labor market, there the risk of unemployment increases more rapidly. Household consumption increases in line with real income.

The market reaction to the quote brought AUDUSD to trade up drawing a bull's candle.

Today investors are waiting for important news that might get a market response. The Australian Wage Price Index is forecast to rise 0.9% from the previous 0.8%. This economic indicator measures changes in the prices companies and governments pay for labor. Actual value greater than the forecast is usually good for a currency.

Next, investors focus on US inflation data, PPI, which is also an important economic indicator used by the Fed to consider changes in interest rates. Core PPI is predicted to fall 0.2% from the previous 0.4%. This data measures changes in prices of finished goods and services sold by producers, excluding food and energy.

AUDUSD D1

The price moves near the 200 MA which draws a flat channel indicating that in the long-term, the price average is moving in a neutral trend. Prices also move near the middle band line which is the mean zone of deviation. The BB lines appear somewhat deflated, indicating reduced volatility.

The VB high TDI indicator shows a value of 72 and the VB low shows a value of 21. The difference of 51 reflects the AUDUSD volatility value in the daily timeframe.

Market Base Line points to a value of 47 drawing a flat channel, meaning the weight of bearish is greater than bullish.

The RSI Price Line shows a value of 48 across TSL and MBL indicating the price is trying to rise away from the oversold zone.

Trade Signal Line points to the value 40 drawing an upward channel indicating a possible downward to upward trend transition.

AUDUSD H4

The price is moving near the middle band line below the 200 MA which is drawing a flat channel. Bollinger bands draw a slight upward channel with a rather narrow band spacing, an indication of a weak upward trend in a low-volatility market.

The TDI indicator's VB high points to a value of 66 and VB low points to a value of 43. The difference of 23 reflects the AUDUSD volatility value in the H4 timeframe.

The Market Base Line points to a value of 54 drawing an upward channel, meaning the weight of bullishness is greater than bearish.

The RSI price line points to a value of 57 TSL cross from the upper side indicating the price is trying to move away from the overbought zone.

The Trade Signal Line points to a value of 59 drawing a flat channel indicating a sideways market with a possible upward trend movement.