Talking Points: NZDUSD Technical Strategy: Temporary Bullish Elliottwave Count: Wave C is still due We were tracking to see correction complete on or above .7200 area before downtrend. But this might not be a straight line. This can be played with two scenario. Scenario 1: where we might see upside on wave (c) and can be target on area zone of 7060,...
Although we are not keen to open a new trade position yet, we thought it might be useful to provide some analysis for the Aussie, just because we enjoy doing it. So here goes! Current momentum for Aussie is definitely bearish, although recent unemployment data has been much better then expected. However the low commodity prices is putting a cap on the AUD,...
See the related ideas for my analysis of this pair, which demonstrate the power and surgical precision of the Time at Mode methodology I learned from Tim West here. In this juncture, the weekly chart is offering a potential retracement entry, in case we were to see such an event, which would guarantee a 9.54:1 trade op. In case price were to continue straight...
I'm monitoring AUDUSD to enter a long trade today if possible. After today's close, and before the RBA minutes come out, I'll be entering pending orders, and sharing them here. The outlook is bearish for the dollar mostly, and if we have evidence of the Fed delaying hikes until next year (which we did today), I think we can expect a continued rallying in risk on...
The Australian dollar is coming off a sizable gain against the greenback, following an employment jump of 58,600. This pushed the unemployment rate down to 5.9 percent from 6.2 percent in September. Analysts are expecting this to hinder further rate cuts near-term, while economist Stephen Koukoulas believes the Reserve Bank of Australia (RBA) may indeed raise...
My mood is bullish for that Pair. Basically due to fundamentals like cheap oil FX:USOIL , iron ore, coal and metals like copper FX:COPPER . Main consumer worldwide and in this region is China. China's economy is slowing down after years of +7% growth. www.tradingeconomics.com www.tradingeconomics.com One of China's big supplier is Australia....
AUDUSD seems to be reversing the long term downtrend that started in July 2014. There's only one week left in the largest mode's signal, and after exceeding the target, price formed a double bottom, and we observed a very strong rally emerge after its completion. I'll be placing pending long orders here, similarly to NZDUSD, to try and capture the uptrend if it...
It seems like the time is finally right to buy into EURAUD. There's a 4h downtrend signal time expiration after this bar's close, as well as a relevant level of technical confluence: Fibonacci 0.382 retracement of previous impulse Range expansion support Low volume profile support Correlation to gold: Australian dollar will suffer, gold breached the weekly...
This is an update to my previous EURAUD chart, I was waiting for a long entry and it just presented itself to me. We have an hourly impulse forming, looks like a 5 wave advance, which could be the first of a new bullish cycle. The daily chart shows a strong mode has been formed and price is about to move above it, after producing a series of strong moves up...
After seeing The Working Trader's idea I figured I could attemp a pair trade in this pair, to take advantage of the interest rate differential in both EURUSD short and AUDUSD long. The entry will be a market order, but I'd have to see how the markets open tomorrow, I will update the chart by then. For now, keep in mind that for pair trades, I aim to open a big...
Watch this commodity, since it's very influential, showing a high positive correlation with the australian dollar. Right now I have a bullish weekly setup, aiming for the area depicted by the triangle, which happens to match two channels' resistance. Rgmov is advancing with price, and currently showing a 0.382 retracement after the recent bearish swing. Will this...
We have interesting evidence, suggesting AUDUSD might be ready for a reversal from this level. The selloff has been intense, but price only completed a 0.786 retracement of the advance, which matches the daily mode that originated said uptrend. The downtrend generated a 4 bar target that has reached and exceeded the projected level, and is flashing a buy signal...
There's a quarterly time at mode downtrend expiration signaling a long trade is possible, whilst the daily chart shows a falling wedge with an uptrending RgMov, displaying a nice channel. I'd suggest looking for an entry if the last daily high is breached with an up bar. Entry would be a buy stop with a 1 atr stop under the last daily low. Good luck!
I spent a long time analyzing this pair, contrasting views with my colleague Nick Coulby, who specializes in Elliott Wave analysis, and working on my own time at mode analysis of this pair, as well as adding the result of insightful discussions held at Tim West's 'Key Hidden Levels' chatroom, regarding this topping pattern, as well as the patterns in the gold...
I'm watching this pair closely, there's a time at mode downtrend currently active but the target was already reached. We have a lot of interesting news events today for both currencies which makes me think we will have an excellent opportunity on the long side here. I'll update with my suggested entry once I'm convinced enough. Longer term time at mode targets are...
Watching for potential move resumption of the bearish trend. If the target above isn't reached in time, or is reached ahead of time, we can consider taking a short entry under the highest low. Will update with an entry.
Ok, the correction seems complete, as many bright people pointed out. Now I'll try to get an entry short here. My last time at mode downtrend target has been reached ahead of time, which is typical behavior before a correction, so, the plan is to wait for said retracement to trigger a sell, probably by tomorrow morning, during the NY session. Initial target is a...
The levels on chart are very significant, as evidenced by the price action around them, and how the trend signals targets and timing of said trends respects time at mode guidelines. I identified the end of a quarterly downtrend, in time, byJune 30th, which isn't far ahead, and a new quarterly downtrend signal that points to further declines in the long term, with...