Basicaly it's all written on chart, we are few hours shy of an RBA rate decision and statement publication. There are no hints of any action from RBA and the satatement should be dovish as usual with some words about to strong AUD hitting Australian economy hard.
Long story short.. as long as below 0,9372 level then "sell the rallies" is the basic scenario.
Hello Friends,
As you may recall, last analysis demonstrated that we hit TG-1 = 1.01173 dead-on, and there remained the possibility of a TG-Lo = 1.00892, although the question was whether Wave-4 of a large 5-wave pattern had completed and would instead move on to a higher and final impulse Wave-5 at TG-Hi = 1.02346 - All of these targets add been defined by the...
Glenn Stevens of the Reserve Bank of Australia made some comments favoring a weaker Australian dollar that presumably contributed to a decline in AUDUSD. Of course, central banks talking down their own currencies in the wake of the 2008 financial crisis is nothing new. And while it may have created a noticeable short-term effect, I think it will hardly be...
Traders,
Potential reversal has emerged - albeit quite speculative - on the back of an expanding triangle near-completion at Point-5, as well as a prop-pattern potential ("Great White").
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TECH-NOTE: The Case For A Higher Point-5:
1 - Note that such triangles can often post an overlap of Point-5 across its 1-3 line, so further rallying...
Friends,
Last Wednesday, June 04th, i posted two bearish targets for this chart, nmaley:
1 - TG-1 = 1.43744 - 04 JUN 14
and
2 - TG-Lo = 1.40384 - 04 JUN 14.
For a detailed technical commentary of the predictive analysis and forecasting, see the original chart/text here: .
As of today, the outlook remains bearish and the lower target remains intact and in...
Friends,
Last Wednesday, June 04th, I released two bearish targets, namely:
1 - TG-1 = 1.08986 - 04 JUN 14
and
2 - TG-2 = 1.08521.
(Source: )
Both of these bearish targets got hit with great precision as of this hour (see M14 timeframe for a closer look of the price action relative to these two bearish targets here: ).
A third target, standing at the...
Friends,
A very quick note here highlighting both a long-term pattern development found in a wedge, which I have overlaid over the results of my predictive/forecasting model, whose targets are defined as:
1 - TG-1 = 1.43744 - 04 JUN 14
and
2 - TG-Lo = 1.40384 - 04 JUN 14.
With ECB decisions coming up tomorrow (05 JUN 2014), the Forex community may or may...
So, price rallied, tripped the stop loss orders at 0.93157 and retreated. The RBA minutes are a lot more easier to read/understand. While 3/4th's of the minutes is just the usual crap, the last 2 paras was where the Golden egg was.
"Aussie still high by historical standards"
1. Its funny how traders ignore the very obvious. Last year someone from RBA commented...
Pair found bottom after downtrend and sentiment changed to the upside. Now it is flagging/consolidating. Need some catalyst to attract more active buyers and investors. Interest rate decision tomorrow could be one of them.
I will put feeler here with STOP below support zone at $0.92500 and will ADD more through $0.93000 on break up of
"handle". Potential TARGET...
***Why do you need to have an idea on the bigger picture***
I've seen quite some trade ideas between my last Aussie chart and now. Some calling longs, some calling to stay out.. I must admit, at times even I got a bit confused, but this chart has kept me on the right side of the trade. For example, the retracement to 0.93065 was picture perfect. (It was a high of...
Friends,
The Aussie steamrolled over a potential counter-trend idea and marched on to loftier levels, which are now challenging significant technical patterns. In addition to predictive analysis and forecasting data calling for a reversal within the potential reversal zone (PRZ) range defined by technical data alone, a fundamental element is likely to come into...
