FX_IDC:AUDUSD   AUSTRALIAN DOLLAR / US DOLLAR
18 0 2
2 months ago
Aud is at an interesting point, and is probably best to just stay away from right now.

Big Picture
It has recently made a large impulse down after failing to break out of a weekly downtrend and is now approaching the daily upward TL.

A correction is needed before it can continue further down, to which I am forecasting in the long run.

TECHNICALS

MACD:
1 Hour bullish divergence.

Pattern:
A questionable breakout of the 1 hour downward trend line with a flag forming at questionable trading hours currently 6:21 EST.

The Asian session just opened and there is new at 9:30 Est.

S/R
Currently supported at a strong 4 hour key level (light blue) and underneath 1 Hour resistance.


Bottom Line.

The flag forming now, has probably induced a few traders to assume longs. However with the choppy price action I would like to see the price drop down and retest the low before heading upward. Im keeping my stop and my risk very small. Due to the nature of this beast.


Watch out if you see failure near the blue resistance level. Triple top formation would drag this sucker down.
2 months ago
Trade active: Broke above resistance level. BE and ride to target
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out