Technician

AUDUSD: Getting ready for a major breakout!

FX:AUDUSD   Australian Dollar/U.S. Dollar
3287 19 116
The AUDUSD             has is closer to a major directional move.

This is the weekly chart, and therefore this is a longer term chart for you to have a secular view of what's going on with the pair.

Bollinger bands has narrowed significantly, as volatility drops. While the price settles at the main long term falling trend line. My strategy for this pair is to wait for a breakout above or below the triangle formation and trade in the direction of the breakout. Minimum targets for the two scenarios are outlined on charts by the horizontal lines.

Best Regards,
Technician
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Abozahra PRO
2 months ago
Thanks for sharing!!
+1 Reply
Technician TOP Abozahra
2 months ago
Thanks mate
Reply
Prome PRO
2 months ago
I completely agree!
+1 Reply
mcpeacocks
2 months ago
thanks for sharing!
Looking at recent candles and 'price action' having mostly pinbars on the topside, I am thinking sellers have the upperhand and the breakdown to the bottom is more likely.... wishfull thinking perhaps as i already have some small shorts open :)
+3 Reply
Technician TOP mcpeacocks
2 months ago
Good luck to you. True, last week pin bar in favor of downside. But the only thing that doesn't make that pin bar a perfect short setup is that it comes in a sideways context.
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kazipintu
2 months ago
Thank you very much sir.
+1 Reply
Technician TOP kazipintu
2 months ago
Welcome :)
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Technician TOP
2 months ago
Guys if you haven't subscribed to my mailing list yet go ahead and do at http://thefxchannel.com
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raoadnan84 Technician
2 months ago
Done
Reply
raoadnan84 raoadnan84
2 months ago
loading or keep rotating ,seems not working
Reply
Technician TOP raoadnan84
2 months ago
Thank you for the feedback, will look into it.
Reply
waiyuen
2 months ago
Awesome, thanks for sharing.
Reply
Technician TOP waiyuen
a month ago
welcome
Reply
SaeedRehman
2 months ago
Technician - your charts and analysis have always been clear and the way you explain things is really good. Many Thanks for sharing your time and knowledge
Reply
Technician TOP SaeedRehman
a month ago
Thank you for your feedback. Appreciate it.
Reply
mcpeacocks
21 days ago
nice move now - classic fake out to the top last week and now down-down-down baby :)
Reply
ubersorg
19 days ago


It broke the btm line, does that means it is expected to go all the way btm? :)
Any sort of links are highly appreciated!!
Reply
Technician TOP ubersorg
19 days ago
@ubersorg, i expect 0.8150 for now.
Reply
Technician TOP Technician
19 days ago
@Technician, excuse me 0.7150
Reply
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