AUD/USD history repeats at sloping channel resistance

FX:AUDUSD   Australian Dollar / U.S. Dollar
170 0 6
AUD/USD history repeats at sloping channel resistance, don’t blow prevailing upswings out-of-proportion – Tunnel spread for profit maximization:

Despite yesterday’s price jump and attempts of upswings during early trade sessions today bears resume near 7DMA pushing southwards. So, we urge not to get overestimated for dramatic spikes.

The failure swings at major resistance 0.7719 have collapsed to the current levels of 0.7556 (Consistently falling below DMAs in the recent past).

On EOD             terms, Stochastic and RSI noise with strong momentum to signal selling pressures as they are converging to the prevailing downswings.

While MACD evidences bearish crossover and 7DMA crosses below 21DMA that is again a signal of downtrend continuation.

On a broader perspective, the failure upswings are seen to break above channel resistance as and when bulls approach this level and same on the downside as well, it takes support at channel support comfortably to bounce back, overall, the major price trend has been sliding in the sloping channel.

As a result, we think since it doesn't manage to break above decisively which would likely create more bearish potential in days to come.

Well, on the speculative basis, one can use tunnel spreads which are the binary version of the debit put spreads with ITM             stikes of 40 pips above and OTM strikes 40-50 pips for targets of 40-50 in between pips with ease. Having these positions one can catch hold rallies for shorting objectives, thereby, speculators can get hold entry points at much higher levels, so that our net returns could be enhanced with leveraging effects.

While on delivery basis, if the pair does not manage to hold onto the current levels, then shorts in near month futures are advisable for targets of 0.7412 in near terms.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out