nmike

AUDUSD positive divergence (daily)

FX:AUDUSD   Australian Dollar/U.S. Dollar
1123 30 13
The AUDUSD             monthly and weekly trend is still bearish , however there may be a short term long signal setting up in the daily frame. All indicators are showing positive divergence and Trix lines are showing short term upside momentum with Trix 7 about to break mid point. A break above resistance could see AUD reach around .9570 near term. If up trend continues the next target is around 1.009.
For more information and sample charts on this system follow this link :
The FISHER-TRIX- 34ma system
This is one of the best oversold pairs out there. Until there is risk aversion in the equity side of things I dont see this getting the lift. Once risk off happens though watch out on this pair.
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littleriver
3 years ago
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Here is a similar situation in November 2008 with a favorable outcome. Not so common on this time frame with this pair. Do you see it more often on smaller time frames? Thank you.
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nmike MOD littleriver
3 years ago
Hello @littleriver, the set up shaping up on the AUD daily can happen in any time frame,
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StealthTrader
3 years ago
Seems to be setting up for clean trade once over the R.
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nmike MOD StealthTrader
3 years ago
@StealthTrader, most likely will retest support
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nmike MOD
3 years ago
....could not break(R)resistance, if it doesn't hold(S)support next down level is about.8780
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StealthTrader nmike
3 years ago
Great call thanks for the warning earlier today.
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nmike MOD
3 years ago
>>>> divergence still in play, AUD broke above support let's see if this time it can break resistance
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nmike MOD
3 years ago
let's see if we can finally break resistance on original chart
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nmike MOD
3 years ago
.... next upside target
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nmike MOD
3 years ago
.......likely to test and or break .953 near term
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Touch that .931 area and I be a buyer
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QuantitativeExhaustion PRO QuantitativeExhaustion
4 months ago
What went wrong here?
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nmike MOD
3 years ago
...target hit as per last comment, likely next upside target, top of channel
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nmike MOD
3 years ago
>>>>> it took a bit more sideways action for this positive divergence to play out, but finally we have hit the first target, at the moment we have overbought conditions, negative Trix divergence and an overextended Fisher so it's likely that we will have a pullback in the short term
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nmike MOD
3 years ago
>>>> approaching KEY RSI support
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nmike MOD
3 years ago
....RSI currently below key support, expect further downside
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Technician TOP nmike
3 years ago
Nice Series nmike
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nmike MOD Technician
3 years ago
@Technician .......thanks :)
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nmike MOD
3 years ago
......down move update
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nmike MOD
3 years ago
.....next likely downside target around .888
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