justatrader
Short

AUDUSD - A Great RR Trade but with caution

FX:AUDUSD   Australian Dollar/U.S. Dollar
312 3 4
Follow up from previous analysis is here:
AUDUSD - Tricky price action


Price looks to be picking up from where it left off. Testing a S/R level. The outcome of this will also determine if Aussie is turning bullish or not. Notes on chart and I think the context will be more clear after reading the previous analysis.

For more context: This is the DXY/TNX spread chart:
Long Dollar Index. Short 10-Year Notes
(Click on make it mine to see the updated indicators) to see the strength of the Greenback against the 10yr Treasury.

Looking to EURAUD:
EURAUD - Watching for the fundamentals
for reference, the H&S target is yet to be filled. A lot to explain, but if the 3 charts are viewed in relation to one another, the context would be much clear.
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Ozayevable
2 years ago
i like this chart. but im also concerned about how a lot of retailers are focused on shorting 9300 level. oh well...
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Evild0er
2 years ago
Clear, nice use of colours. Charts how it should be, i'll be following this move.
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I think the economic stimulus speculation from China could be a catalyst. Last time this happened it was on Jan 21, aussie gained on the day and then dropped. Would be interesting to see how this plays out. From a technical perspective if the stops are hit and price closes higher aussie could move from some bigger gains. Also keep an eye put on kiwi dollar (although less likely to react). Gbpaud and nzdaud are the ideal pairs to long on aussie weakness
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