From the technical view:
1. From the Monthly perspective, the price created an impulse to the upside without any proper retracement, now we can expect a deeper retracement to at least 38.2 FIB Retracement taken on the monthly impulse. In that point, 38.2 can be our swing target as label on the chart.
2. From the Weekly perspective, the price just created an impulse to the downside followed by a correction and now we can see that the new impulse to the downside is already started. Therefore, further downside is expected.
3. From the Daily perspective, the price created an impulse to the downside followed by a correction; and this correction is exactly rejected the strong supply level and the Golden Ration 0.618, in that point, we can expect new impulse to the downside when the market open.
From the fundamental view:
1. Big players bullish bias on AUD in the long term view but bearish on AUD in the short term view
2. In the new report, net position is decreased from 11k to 6k, and the long was closed around 2.7k and short closed 5.6k. Even they are not shorting the AUD yet, but we still can expect some weakness arise on the AUDUSD, since they keep closing the long positions and adding short for few weeks
How to approach AUDUSD?
1. Switch to the lower timeframe now and looking for the short opportunity if your rules of the strategy are fulfilled.
2. Just short when the market open is not a good idea, because price the lower timeframes are indicate bullish scenario, higher high and higher low was formed, so price may continue push to the upside with this minor bullish trend.
The result might not follow my analysis, this analysis is based on the TA & FA perspectives.
Comment down below let me know your view on AUDUSD or which pairs you would like to me analyze in the future.
Kindly visit my profile and get more free analysis every single day.
1. From the Monthly perspective, the price created an impulse to the upside without any proper retracement, now we can expect a deeper retracement to at least 38.2 FIB Retracement taken on the monthly impulse. In that point, 38.2 can be our swing target as label on the chart.
2. From the Weekly perspective, the price just created an impulse to the downside followed by a correction and now we can see that the new impulse to the downside is already started. Therefore, further downside is expected.
3. From the Daily perspective, the price created an impulse to the downside followed by a correction; and this correction is exactly rejected the strong supply level and the Golden Ration 0.618, in that point, we can expect new impulse to the downside when the market open.
From the fundamental view:
1. Big players bullish bias on AUD in the long term view but bearish on AUD in the short term view
2. In the new report, net position is decreased from 11k to 6k, and the long was closed around 2.7k and short closed 5.6k. Even they are not shorting the AUD yet, but we still can expect some weakness arise on the AUDUSD, since they keep closing the long positions and adding short for few weeks
How to approach AUDUSD?
1. Switch to the lower timeframe now and looking for the short opportunity if your rules of the strategy are fulfilled.
2. Just short when the market open is not a good idea, because price the lower timeframes are indicate bullish scenario, higher high and higher low was formed, so price may continue push to the upside with this minor bullish trend.
The result might not follow my analysis, this analysis is based on the TA & FA perspectives.
Comment down below let me know your view on AUDUSD or which pairs you would like to me analyze in the future.
Kindly visit my profile and get more free analysis every single day.