From the technical view:
1. From the Monthly perspective, price already sitting inside the major resistance, we may see a short term downside movement of AUDUSD from this level.
2. From the Weekly perspective, price created a HNS pattern and the situation is correlated well with Monthly view, more confirmation for the downside movement.
3. From the Daily perspective, the price created a M pattern; we may see a huge downside moment after the price tested the neckline of the M pattern.
From the fundamental view:
1. Big players switch their bullish bias to the bearish bias on the AUD.
2. In the new report, the long position of AUD was increased 1,192 and short position of AUD was increased 2,870; bringing the net position to 5,942 from 8,075, meaning that they are not interested to buying AUD, and start to shorting AUD.
3. In addition, by referring to the new report, during the AUDUSD move to the downside, long and the short adding at the same time, meaning that the price will move the upside first (to retest the neckline of the M) then it will start moving to the downside (They want to sell at the high).
3. Combine with TA and FA, move to the downside of the AUDUSD is expected.
How to approach AUDUSD?
1. Monitoring the daily timeframe and wait the neckline retested, after that monitoring the lower timeframe to find the short opportunity, if your rules of the strategies are fulfilled.
2. Just short when the market open is not a good idea, because you will miss your area of value.
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, price already sitting inside the major resistance, we may see a short term downside movement of AUDUSD from this level.
2. From the Weekly perspective, price created a HNS pattern and the situation is correlated well with Monthly view, more confirmation for the downside movement.
3. From the Daily perspective, the price created a M pattern; we may see a huge downside moment after the price tested the neckline of the M pattern.
From the fundamental view:
1. Big players switch their bullish bias to the bearish bias on the AUD.
2. In the new report, the long position of AUD was increased 1,192 and short position of AUD was increased 2,870; bringing the net position to 5,942 from 8,075, meaning that they are not interested to buying AUD, and start to shorting AUD.
3. In addition, by referring to the new report, during the AUDUSD move to the downside, long and the short adding at the same time, meaning that the price will move the upside first (to retest the neckline of the M) then it will start moving to the downside (They want to sell at the high).
3. Combine with TA and FA, move to the downside of the AUDUSD is expected.
How to approach AUDUSD?
1. Monitoring the daily timeframe and wait the neckline retested, after that monitoring the lower timeframe to find the short opportunity, if your rules of the strategies are fulfilled.
2. Just short when the market open is not a good idea, because you will miss your area of value.
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.