CHFJPY is approaching major support at 111.27 (Fibonacci retracement, Fibonacci extension, horizontal swing low support) where a major bounce could occur, pushing price all the way up to major resistance at 112.38 (Fibonacci retracement, Fibonacci extension).
Stochastic (89,5,3) is seeing major support above 3.9% where a corresponding bounce could occur.
Trading ...
AUDUSD bounced off its support at 0.7395 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially rise to its resistance at 0.7436 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) bounced off its support at 4.5% where a corresponding rise could ...
AUDUSD is approaching our first resistance at 0.7493 (horizontal overlap resistance, 100% Fibonacci extension, 50% Fibonacci retracement) where a strong reaction might occur below this level, pushing price down to our major support at 0.7328 (horizontal swing low support, 100% Fibonacci extension, 61.8% Fibonacci retracement).
Stochastic (89,5,3) is also ...
After the AUD/USD pair met and passed the previous target, a larger review of the currency pair was done.
Essentially it was discovered that the currency exchange rate remains in a dominant ascending pattern, which can be best drawn on the daily candle chart. Meanwhile, there is another pattern on the pair.
The still not fully confirmed descending junior pattern ...
Moving out of longer term demand zone. 1HR chart triangle breakout. Possible bearish harmonic pattern indicating a move to 0.7500 even handle area. Fib clusters highlighted in purple.
AUDUSD is approaching our first resistance at 0.7503 (horizontal pullback resistance, 23.6%, 50% Fibonacci retracement, 61.8% Fibonacci extension) where a strong reaction might occur below this level pushing price down to our major support at 0.7328 (horizontal swing low support, 61.8% Fibonacci retracement).
Stochastic (21,5,3) is approaching resistance we might ...
Clear Cypher pattern on Daily tame frame on support zone. Australia GDP YoY is 3.10% versus USA GDP YoY at 2.80%.
Watch also price action of NZD/JPY which has highly positive correlation with AUD/USD and USD/CAD which has highly negative correlation with AUD/USD.
Chart will proceed downtrend it made a new lower low for now and will make to corrective move with a reversal pattern that head and shoulders after that we will wait for next daily support.
Looking for a pullback. I would like to point out that it is possible that AU goes up for one more for a "Z" wave or a leading diagonal. I'm not saying it will, just saying that is a possible pattern, all I know is approaching a major area. refer to my other smaller time frame AU chart I posted.
At the moment, the US dollar continues its rally and strengthens against the basket of major currencies. The dollar index moved away from the weekly low and rushed up.
Despite the increase in oil prices, the Australian dollar is losing ground against the reserve currency.
At the moment we expect that the pair will be directed down and overcome the 0.7360 mark by ...
The AUD/USD has been one of the worst performers since the ECB and FOMC of last week. Broad-based selling has seen the Aussie fall all the way to 0.7350.
Now Westpac - a major Australian Bank - has come out with their predictions for the Aussie.
They are suggesting the sell-off has been a little overdone and the outlook isn’t as bad as many have first ...
The AUD/USD has bounced off 0.7350. I think the buyers are around for the time being and I will be looking for a short-term rebound. The downward channel has been paying out well so far.
Longer-term I think price can see 0.7500 again, but that will certainly be the roof in price for 2018.
The AUD/USD has been holding the downward channel. We've already tested 0.7400 and I suspect we can push as far as 0.7350. I think the buyers are about to step up here in the short-term.
The AUD/USD has been holding the downward channel. Given the USD strength, I'm looking for a break below 0.7400 in the coming week. Before a possible retrace.
Buy above 0.7560.
Stop loss 0.7513.
Take profit at 0.7659.
Reason for the trading strategy (technically):
AUDUSD is approaching its support at 0.7560 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) where we expect to see a bounce, causing price to rise to its resistance at 0.7659 (61.8% & 50% Fibonacci retracement, ...
