In this week's Tradingview analysis, I've examined eight individual currencies and marked off key levels, support/resistance, and trendlines. These charts help me gauge the strengths and weaknesses of different pairs, which I'll be keeping an eye on for the week. However, the fundamental landscape is also worth watching, especially with the upcoming CPI event....
The AUDUSD has broken below the support level of 0.6700 and formed three consecutive daily doji candles. Currently, it is heading towards retesting the previous level we mentioned, which also coincides with a weekly downtrend line, an annual uptrend line, and a 23.60% Fibonacci retracement level. I anticipate the price to bounce off this level and continue its...
Fundamental Backdrop 1. DXY continues to weaken 2. Eyes are on the AUD's Employment Change and Unemployment Rate, which are expected to be better than previous results. 3. This will strengthen the AUD. Technical Confluences 1. Price recently bounced off the near-term support at 0.66400 2. Near-term H1 resistance at 0.66900 Idea Looking for price to continue...
Looking at the H4 chart, we are looking for buy entry at 0.6549 which is an overlap support, take profit will be at 0.6644 and stop loss will be at 0.6487 Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute...
Overnight, the AUDUSD traded down to the 0.6568 support level despite the overall downward move on the DXY. As the price failed to break the support level, a brief move to the upside could be likely. However, if the DXY recovers in strength from the release of positive NFP data, the AUDUSD could continue with the trend and trade significantly lower, down to the...
The AUDUSD pair is vastly oversold on the 1D time frame (RSI = 29.541, MACD = -0.008, ADX = 36.291) as the price hit the S1 Zone going back to November 21st. The 0.618 Fibonacci is at the bottom of this zone and makes the strongest possible Support. As a result we are turning long on this pair, targeting the 1D MA200 (TP1 = 0.67500) and the 1D MA50 (TP2 = 0.68500)...
In this chart ( AUDUSD ), we see a disconnected channel pattern that will probably break upwards. In the lower time frame, we see a flag pattern that has the ability to continue based on the current momentum. Of course, we have to wait until this channel breaks apart and then make a decision. wait my friend...
Fundamental Backdrop 1. Fed Powell mentions that upcoming FOMC meeting stance is up to NFP data release. 2. Market sentiments surrounding the USD has been flipped bullish. 3. Fed Powell mentions that Fed would not hesitate to hike the i/r at a faster pace. Technical Confluences 1. Strong bearish momentum and pressure happening onto AUDUSD. 2. Price has broken...
waiting for opportunity to short this...it might continue correcting more after this consolidation or break down further.. *************************************************************************************** Hello there! If you like my analysis and it helped you ,do give me a thumbs ups on tradingview! 🙏 And if you would like to show further support for me,...
Hello Traders! So, the Australian dollar (AUD) has gone down after the Reserve Bank of Australia (RBA) made a decision about interest rates. However, Antje Praefcke, an FX Analyst at Commerzbank, thinks we should be careful about assuming that this means the end of interest rate hikes in Australia. Basically, the RBA still seems to be planning to raise interest...
The AUDUSD remains "trapped" between the support (0.67) and resistance (0.6780) in the lead up to the Reserve Bank of Australia (RBA) interest rate decision at 11:30am GMT+8 The current expectation is for a 25bps rate hike, to take the interest rates in Australia from 3.35% to 3.60%. Generally, since August 2022, every interest rate hike from the RBA had seen the...
Fundamental Backdrop 1. The Trade Balance dropped from 12.99B to 11.69B, this shows that export demand dropped which creates a greater demand for foreign currency, weakening the AUD. 2. AUD's Cash Rate is going to be released at 11.30am SGT 3. Based on previous data we saw a roughly 30 - 50 pip drop within the day. 4. Expecting the AUD to drop later on towards...
Hey Traders! I believe we can double down on AUDUSD with a different entry, nice little double flat top squeeze into a recent bearish engulfing candlestick closure does look like it's going to re-test the previous bottom level, if broken it should re-test the higher timeframe support, I then expect a bounce and continuation bearish movement for further profits.
The AUDUSD traded with significantly choppy price action toward the end of last week. The price generally fluctuated along the 0.6750 price level before trading slightly higher, toward the resistance level of 0.6780, due to the weakness of the DXY. Although the AUDUSD has been trapped within the price range of 0.67 and 0.6780 in the short term, the current DXY...
Hey Traders, here is my simple Buy setup on AUDUSD. The pair just successfully completed the inverted Head and Shoulder on the Daily TF, and now that signal a bullish run. On 4H the price retested the demand zone second time which could be argue to be a level that buyer might start throwing some buy orders in, but that is not enough. The market just made a...
Hey Traders, as the stock market shows a strong bullish momentum i would like to consider some potential upsides on AUDUSD as a proxy to the positive correlation between the two. Technically we notice a breakout of the downtrend in 2h time frame so i will consider a potential retrace. keep an eye on DXY to confirm the position. for any question don't hesitate on...
We're seeing price approaching a strong overlap resistance at 0.6781 which also lines up with the 38.2% Fibonacci retracement. Price could potentially reverse from here pushing it all the way down to the recent swing low at 0.6698. However, if prices were to break this resistance level, the next big resistance for us to keep an eye on is 0.6810 which is the 50%...
The AUDUSD is currently trading along the 0.6740 price level with no clear directional bias. While the AUDUSD traded lower overnight, the price rebounded from the 0.67 price level and support area. As the price sits between the support and resistance level, and with the RBA interest rate decision due on Tuesday next week, it is likely that the AUDUSD could...