Hey Traders, in tomorrow's trading session we are monitoring AUDUSD for a selling opportunity around 0.66800 zone, AUDUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.66800 resistance area. I would also keep an eye on RBA rate decision this week, if it's dovish enough that should be a decent...
SLO2 @ 0.7933 ⏳ SLO1 @ 0.7715 ⏳ TP3 @ 0.76 (closing ALL Buy Orders) TP2 @ 0.7185 (shaving 25%) TP1 @ 0.6925 (shaving 25%) BLO1 @ 0.6645 📈 BLO2 @ 0.6550 ⏳ UNDERSTANDING POSITION TRADING A position trade is a trading strategy where a trader holds a position for an extended period, usually months or years. Position traders are typically looking to profit from...
Resistance Range 0.6760 up to 0.6790 TP2 @ 0.6790 TP1 @ 0.6675 BLO1 @ 0.6625 (primary) ⏳ BLO2 @ 0.6580 (secondary) ⏳
AUDUSD - 24h expiry A Doji style candle has been posted from the base. Buying pressure from 0.6667 resulted in prices rejecting the dip. Price action looks to be forming a bottom. Short term bias has turned negative. We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower. We look to Sell at 0.6750 (stop at...
Hey Traders, in today's trading session we are monitoring AUDUSD for a selling opportunity around 0.68200 zone, AUDUSD is trading in a downtrend and currently we are waiting for a correction to see a potential rejection of the trend towards more lows. Trade safe, Joe.
Hey Traders, In the current trading session, our focus is on monitoring AUDUSD for a potential selling opportunity around the 0.68500 zone. AUDUSD is approaching a significant resistance line located within the 0.68500 supply and demand area. Trade safe, Joe.
Price seems to be approaching a major resistance at 0.6811 which has seen multiple reversals in the past. A reversal from here could see prices being pushed down to 0.6730 which is a 23.6% Fiboancci retracement and our first support. What is worth taking note is that NZDUSD is also approaching a major resistance and could see a reversal soon too. Our bearish view...
AUDUSD - 24h expiry Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. We are trading at overbought extremes. This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower. The hourly chart technicals suggests further upside before the downtrend...
Hey Traders, in today's trading session we are monitoring AUDUSD for a selling opportunity around 0.67800 zone, AUDUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the major trend at 0.67800 support and resistance zone. Trade safe, Joe.
2023-2024 Exchange Rate Forecasts From MUFG Growth Concerns hamper Commodity Currencies MUFG notes important uncertainty over the outlook for Reserve Bank of Australia (RBA) policy. On balance it expects that the RBA will not hike rates again. As far as the currency is concerned, it adds; “We continue to see AUD/USD moving higher but assume underperformance...
The RBA surprised markets by hiking rates 25bps, taking interest rates in Australia to 4.1%. This decision saw the AUDUSD rise steadily from the 0.66 price level up toward the 0.67 resistance level. As the price maintains above the bullish ichimoku cloud and the 200MA signals further upside potential, look for the AUDUSD to break above the 0.67 resistance...
Fundamental Backdrop RBA hike rates by 0.25bps today, resulting in strong bullish momentum. RBA hiking rates highlights the stubborn level of inflation that AUD faces. Technical Confluences Near term resistance level at 0.67066 where price can potentially react to. 0.67066 will serve as a point of target. Idea Will wait for retracement before...
See Chart For Currency Performance YTD Gold biggest performer while JPY the weakest.
Hey Traders, in today's trading session we are monitoring AUDUSD for a selling opportunity around 0.66500 zone, AUDUSD was trading in an uptrend and successfully managed to break it out, currently we are waiting for a potential retrace of the trend towards more lows. Trade safe, Joe.
Fundamental Backdrop RBA Gov Lowe mentioned "Very Much in Data-Dependent Mode on Interest Rates", "Monetary Policy in Restrictive Territory" This means that the RBA is closely monitoring economic data and could potentially continue increasing interest rates CPI y/y also increased from 6.3% to 6.8%, this shows inflation is still on a strong rise which can...
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Hey Traders, in today's trading session we are monitoring AUDUSD for a selling opportunity around 0.67000 zone, AUDUSD is trading in a downtrend and currently sees to be in a correction phase in which it is approaching the major trend at 0.67000 support and resistance zone. Trade safe, Joe.
OANDA:AUDUSD Bullish Reversal Start in AUD USD. Bullish Divergence show some good strength is price. Price break previous L.H now move upward to break another Previous H.H