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...
We're looking at GBPAUD on the H4 timeframe today - and we can see that it has already bounced quite nicely off a major overlap support. Now the key thing here is the 23.6% Fibonacci retracement. If price is able to break beyond that level, we could see a further acceleration up towards the 1.8805 level which is the 38% Fibonacci retracement and a bit of an...
Hi again! Cool - it's time to share the second chart I've my eyes on as well for the upcoming 48 hours! It is of course AUD/NZD (again) but this time for a potential short play! Overall, our criteria points are met, and they are rather simple so that is nice. However, we've some additional things that I like! And, that is the fact that this pair is getting...
AUDNZD is on a very aggressive short-term rally following the 1.05600 Low, turning overbought on its 1D technicals (RSI = 73.113, MACD = 0.006, ADX = 40.707). As the price approached R1 (1.108900), it is gradually turning into a sell opportunity, with the Channel Up Top being just over. Consequently, we turn bearish ourselves, targeting the bottom of the Channel...
The AUD/USD is currently experiencing bullish momentum, and we are looking to capitalize on the next upward movement using a trend-following setup. However, in terms of fundamental analysis, the AUD/USD pair is facing difficulties in sustaining its current rally above 0.6680. This rally was initially sparked by the unexpected announcement of an interest rate hike...
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...
Hey Traders, in today's trading session we are monitoring AUDCAD for a selling opportunity around 0.90100 zone, AUDCAD is trading in a downtrend and currently seems to be in a correction phase in which it is approaching the major trend at 0.901000 support and resistance zone. Trade safe, Joe.
The AUDJPY pair has been trading within a Channel Down pattern since the October 21 2022 High. Supported by the 1D MA50 (blue trend-line), it not only entered yesterday the Resistance Zone of December 13, but also reached the top (Lower Highs trend-line) of the Channel Down. This is a Double Sell signal and as long as candles close below it, we will be selling...
The RBA has now ‘surprised’ the market with 2 back-to-back rate hikes, which were both priced at a 30% probability or below. Essentially, the RBA has injected a level of policy uncertainty greater than any other G10 central bank. We also see its hawkish forward guidance maintained with “some further tightening of monetary policy may be required”. So, the...
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...
Hey Traders, in today's trading session we are monitoring AUDNZD for a buying opportunity around 1.08300 zone, AUDNZD is trading in an uptrend and currently seems to break out an important resistance area so in today's session we are watching a potential retrace of the break out towards more highs. Trade safe, Joe.
AUDNZD W Formation has formed over the last month. The price has broken above the Neckline, showing strong upside to come. We have other indicators confirming this. 7>21 - Bullish RSI>50 Target 1.14000 SMC - Sell Side LIquidity Smart Money buys into positions (and sweeps liquidity) from traders who are long (get stopped) and for short traders who enter...
The Australian dollar depreciated past $0.722 on Friday amid a wider risk-off sentiment, while traders braced for a more aggressive tightening by the Federal Reserve. The US central bank is set to meet on Jan. 25-26, and although it is not expected to move rates, an increasing number of Fed officials indicated readiness for a faster path towards policy...
See Chart For Currency Performance YTD Gold biggest performer while JPY the weakest.
Pair Name: AUD/NZD Time Frame: 4hrs Chart Direction: short Comment: 📢 Market Update 📉💰 📊 It appears that we could witness a bearish price movement based on the current technical analysis. The price has successfully filled the existing imbalance and encountered resistance at the prominent level of 1.09000. My target is to exploit the significant downward...
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.
Price moved in a parabolic surge last week and reached at a strong resistance zone. Now we are expecting a pull back and need to retrace little, There is also an bearish divergence in place So trade accordingly.
Hey Traders, in tomorrow's trading session we are monitoring AUDCAD for a buying opportunity around 0.88500 zone, AUDCAD was trading in a downtrend and successfully managed to break it out. Currently AUDCAD is in a correction phase in which it is approaching the retrace area at 0.88500 support and resistance zone. Trade safe, Joe.