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Another risk-on currency potential chart pattern
AUD_USD: Trade Idea
Since Brexit the AUD/USD has been bearish. The currency pair is currently in a descending triangle pattern with approx 0.73 acting as support. Wait for breakout.
Follow the principles of breakout.
Hello Traders, I am a new this week so I will try my best to post some ideas I can see
This pair is trending down in the daily consolidation so a Buy on the break seems like a good idea. It might be the last fews days to see result
Trade with care.
Thank you for your support.
5 Reasons to go short.
1:) Symmetrical Triangle Breakout
2:) 50% Fib level intersects with 14 day bearish trend-line and 7 day bullish trend-line that was recently broken which could create a triple threat of resistance.
3:) Expected resistance at .7200
4:) Bearish Cloud
5:) Why the hell not.
Entry @ .7195
SL @ .7128
TP @ .7100
Sorry for the ...
This pair has been in consolidation on the daily which is the first sign of a reverse coming.
In addition, the RSI oscillator has actually started to trend lower after just touching upon the oversold level, which could imply some bearish activity ahead for the pair. The Stochastic Oscillator has also reached into reversal territory with some divergence also ...
I think that the USD against the AUD is going to have a mini crash in the next week based on current MFI and MACD
EM FX and commodities currencies are fairing pretty well since the start of the year, but market sentiment may change with the coming of the new quarter (market participants may focus more on the US during the second quarter with perhaps a realization that the first quarter slow down was temporary). On a technical basis, I see reason to be cautious on the AUD/USD ...
In this Wolfe Wave I want to highlight the internal moves between the points.
Points 1-2: You want to look for an abcd pattern in the development of points 1-2. Though it is not always the case this usually helps define whats coming later on.
Points 2-3: Similar to 1-2, 2-3 also forms an abcd pattern. 2-3 is typically the longest wave in ...
Well we must applaud the Aussie for showing some real strength against an overral declining Australian rate of growth, Chinese slowdown + depressed levels of commodities. However I think the spike will soon run out of steam, potential reverse from here to 0.77 and then fall back to minimum of 7.56. Possibly lower.
It would be good to see some confirmation from ...
Price is currently trading below KS and it seems the uptrend has been broken.
Looks like prices want to test lower levels on a short term basis.
Please check the comments on the chart
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