On H1 we see that prices are breaking KS. LS crossed its KS as well suggesting bearish continuation. Prices still have next support @ 0.69722 (extension of M15 SSB) and 0.69684 (extension of M15 KS).
Then next supports are seen at 0.69452 and 0.69331 (LS supports).
On the upside we see a strong resistance at 0.70018 (extension of SSB).
AUD/USD more upside in the coming months/weeks ? we have seen many higher lows since October witch is favoring more longs. First upside target is 0.73746 witch is crucial resistance for this pair, if we see a breakout 0.7600 is my next target witch is confluent with FIB.
Just an amateur opinion about a nice pattern which is forming on AUD/USD.
The price came closer to the .886 level from XA leg and if the price will touch this level (0.69924) we'll have a good risk/reward ratio and great opportunity to enter in a long position.
Declining resistance,
Area of supply,
100 day MA
CCI channel
9 straight days of gains in a falling commodity prices environment? the fundamentals just don't support the price right now.
With the employment data out tonight, entering a sell trade with the stop above 0.81 - 0.82, is a good risk/reward opportunity. The fundamental reality is that the US economy is growing leading to higher rates, while the Australian economy is slowing with the RBA trying to lower the exchange rate.
On the technical side we have a MACD crossover and a bounce off...
We have a nice Breakout at Daily Level, pullback with Hammer at Support in H4 + bullish engulfing H1 + doble bottom M15!
Multi-Timeframe confirmation!
Very nice Long opportunity!
After soaring higher this week, an exhausted shooting star was formed on 120 m TF, the rejection was confirmed by the second bar, I prefer to sell short on the selling zone between 0.7800-0.7810, SL immediately above shooting star candle, the first take profit target will be 0.7735, second 0.7675, and the third 0.7610, the Risk to reward ratios: 1:1.625,...
Any way RBA Interest rate hold and jobs data beat the the forecast today, Positive datas are helped for Aussie strength but trader are more bearish on Aussie on long term.
AUD/USD going through complex corrective wave pattern we expect more downside on the aussie on coming weeks.
I am gng to sell the AUSIIE on 0.7740 to 0.7750 level Risk Reward ratios is 1:5
The pair broke above the top trend line of the downward channel and should find buyers around 0.7670/ 0.7700 level. 100MA comes at 0.7730 and should support the pair in near term. Next major target on the upside would be 0.8000 physiological level and 0.8250 high of Jan 2015
On the weekly time frame we have seen a nice pin bar/shooting star form. It has rejected off of the .500 Fib and if you zoom into the daily chart it has rejected from the 200EMA.
From here we may see a small pull back into the pin bar but overall my bias is short on this pair.
Just be aware of the fundamentals this week, we have a few big releases coming out of the US.
The Aussie has broken supports, first support formed by zone between 0.7735-0.7750, and second support formed by channel's bottom at 0.7700. Now we can see a pullback testing these zones how resistence. Also we have the line of MM's 200H doing resistence. Likely the price goes to zone 0.7490-0.7470
So initially I was waiting for a pull back to .78500 for this pair before going short. Price has now broken out of the channel and is heading south. Ideally I would like to see a pull back to .76800 before entering which may take a couple of days if it moves back at all. Price has stalled at the yearly low set on 2nd Feb.
I don't advise blindly entering this...
