· Pair’s repeated failure around 0.78 handle followed by a retreat to 0.76 handle has led to a Gravestone Doji formation on the weekly chart. · The monthly RSI and MACD suggest loss of bullish momentum. · The spot thus appears poised for a sell-off to 0.74 handle.
Aussie is having a tough time chewing through the triangle resistance. Despite the sharp rise today, bulls need to observe caution as we had a fake bullish triangle breakout in October. Furthermore, immediate resistance is lined up at 0.7740-0.7760 levels. Hence, only a daily close above 0.7760 would signal continuation the larger uptrend from January lows....
Trend line drawn from September 2001 low and October 2008 low comes around 0.7677. So far this month, the spot clocked a high of 0.7732 and currently trades around 0.7650. Monthly RSI has already breached the falling trendline. So we hope the pair would take out 0.7677 and move towards long-term falling trend line hurdle noted around 0.7950 levels.
AUDUSD is close to possible End-Of-Wave C area and can begin a new trend within next 3 days, triggered with the momentum bullish reversal.
Pair’s rebound from 100-DMA support last week if followed by a failure to cut through/hold above 0.7606 (rising trend line coming from May 30 low and July 27 low + weekly 5-MA + weekly 50-MA of 0.7588) would signal a fresh drop to 0.7349 (weekly 50-MA). Note the multiple weekly candles with long upper shadows. Those add credence to the bearish view mentioned...
Aussie’s sharp retreat from 0.77 handle following multiple candles with larger upper shadows when viewed with an overbought money flow index suggests the bird is in for at least a short-term trend reversal. Also note the failure to hold above 0.7676 (161.8% Fib expansion). Thus, a bearish break below rising trend line looks likely, in which case the pair could...
Aussie weekly chart shows the currency is just short of kissing the long-term falling trend line resistance. Last week’s candle failed to pierce through, however, in the wake of broad based dollar selling and rising gold and oil prices, the currency may take out the trend line resistance and confirm LT trend reversal. Weekly RSI and money flow index also point...
Aussie price is still correcting and may rally to as high as 0.7700 as long as 0.7575 holds. A break below that level suggests that this pair already topped at 0.7650.
AUDUSD Monthly Chart. Definitely this Financial Instrument will be under my eyes in the next days for a good sell opportunity, if it will be possible. Let see. I am a Trader of profiting.me Find me on Facebook. Join to my Closed Facebook Group "Supply and Demand Trading". Girolamo Aloe
Once again, C has completed 1.272 extension and the candle close is not beyond the 1.414 projection. A rebound from 0.7192 (78.6% retracement of XC) could be expected followed by a rise to 0.7234-0.7240 levels.
Plotting wave count on hourly chart indicates 5-wave structure in progress with an extended third wave. Within an extended third wave.. the 5th wave appears to have resumed, which could end up taking the pair to previous day's low of 0.7176 levels. A break below 0.7176 levels would open doors for 0.71 handle. If pair rebounds from 0.7176 levels,...
AUD/USD bottomed out in Jan along with oil and recovered to 0.7835 levels. The sharp rise from January forced investors consider a possibility that a long term bottom may have been in place. However, monthly chart tells us, there is still another leg down pending - Head and Shoulder breakout gave us a downside target of 0.6460, but the pair turned higher...
Swing Wave Approach Developed by author, This approach can be used by professionals and due to it’s simplicity it can be taught in a much shorter period than other Wave analysis offered on the market. The main idea behind it is catching a one swing. And the main use of the current approach is to trade, rather then analysing the long term price movement. The...