We see how the price is now "moving" between the resistance level and the support line. However, I expect the final arrival to the resistance level and then a good drop down. The target is the support level 0.702.
Traders, if you liked this idea or have your opinion on it, write in the comments. I will be glad👩💻
Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
Downwards channel formation. Watch Australia unemployment fundamentals shortly here. Expectation AUD weakness.
I am only in sells in AUDUSD. If it retraces up I will sell at 0.7230 (resistance)
Entry: Sell stop 10 pips below channel
TP @ 0.7090 area (bottom of channel)
Good luck trading! Please help like my free analysis ideas so it can benefit more people....
Now on the 4H timeframe, we can see this ccy pair is in an upward channel and just hit the support.
I will be using the fib retracement on the 1H timeframe to determine when to enter the market and as for now, will probably wait if candlestick closes above or below support of 0.71607 to decide if should go long or short.
All in all, I am expecting this ccy pair...
Overall, AUD/USD is trending upwards. Recently, AUD/USD bounced off the support zone of 0.71000.
The Australian employment data released earlier today indicated that lesser jobs were added in July and that unemployment rate rose slightly.
Employment Change (Actual: 114.7K, Forecast: 30.0K, Previous: 228.4K revised from 210.8K)
Unemployment Rate (Actual: 7.5%,...
AUD - BULLISH
1️⃣ Fulltime Employment in Australia rose more than expected in July.
2️⃣ Greenback remained under pressure amid a lack of progress in US relief package negotiations.
USD - BEARISH
1️⃣ Lack of progress in negotiations on a new coronavirus relief package worried investors.
2️⃣ President Donald Trump accused congressional Democrats of not wanting...
So fellas, AUDUSD has lost a level on the daily, right now its bouncing back up to its levels that it lost previously. What we have targeted as our entry, is the first level that AUDUSD lost after its swing high.
AUD - BEARISH
1️⃣ Westpac's August consumer sentiment showing a downturn in morale and Q2 wages sub-consensus for the weakest y/y rate of growth in 27 years.
2️⃣ Victoria added 410 fresh cases and a further 21 deaths on Wednesday, while neighboring New Zealand was plunged back into lockdown as four people from a household in Auckland, the country’s largest city,...
The AUD (Australian Dollar) was Bullish the last couple of days as the GOLD was higher too, and we all know about it that AUD & GOLD is related to each other if you are going to short AUDUSD you always have to keep an eye this two. As we see starting this week, GOLD is losing its bullish momentum, and these terms, we also see AUD is losing its Bullish run as well....