On the Daily timeframe there is still some bullish momentum with the last candle closing engulfed. It looks like price wants to get to the 200 ema on the Daily timeframe.
A few news events this week could cause some volatility: Wednesday AUD unemployment data and Thursday USD Retail Sales.
Uptrend still in tact. I think a break out of the mini range on the Hourly...
AUDUSD – The Weekly following the monthly candle is closing as a doji. Price is moving sides ways. The last 3 weeks have closed as dojis. We still need to keep in mind this pair is bearish. If price breaks the trend line to the upside, we could see possible bullish movement. However, a further rejection to the current can lead price back down to the previous...
Hello to all who watch my charts.
Here I would like to introduce you to an example of Range Trading on the basis of the pair AUDUSD
Please keep in mind when doing a Range Trading that it only works for a short time.
Please check the situation in the future carefully whether the pair stays in the range.
No FX pair or index will normally stay in a constant range...
The 2 blue lines above in the graph are lines of a downward trend that ended in November 2018 and right now we are seeing a downward trend within a downtrend channel.
Entry Price: 0.7070
Take Profit: 0.6850
As long as we are below the Moving average 200 as you can see in the graph above the downward trend will continue, you can also notice that the Ichimoku cloud is changing to a cloud of sell with the red line that rises above the Green Line,The last point is the Stochastic indicator- is approaching to his selling area (between 7-90 this is a sell area...
We can see in the following graph that the audusd is in a distinct downward trend, we see this for several reasons:
1. We are under any serious moving average ( 100, 200)
2. When we have a red cloud is a sign of a downward trend + when you are below the cloud it is a sign of a downward trend and when the blue line above the red is again a sign of a downward trend...
Conclusion for today’s AUD USD analysis: The AUD USD is expected to resume its current downtrend with 0.68264 as the minimum target.
The intraday timeframe of the AUD USD is investigated in this analysis from the January 02, 2019 price low of 0.67445 to current date. The chart pattern used to describe price action for the duration is a head and shoulders top...