Buy above 0.7632. Stop loss at 0.7608. Take profit at 0.7683.
Reason for the trading strategy (technically):
Price has reached our profit target from Thursday. We are now bullish above major support at 0.7632 (Fibonacci retracement, horizontal overlap support) for a push up to at least 0.7683 resistance once again (Fibonacci retracement, Fibonacci extension,...
Hi guys! Hope u r all ok after last nights storm!
This is my vision of the next moves for AUDUSD. In my opinion the trend in bullish and we will possibly see 0.78400 or even 0.78600. The last correction within the purple waves count is not heavy enough and we might see the correction to proceed until 0.76400s and then start moving to 0.77783 and in this case I...
Buy above 0.7520. Stop loss at 0.7440. Take profit at 0.7730.
Reason for the trading strategy:
Price dropped perfectly as expected and reached our profit target. We now turn bullish above 0.7520 support (Fibonacci retracement, horizontal overlap support) for a push up to 0.7730 (Fibonacci extension, horizontal swing high resistance).
RSI (34) sees long term...
Sell below 0.7605. Stop loss at 0.7650. Take profit at 0.7517.
Reason for the trading strategy (technically):
We remain bearish for a further drop, looking to sell on strength below 0.7605 resistance (Fibonacci retracement, horizontal pullback resistance) for a further drop to 0.7517 support (Fibonacci retracement, horizontal overlap support).
RSI (34) sees...
This is only my prediction.
Many of us still have a lot of questions about this move.
Today AU break resistance, and it become support to make new high.
I will look for Sell position at Strong Weekly Key Level for Retracement
We will see in a week or two. Happy Trading
@scandicfx
Sell below 0.7668. Stop loss at 0.7695. Take profit at 0.7603.
Reason for the trading strategy (technically):
We remain bearish with price having broken our long term ascending support-turned-resistance line triggering a bearish exit to push price down. The goal is to sell below 0.7668 resistance (Fibonacci retracement, bearish pullback resistance, horizontal...
Buy above 0.7668. Stop loss at 0.7646. Take profit at 0.7733.
Reason for the trading strategy (technically):
We remain bullish above 0.7668 support (long term ascending support, horizontal support, Fibonacci extension) for a further push up to 0.7733 resistance (Fibonacci extension, horizontal resistance).
RSI (34) is seeing strong support above the 41% level...
Buy above 0.7655. Stop loss at 0.7603. Take profit at 0.7780.
Reason for the trading strategy (technically):
We remain bullish above long term support as 0.7655 (Fibonacci retracement, long term ascending support) for a push up to 0.7780 resistance (long term resistance). We watch RSI closely to ensure we are not being faked out by a bearish exit.
RSI (34) is...
