Look to go short if USD were to strengthen (Since AUD is closely Linked to Gold, It could have a profound effect on this pair compared to others if XAU/USD were to continue lower)
Here is my analysis on DXY:
Short on these confluences:
Retest of Pivot Zone
Retest of counter-trend...
In this video, I present my analysis for your consideration.
- Price has hit a 4H Supply Zone
- The bullish "news candle" is due a pullback
- Hit the 70% fib
- Bear Flag pattern is playing out
- Looking for the H&S pattern to complete on the 1H TF.
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From my analysis, I expect the AUD to move all the way down considering the Daily Timeframe. This is not your regular technical analysis. It goes way beyond that, so be careful and move stop loss when necessary.
Execute a sell trade when price gets anywhere/or inside the grey rectangle and forms a known reversal candlestick pattern
TP 1 and TP 2 is...
As a mid to long term bias, I believe price may make a Head & Shoulders pattern and fall around 0.71375 to 0.7113
I suppose the actual bearish movement will happen mid of June when the neck line will be broken.
It was a long wait, but it paid off; it almost seemed as if the speculation did not want to end. One quality a trader must have is patience, more so than a fisherman. The next sensitive levels of Aud-Usd: 0.77500, 0.75850/0.76200 area, 0.74300, 0.73600, 0.72800. Medium-term target the return of the currency pair below 0.71800.
As meaningful as it may be, I am certainly wary and adamant of going against the dollar in the long-term.
With that being said, the horizontal support and resistance were filled with emphasis on the candlestick's closing at the > highest tick volume.
Hence, the research inferred me to scale the portfolio into a short-term "Short: AUD/USD" as the range breakout...
Since the low of 0.7 zone, just before the election, AudUsd had a good run up reaching 0.7350 zone.
Now the pair is consolidating and looks ready for a correction.
I'm bearish this pair as long stays under 0.7350 and as target, I search for 0.7150 support
This chart shows the situation of Aud-Usd. Possible in the next days a drop of the currency pair with the first target at 0,71600 and, then, the pullback on the resistance of the bearish channel.
There are other fundamental considerations (that I don't feature here) that give me a bearish view on the currency pair. Highlighted in the chart the "sensitive"...
*Note that ideas published represent my viewpoints on structural directional movements. I do not post explicit trade parameters (i.e. entry, take profit, stop loss, etc.) as these are set to in reference with my expectancy. Since my win rate and R-multiple targets are different, ideas published are simply a resource to provide guidance. You are expected to...
AUDUSD has reached the top of the ascending price channel. If we see some bearish price action at the top of the channel, it will be a good idea to start looking at some sell trades.
There is a chance that AUDUSD may drop back to the support level at 0.7150.
Traders can look at sell trades between 0.7263-0.7284 with SL above 0.73 and TP at 0.7150
Waiting for AUDUSD to decrease down to the point, shown in the post.
..Take it into consideration anything can be possible to happen, if it breaks up the support level this idea would be failed.
You never quite know where the next big wave or gust of wind is coming from, but you know it is out there.
The pair hit the resistance area and did not break, now we see a bearish trend and also there's an ascending triangle, which i see the price breaking this level and forming a strong bearish trend.
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