This past Monday I commented on how I was looking to sell the AUDUSD below 0.7608. At the time the pair was trading at 0.7618 following the bearish engulfing pattern from March 21st. I received a few emails in support of this idea. However, the majority of those who responded were against selling the AUDUSD. And as I look around, that appears to be the...
The AUD still has strength left. It's currently pulling back to a strong support area in between 50 and 61.80% fib restracement. Chikou span is at the low trend line, similarly you see RSI touching support soon. Strong macro economic figures being released from US tomorrow. It might be the catalyst for a breakout.
Our Plan Sell @0.7695 SL-0.773 TP-0.76 (We have sold small lot @0.7675)
The AUDUSD has been all over the place in the last few months. First, we had the massive 600 pip plunge between early November and mid-December. Then came the 580 pip rebound which was even more aggressive than the decline. However, since the February high at 0.7740, the pair has been trading in a 250 pip range. And despite the impressive March 15th rally...
Apart from Monday’s session, the AUDUSD lost ground every day last week. It started with Tuesday’s bearish engulfing day and ended with a slight loss on Friday after a test of 0.7608 support. A quick study of the weekly chart shows what appears to be a twelve-month wedge pattern. The structure began developing after the 2,600 pip landslide that took place between...
Fractal fit from Mar 2015, good touches on pitchfork.
we are in a steady move to the downside, 1.36 capped the double top at the 50% fib level - with the neckline at 1.30 on the horizon a break below will unlock 1.25 as a potential target. This 1.25 is also the 76.4% retrace from April 2015 lows. Keep one eye on 1.34 as the handle, this is needed to be broken to show significance for the bull run. Best of luck...
lets see if it holds the channel. If not, breakout long
The Australian dollar has been one of the more resilient currencies against the greenback so far in 2017. Between January 1st and February 23rd the pair gained an impressive 550 pips. I went short at 0.7730 on the February 23rd retest of resistance and also added to the position using the bearish pin bar that formed on March 7th. All in all, it was a good trade,...
Hello fellow traders, Forex likes patterns so, this is copper take a close look and tell me that is is not the same as W1 AudUsd. SELLLL AUD USD that is done. See you.
audusd has been seeing some upside within the recent bottom that formed since early 2015. Last month gave us a bullish engulfing and currently we are testing the neckline of the larger h&s pattern since June 2015. A break above will mean a large move to the upside targeting 0.8150, May 2015 highs. Near term pullback should be cushioned at the 50 MA around .7490 lets see
Maybe im bias with open short positions and too risky to trade on at the moement, but this is just an idea at the moment. Entry: between previous resistiance zone and support area in pink. SL: well above 0.7630 TP at 50% level. will keep an eye on where we close for the day. I suspect a spike to the above entry then a fall.
Looking at the AUDUSD D1 chart, I'm MT bearish bias where I'm gonna short this pair when it comes to my resistance & SND region between 0.7600 - 0.7650.
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...
I hold a point:Good charts does not more words to explain! Good luck!
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
-AUDUSD has been rejected by a huge resistance level - It has broken the trendline signaling a trend reversal and a good trade oppurtunity. -I am waiting for a pullback off the support line for entry. -as we have broken trend nice tight stops can be used as it is highly unlikely to break to new highs. (i could even make them tighter but will stick with it for...