The AUD/USD underwent a strong uptrend followed by a corrective move, retesting previously conquered levels. It has now broken the trendline of the correction, indicating a potential continuation of the upward trend.
Daily chart:
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Dear Traders, hope everyone having an profitable week. Our last setup on AUDUSD showcased the possible future trend of the pair. Price came close to our area of entry.
In our opinion price already have completed the bearish move and the bulls have taken control over.
⚠️Confirmation Trade Reaction from BUY area ..!!!
🟢 Try to BUY🔼 all the Dips !!!
✅Confirmation 0.6600 zone
✅ Expecting Mid Term Bullish Wave
🔔 NEXT TARGET 0.6800
As we can see, The Double Bottom pattern clearly seen on 4h timeframe, and triangle pattern has broken, so we can plan for buy. But , you have to consider today's news, even if it's new zealand news, usually australia is still affected
*stay tune for the update
DYOR
Posting this to save the idea.
We still need daily confirmation from today's close to put this idea into play.
If today's close is under .6700 I will being looking for shorts on AU
#audusd
AUDUSD - 24h expiry
Previous resistance level of 0.6705 broken.
Short term bias has turned positive.
We are trading at overbought extremes.
A lower correction is expected.
We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
We look to Buy at 0.6625 (stop at 0.6590)
Our profit targets will be 0.6715 and 0.6730...
I'm long AUD/USD on the daily chart, and I'm looking for 0.67245 to touch. That's the red resistance zone.
This pair touched daily support a few days ago, and has since setup nicely to the upside, in my opinion.
This is not advice.
First of all, we know that NFP is in 2h so all this analysis can be invalidated if we are not tagged in before the news and i have to cancel my limit order
Furthermore, this trade idea is based on HTF intention of price action and reading the market structure, so we will break it down starting from the Daily timeframe
1D
4h
1h
15m
and time for our...
Analysis:
When we look at price action we've recently seen a strong rejection off of an area and price is making a move back down however we see this as a buying opportunity. If we look at price action before this rejection we can see that price did indeed form a higher high and a higher low showing us that we're in an upwards trend. This higher low hasn't yet...
the best scenario is to see the price mitigate the demand level for searching for buying opportunities from better prices
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don't forget your risk management
follow for more :))
AUDUSD - 24h expiry
We are trading at oversold extremes.
Posted a Bullish Hammer Bottom on the 1 hour chart.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
Although the anticipated move higher is corrective, it does offer ample risk/reward today.
Further upside is expected...
-Consolidation following a bull move.
-False breakout of the consolidation area.
-Bull move that breaks the area on the opposite direction.
-Possible profit taking that creates the pullback.
-Stop below the false breakout.
-Target the reference point of the first move.
1.95 r/r
Yesterday, the AUD/USD experienced its third consecutive day of growth. However, the upward trend is expected to face obstacles during Tuesday's trading session due to the impending Reserve Bank of Australia meeting.
Despite some analysts adopting a more hawkish stance and predicting a rate hike as the most likely outcome of today's meeting, money market traders...
we saw price switch back to bullish on the daily TF after that big drop, so we had a sign of buys, and what we always do? we look for confirmations on LTF
1D
4H
1H
15m
5m
1m
AUD/USD retracted around -4.4% from the June high, and it appears we may have seen a swing low around 66c. The pullback found support around a volume cluster from the previous rally and formed a 3-day bullish reversal pattern (morning star reversal). Soft US inflation helped weigh on the US dollar, and an RBA hike tomorrow could send the Aussie higher.
Money...
