Here we got the Aussie that went down to major Support several times, marked in circle the last hit. Here we got a big retracement with a double top, where we hope to capture a new downmove down to the major support on this Cypher pattern. Watch out for the RSI to move in to overbought condition also.
Remember this is kind of a counter trend move, at lease on the...
On Friday the Aussie formed a bearish engulfing bar on the daily chart, it broke and closed below the resistance level at .788 and has clearly broke out of the ascending wedge.
In the short term we should see lows of .76000 with the possibility of .7200 in the near future.
See below for daily chart.
Did this in a rush. Plz check the fib levels for correctness.
Possible AB CD move will take this to .. 382 level.
Trade is on.. so..just waiting for market to ..give me a result soon.
Will probably be linked with US news ( hopefully soon) Also see..ref. chart !
AUDCAD is setting it self up to be the champ in patters these past weeks, we are now coming up on a Bear Gartley on the 1h. Stops at = 0.8047
Target 1 = 0.7944
Target 2 = 0.7911
RTR is about 1/1 on target 1, better is you are shooting for 2 targets.
Myself with others are building a brand new Forex Community www.forexviewers.com
A great way for you guys to get...
The Aussie has broken various resistance levels this week as R1 for April at 0.7840, the MM 100 at .7885 and topside line for the last up prices. it´s starting a pullback movement that likely go to levels previously broken.
Risk reward ratio is about 3.9 to 1. Both 89 & 144 EMA lie within sell zone. With USD news coming out today, price could reach our entry zone very shortly. Aussie leadership would like price at least .7500 handle to promote exports.
Expect Long term Channel can Provide Support. But Long term Channel Break will Provide a High Probability Trade. But Continuing Shorts until Such time.
Yellow levels are daily support and resistance.
Red levels are h4 support and resistance.
There are two possible trades here, if PA suggests when the price trades up to the red level that there are loads of sellers I would short.
Otherwise if the red level breaks (which I think it might) that level is essentially useless to me as it was previously...
BASIS FOR SHORTING THIS TRADE
PIN BAR FORMED AT
0.7700 RESISTANCE
D1 20SMA AND 50SMA
H4 200SMA
50% FIB
PRICE HAS FAILED TO CLOSE ABOVE 0.7700 3 TIMES ON THE D1
SLIGHT BEARISH DIVERGENCE ON THE H4
HOWEVER, THE ONLY OFF THING ABOUT THIS TRADE IS THAT THE RISK REWARD CURRENTLY IS NOT FAVOURABLE. THUS, I MAY KEEP MY HANDS OUT OF THIS TRADE.
H4 CHART
...
AUDUSD short setup:
This pair has recently sold off from the third touch of daily trend line it seems to have formed. Price has been somewhat ranging and currently seems to be forming a bearish flag/wedge like pattern. Price bounced from support and may have completed its C retracement at the 50 fib level which is confluent with the daily 200MA, however there's a...
AUDUSD - Potential Short Imminent (2nd Entry) with FOMC's Minutes later today
Please check the main chart with link below which shows larger bearish cycle with lot of room to the downside.
I am publishing this chart purely because the nature of retracement seems to suggest we have abc zigzag retracement with potentially wave "c" as being ending diagonal (Rising...
AUDUSD HAD A SPIKE UPWARDS. THIS SPIKE HAS MET RESISTANCE AT 0.77 FAILING TO CLOSE ABOVE IT.
MOREOVER ON THE D1, PRICE HAS BROKEN THE MOTHER BAR AND FAILED TO CLOSE ABOVE IT SINCE, CREATING A FAKEY.
SELL NOW AND TARGET 0.76.
STOP OUT POSITION IF H4 SUCCESSFULLY CLOSE ABOVE 0.7700 OR BREAK THE HIGH OF THE H4 PIN BAR.
The GBP/AUD pair has endured a powerful bear market since 2001, however, many correlating indicators are suggesting that we may be close approaching a confirmed pivotal change in the dominant trend.
Our first major indicator was the cross of the 50/200 Exponential Moving Averages which occurred in January of 2014. The last time these indicators crossed...
The Aussie has broken supports, first support formed by zone between 0.7735-0.7750, and second support formed by channel's bottom at 0.7700. Now we can see a pullback testing these zones how resistence. Also we have the line of MM's 200H doing resistence. Likely the price goes to zone 0.7490-0.7470
WITH ALL THE SELLING OF GBP NZD AND EUR.
IT IS NO SURPRISE TO ME THAT AUD WILL FOLLOW SUIT AND SELL OFF, CORRELATION WISE.
(NZD CORRELATES WITH AUD, EUR WITH GBP.)
LOOK HOW PRICE REACTS WHEN IT NEARS THE 200 50 20 SMA CONFLUENCE AREA.
AND LOOK TO SELL ON BEARISH PRICE ACTION H4 LEVEL,
PREFERABLY 0.785
NOTE :
DOUBLE BOTTOM @ 0.765
PRICE REJECTED FROM 200SMA...
Watch AUDUSD H4 (20 Min)
1. Support was broken @0.80467
2. Will try to re-test last high
3. 10 SMA, 50 SMA and 200 SMA are lagging behind and are close to the last high
4. 0.618 fib level is right at the place where last high was making it a good place to short
5. Stop @ 0.81758
6. First Target @ 0.79255
7. Second Target tail as it is reaching weekly support area...
Apologies for repeating this post my chart didn't come out properly but still the same analyses on AUD/USD 4HR
Monthly support broken now historically finding a previous floor with 2 targets in mind. First is the daily fib 3.618 retracement 2nd the next level down which is also the length added from its average range and confluence with a monthly support. Lower...
