AUDUSD Trade ideaFX:AUDUSD
Head and shoulder pattern emerging
The neckline is sloped upwards indicating that the bulls are still in control
Price is still above the 200ema = bulls (for now, anyway)
What's your thoughts on this pair?
Audusdtrade
AUDUSD Short trade idea1. A breakout to the down side occurred
2. Followed by a re test of the trend line from the under side
3. A sell signal would be ideal however....
I am taking an aggressive entry by shorting at market price 0.72356
SL Just above the breakout candle @ 0.72531
TP at the bottom of the rising trend around 0.70726
Always exercise healthy risk management :)
Trade idea for the AussieFX:AUDUSD
1. Breakout to the up side
2. Resistance being tested as support
3. Looking for buy signal to go long
4. If the support fails = no trade
5. More details to follow :)
Possible trend reversalFX:AUDUSD
Based on the massive double bottoms found on EURUSD and GBPUSD which are both correlated to this pair to some degree I take note of the following:
1. Double bottom formation (will complete if today's candle closes as bullish as it is now)
2. Trend line is being broken
3. 50ema is being broken
4. The current candle is a great signal candle
5. Last week's candle on the weekly tf printed a hammer (buy signal) followed by this week's bullish candle (confirmation)
I would expect to target 0.7500 with my stop at 0.7000
AUDUSD - Aussie/dollar pushes higher from support after pin barsAUDUSD – Aussie /dollar pushes higher from support after pin bars
The AUDUSD pushed higher last week from the D1 pin bar buy signal at 0.7750 which . We see the AUDUSD potential for price to continue higher this week and potentially test resistance at 0.7890 to 0.7990 area. AUDUSD Traders who are not already long from last week’s buy signal can watch for downward retraces / weakness this week to get long ideally on a 4-hour or daily chart buy signal whilst above 0.7750 – 0.7700 key support zone.
AUDUSD testing strong resistance!We’re seeing strong resistance at 0.7698 to 0.7741 (50% Fibonacci retracement, 61.8% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal swing high resistance, horizontal overlap resistance) and a strong reaction could occur at this level. Our next major level of resistance is at 0.7796 (breakout resistance, Fibonacci retracement) with our next major level of support at 0.7502 (Fibonacci extension, horizontal swing low support).
Stochastic (34,3,1) is seeing major resistance below 95% where a strong corresponding reaction could occur.
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Possible short on AUDUSDPrice hit resistance level on the daily TF that was last hit in April 2016. If you scale down to the 4H TF, Price bounced off the RSI three times before crossing down. If RSI closes below the trendline, we have a chance of shorting. The resistance and support lines are based on the Daily TF.
Possible target can be at the 0.5 fib level or 0.77007
This is for educational purposes only
AUDUSD right on major support, time to start buyingBuy above 0.7577. Stop loss at 0.7556. Take profit at 0.7642.
Reason for the trading strategy (technically):
Price is now right on our buying area. We prepare to buy above 0.7577 support (Fibonacci retracement, Fibonacci extension, horizontal swing low support) for a bounce up to at least 0.7642 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,5,3) is seeing a nice bounce above 4% with good upside potential.
Reason for the trading strategy (fundamentally):
It’s too tricky to call a move on NFP this month as there are too many mixed signals. Arguments for stronger payrolls include Challenger job cuts, employment component of manufacturing ISM rising, consumer confidence rising to 118.9. However, there is also strong arguments for weaker payrolls with Employment Component of Non-Manufacturing ISM dropping to 55.8 from 57.8, ADP Employment Falls to Lowest Level Since October, 4 Week Jobless Claims Average Rises to 243K from 239K, Continuing Claims Rises to 1.956M from 1.929M and University of Michigan Index Drops to 95.1 from 97.1. We lean slightly closer to USD weakness which means it is in line with our rise in AUDUSD.
AUDUSD continues to test major resistance, remain bearishSell below 0.7697. Stop loss at 0.7725. Take profit at 0.7634.
Reason for the trading strategy (technically):
Price continues to test major resistance at 0.7697 (multiple Fibonacci extensions) and we expect a strong reaction off this level for a drop to at least 0.7634 support (Fibonacci retracement, horizontal pullback support).
Stochastic (34,5,3) is seeing strong resistance below 93% where we expect a strong drop from.
Correlation analysis: AUDUSD and NZDUSD are both strongly positively correlated as seen in the histogram. Both are expecting drops for today too and it is always better when they are moving in tandem.
AUDUSD right on major resistance, time to sellSell below 0.7554. Stop loss at 0.7588. Take profit at 0.7490.
Reason for the trading strategy (technically):
Price has testing our major resistance at 0.7554 (Fibonacci extension, horizontal resistance) and we expect a strong reaction off this level for a drop to at least 0.7490 support (Fibonacci retracement, horizontal pullback support).
Stochastic (34,5,3) is dropping nicely from our 93% resistance with good downside potential.
Correlation analysis: Overall AUD weakness expected today with a drop on AUDUSD and AUDJPY.
AUDUSD Long TradeHi guys,
I am looking at this potential long AUDUSD setup. There is a bullish engulfing pattern on the 4H chart.
Long AUDUSDToday's trading setup is coming from the AUDUSD pair. I am looking at this pair and seeing a major support level. I am also seeing a price action confirmation. The daily candle is a bullish engulfing candle that has formed after a long-legged doji candle. This bullish confirmation after a hesitant candle is giving me green light for a long trade. If I decide to trade this pair, it will be after a small retracement towards 0.7475. My stop-loss would be placed just below 0.7425. My first target is the level of 0.7600. My secondary price target would be the level of 0.7750.
Happy Trading,
AUDUSD testing major resistance, remain bearishSell below 0.7589. Stop loss at 0.7622. Take profit at 0.7514.
Reason for the trading strategy (technically):
We remain bearish looking to sell below 0.7589 resistance (Fibonacci retracement, horizontal overlap resistance, bearish divergence) for a push down to 0.7514 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,5,3) is seeing major resistance below the 93% level where we expect a corresponding drop in price from. We can also see bearish divergence vs price signalling that a drop is impending.
To read about the daily technical analysis strategies in more detail, you can check them out here : www.theforexarmy.com
AUDUSD Long TraderI have been waiting for this setup from last week. Looks like AUDUSD is getting ready for a pickup
AUDUSD above major support, remain bullishBuy above 0.7696. Stop loss at 0.7643. Take profit at 0.7780.
Reason for the trading strategy (technically):
Price has bounced up really nicely above our support from yesterday. We now remain bullish above support at 0.7696 (Fibonacci retracement, horizontal pullback support, breakout level) where we expect a further push up to 0.7780 resistance (swing high resistance, Fibonacci projection). We also tighten our stop loss to 0.7643 to protect our profits.
RSI (34) is seeing ascending support holding price up really nicely.
still short AUDUSD @ 1h @ trading capability this 52nd week `16This is only a trading capability - no recommendation !!!
Next week i`ll confirm or change my opinion about this SetUp :)
Buying/Selling or even only watching is always your own responsibility ...
Best regards
Aaron
