The Aussie (AUD/USD) could fall towards a pullback support and potentially bounce off this level to climb higher. Buy entry is at 0.63931 which is a pullback support that aligns with the 61.8% Fibonacci retracement level. Stop loss is at 0.63588 which is a level that aligns with the 78.6% Fibonacci retracement level that sits under a pullback support. Take...
Drawing from our analysis of this pair in the past few weeks, we have seen this pair show considerable movement in both directions: bullish and bearish, especially on the 1 hour and 4 hour timeframes. With the spike across all USD crosses last Friday, this pair, like all other USD crosses, lost its bearishness and u-turned bullish on the 1 hour and 4 hour...
We are about 8 hours away from the latest Reserve Bank of Australia interest rate decision. That decision is due on Tuesday at 2:30 pm (local Aussie time), a couple of hours before the country's biggest horse race, the Melbourne Cup ($8 million in prize money) is set to take place. But perhaps the more exciting match ups will be occurring in the forex market....
AUDUSD is trading close to a pullback resistance and could potentially reverse to drop lower towards our take profit target. Entry: 0.65215 Why we like it: There is a pullback resistance level Stop Loss: 0.66055 Why we like it: There is a pullback resistance level Take Profit: 0.64127 Why we like it: There is a pullback support that aligns with the 50.0%...
The Aussie (AUD/USD) is rising towards a pullback resistance and could potentially reverse off this level to drop lower. Sell entry is at 0.65218 which is a pullback resistance. Stop loss is at 0.66250 which is a level that sits above a pullback resistance. Take profit is at 0.64127 which is a pullback support that aligns with the 50.0% Fibonacci retracement...
GBP/AUD is rising towards an overlap resistance and could potentially reverse off this level to drop lower. Sell entry is at 1.90281 which is an overlap resistance that aligns close to the 38.2% Fibonacci retracement level. Stop loss is at 1.91000 which is a level that sits above the 61.8% Fibonacci retracement level. Take profit is at 1.88986 which is a...
We can see we've just broken out of my channel top after a strong bullish move, but this isn't the first time and we're hitting strong resistance. Swissie has been weak of late, unlike the Aussie, so I believe this can go either way. I'll be looking at longs around 0.589 if resistance is broken, but we may well fall back first. If we fall back below 0.578 then...
Check out the support line. Price keeps bouncing of it and at the same time forming a falling wedge. I'll keep an wye on this, I want a little more price action to jump in. But looks vert tempting.
On October 2022 the pair broke out a massive double bottom. After that it consolidated for months to break out again. And now it came back to a important support zone. I think that double bottom still active and there is more gas in the tank. Great opportunity to pick it up here. It may consolidate a few more days to shoot up again, I don't know but I'm already...
Hey guys! We promised to give our trade setup as a new trade idea. Here it is guys! Drawing from our earlier last-week analysis, we saw this market push bearish on the 1-hour chart. Our analysis had shown signs of a bulish retracement, and we had marked out the expected retracement zone. In the cause of the retracement, our zone was breached, and so we looked on...
We are witnessing a strong bearish momentum on this pair. From the Monthly to the 1 hour charts, all the timeframes are bearish. Comign through from yesterday's analysis of this pair, we see how prices have continued to melt towards our 4 hour and 1 hour timeframe targets. From yesterday, we see how the market gave is a nice dip that went to hit our liquidity...
AUD/NZD is rising towards a pullback resistance and could potentially reverse off this level to drop lower. Sell entry is at 1.09143 which is a pullback resistance level. Stop loss is at 1.09550 which is a level that sits above a pullback resistance level. Take profit is at 1.08455 which is an overlap support that aligns with the 23.6% Fibonacci level. High...
In the preceding days, we conducted an analysis of this pair. Among the things we found on the first day of this week was that this pair was Bearish. Our analysis revealed that the market was heading Bearish to hit the 1 hour and 4 hour liquidity targets. Two days ago, on Tuesday, we saw the market go on to hit the 1-hour Bearish liquidity target. Even though the...
AUDUSD D1 Similar setup here for the aussie/dollar. We managed to get off the ground a little bit faster here as compared to cable. That being said, we also got caught with that liquidity dump and spike, which punctured support and stops before flying higher. I feel we may see some rejection at 0.63800, before then gearing up to break upside, largely depending...
The Aussie (AUD/USD) is rising towards an overlap resistance and could potentially reverse off this level to drop lower. Sell entry is at 0.63471 which is an overlap resistance that aligns with the 61.8% Fibonacci retracement level. Stop loss is at 0.6410 which is a level that sits above an overlap resistance. Take profit is at 0.62937 which is a pullback...
We can see another rejection from the 1.0915 level, making this a local triple top, I think we will break this and move higher in the coming weeks, however expecting a short term retracement first, to around the 0.5% Fib.
There's talk of the BoJ lifting the limit on yields to 1.5% from 1% this week, which would be a very strong catalyst for the Yen to start showing some strength. We can see that this pair does not have any direction at the moment, trading in a flag pattern, but I don't see this as either bullish or bearish at the moment. I'm not sure how or when or if to trade...
We're coming to the end of the long-term descending triangle. I'm generally expecting some big shifts across the markets by the end of November, in terms of reversals and this is one pair hot on my radar. I don't thin we'll break out for a few weeks, but I've got daily tabs on this, as coming to the end of the descending triangle with really solid support. Cad...