Im entering in a short position looking for 2 main targets!
Target 1- 0.75200 with 1.75 risk reward (stop loss 0.77200)
Target 2- 0.73600 with 3.84 risk reward (stop loss 0.77200)
Enjoy!
Albx
I have been waiting for this Aussie to hit this level for weeks. I'm all over this short. Very high probability setup. Although we always have to keep in mind that even those can fail sometimes :)
Stop above the high at 0.7800 and target at about 0.7525. Nice R/R too!
Hey traders! No surprise here on the RBA release, but a good reason to buy a breakout now while we're channeling upward. Also, we may see some sympathetic long bias after the NZD inflation was released to be pushing 2% q/q. Long is active. Cheers
The RBA rate decision tomorrow at 0330GMT has unanimous expectations for rates to remain unchanged at record low 1.50% (ASX 30-Day Interbank Cash Rate Futures pricing in a 95% chance of a hold). Data has been weak since the last meeting with Unemployment Rate rising for both December and January and is now at the highest since June 2016, while we also saw a miss...
After a loosing trade anticipating short in the process of being stopped out we broke through the current downward trend line, with a confirmed continuation aswell along with MA's being crossed to upside i am targeting a 1.27 extension of the previous move up with targets around 0.76450 area
Previous wave up was broken.
We are in a pullback that shaped pennant pattern (variation of the flag pattern).
Watch Fibonacci retracement level reaction for target.
currently short audusd and after bearish engulfing off of downward trend line on two hour after multiple rejections, market also rejected key monthly level along with MAs failing to cross to the upside on the 4 hour chart. putting these multiple confluences together i am targeting a downside move to 0.7500 area
If you missed the AUD/CAD short I posted recently you may still have a chance to enter if prices pullback to and reject the highlighted area. My overall bias remains short despite Friday's bullish candle. I will watch prices in this area, but if prices continue higher I will watch prices at the 61.8 fib for another short there
AUDCHF is about to breaking the neckline which will complete a head pattern. Just wait for a weak candle to confirm the breakout and then look for short entries. First target will be next support zone and fib 50% level.
FX:AUDUSD
Similarly as NZD/USD the aussie is testing a major resistance - the old former falling channel support as the new resistance which has proven to hold the rate since the start of 2015.
At the moment I am looking at this as a symmetrical triangle formation and the next move will depend on how the rate reacts to the current levels.
For a new long...
