The AUD/USD has been falling and isn't able to break above 0.7500. With the RBA minutes and employment this week, I want to sell a bounce to 0.7500. The parallel channel is lining up with resistance and is making for a good short. If we can get a bounce on the data of course. Chinese GDP didn't cause much fuss this morning.
Depending on Euro weakness this week, we have data for the Aussie Employment Change and Unemployment Rate, if these are to be negative then we could see the current support holding and the uptrend continuing. The does look to be a lot of buyers place around the that support zone of the 1.5700 area.
A trading opportunity to sell in EURAUD Midterm Forecast: There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 1.6190 would begin in Midterm. Technical analysis: The RSI bounced from the resistance #1 at 62 and it prevented the price from more gains. A trough is formed in the daily chart at 1.5425 on...
I was just perusing the AU weekly chart, and this rising wedge jumped out at me. So I drew a couple of lines and noticed: - Wedge bottom has 4 touches, plus a PERFECT Retest - Wedge top has 4 touches though not as perfect. - Start of drop from previous low is clear, so that is my flag pole. Thus I am picturing two possible targets: 1) Bottom of Wedge (previous...
short term long 0.753 then well see it rain next Lower low 0.717
These zones are calculated using Fibonacci Ratios of past price moves. Fib extensions and retracements are projected forward in time and price. If price bounces or reverses, it will probably do so at one of these zones. Check my previous ideas for the PRECISION of these zones. I will update as new zones are defined by upcoming Fibs.
Lately, the Aussie Dollar has been picking up steam but came short as it hit the downtrend line. The rally on the Aussie may have been exhausted, or it could be taking a break. We'll wait to see what happens. Happy Trading, folks! Cheers!
GBPAUD has been performing as I expected and predicted on my YouTube channel some time back. With the completion of wave 5 to the top of the structure, I have been in a short and expect wave 6 to complete to the bottom of the structure over the coming weeks. If you are not in the short already, there is an opportunity approaching to enter this trade. There is a...
We can see the formation of a 5 wave corrective structure on the daily time frame which has broken to the downside. There is a smaller structure which has formed below the daily structure. A break of the smaller structure should indicate the continuation of price movement to the downside. The 3 Take Profit levels are indicated using Fib retracement targets.
judging from some templates and overlays of indicators, AUDCAD is still in nearer term, uptrend, and will move higher before going south for better pickings. placed short position where I think price will move. arrows show my market predictions. lots of chop.
Audusd - Daily Chart - Weekly closure below key res levels tells me there's more selling pressure left for this pair.. I am selling this pair down to 0.7200 where i might load up on buys..
OANDA:AUDUSD For educational purposes only AUD/USD is rejecting price at the 50% fibonacci retracement level which is also a very key level of support on the day and week chart (see red line which indicates support level); possible rebound from previous lows to high extending to at least the 127% fib extension level.
EURAUD is back to a previous resistance level. Moreover, the Aussie dollar has been sold off heavily as of late and nearing oversold conditions. Taking both of these factors in to account, this is a safe short.
Hi guys, After one month vacation in China, Hong Kong, and Canada, I finally returned back to Australia. Let's see this currency pair how bad it was. By using simple trend line analysis on the left chart, you see the recent structure retested back to a black valid trend line that drawn from 2016-01. The red star gave you some ideas that AUDUSD could not able to...
The Aussie is heavily influenced by China economics and it's use of 'hard' commodities like Iron Ore, Copper, Nickel, Coal and of course Crude Oil and GOLD, and the Canadian Dollar is heavily influenced by the price of Crude Oil and we know the state of these commodities and precious metals right now, yes heavily BEARISH! But doesn't that mean this pair rise and...
I've been tracking this fun pair for some time, long-term we're in a bearish channel coming off the 2010 crash, and we're rotating nicely down through the channel, we hit the top of the channel October 2017 and we're now on the bearish leg, having failed a bull push back up through the descending trend line which has now been respected by formation of a lovely pin...
This pair has been range bound since April and has been in and out of the range area bouncing off a rising trend line since 2015. RSI is now declining after rejecting the high of the channel for the fourth time and I'm setting a buy order @0.74 with a trailing stop below previous support and the trend line down @0.73 so reduce your leverage to ensure it's within...
AUD/USD - UPtrend likely to continue (Log monthly Chart)