The pound is bouncing back at the moment, but remember we're in a downtrend, that means we must be patient to find a level of weakness to sell it back down, and the Aussie has bounced back too, so at some point one of them will lose and it will be the one that cannot sustain long term growth without indecision and with Brexit looming, that can only be the...
As highlighted in the chart , the Aussie has been trending in a nice bullish channel on the weekly timeframe since Q3 2015 and we are currently seeing a test of trendline support which was last tested in December 2016 and preceeded a bounce from 0.71 to 0.76 Looking forward from today it would not be unrealistic to expect rates to cross the centre line which...
Looks like AU is consolidating and looking for a push up. Negative NFP could also push this up further.
Aussie dollar - Buy setup with targets at 0.7650 and then short from 0.7650 down to 0.7350
AUDUSD update: Consolidating price action after the recent leg of bearish momentum found buyers at the .7400 area. This is probably the most random type of price behavior a market can exhibit which means one thing for us: avoid. Momentum is still bearish even though recent price structure offers the appearance of some minor stability. Often these type of...
Tweezer Tops Wick rejection of Moving Average Fib Bounce Ineverted Hammer reversal pattern Target .7400
We rode this one down for some nice profit last week, and now signs have reversed. We've broken up into the cloud then out. I am looking to take advantage of this temporary USD weakness to get in a long position. I am looking for a drop to support then up and back out again with our TP at a strong level of support/resistance. If support fails to hold or our...
Audusd - daily chart - pending buy setup around 0.7520 with a great risk to reward and limited downside.
Australian dollar should get some strength to retest. I believe it will be rejected for further downside.
Downtrend retracement back to Kijun-sen 0.7643
Hi everyone this is what I see at the moment with pound if this markets changes from this situation then I will need to reassess Happy trading Kris
AU made 7 swings down creating an over lapping diagonal pattern breaking trend line creating a smaller diagonal as it did so. It can extend down a little more. We don't have full confirmation of reversal, but you do see the bands and the level that it is at. I believe it to be in correction, which considering the price action on the weekly I would expect a more...