Please see annotated chart for details.
Short taken on Friday. noticed the 3rd trend line touch, alongside the formation of a tweezer top at the 50% fib level. The MA's have also just crossed indicating downside momentum when you go down to 2H time frame, which i entered off after a counter trend line break. entry @ 0.7318 stop - 0.7370 tp1 -0.7165 tp2 - 0.0750 1:3 risk reward peace !
Believe NFP will cause the AUDUSD to drop in a downtrend to support level of 0.7216 area, to test. Placed a sell limit to short at 0.7370
at first the price consolidate and fail to break 0.72150 area of resistance.. Price goes back to the consolidation not long after it breaks forming a fakeout scenario, also the daily close are showing a shooting star candle indicating the market will go a lot lower to 0.71165 area of support.. If the price manage to break 0.71165 we will see aussie dollar go a...
2x rejection on the Reisstance level at 0.72150 also they are align with the pivot point.. I trongly believe Aussie will moves lower sooner or later to the key area of support at 0.71165. Always remember to take profit a few pips above the support level. HAPPY TRADING ALL
Fundamentally: growing monetary policy divergence between the Fed and RBA. Technically: AUDUSD has broken the 2016 uptrend line. A 38.2% correction from recent lows was to be expected, given the sheer pace of dollar strength. The next leg is down to 0.70. Perhaps the best trade going into 2017.
a strong bearish close below 0.73700 will present a shorting opportunity for Aussie. a pull back with multiple rejections of Fibonacci will also provide good opportunity. see chart for targets
JPY weakened, and the always in context for AUD/JPY remains long. Buy and hold.
Since 2011, the Aussie has been steadily declining. Heavy price action has been highlighted above in green, and as recently as early 2016, we can see a strong resistance level around .7659 . Not only does DailyFX cite that the Aussie remains in a downtrend, a quick google search on "Australian economy slowing down" (and limiting to past 30 day results only)...
It appears to be in a bull trend, and worth buying and holding for an extension.
In this idea i put the trendlines of AUD/USD .You can clearly see how chart follow those trends...
Here is a good chance to go long on AUDJPY. On 10/24 the price tested and broke the r(0.937) linear regression of the last 8 months. Taking a closer look into the chart we see a clear and systematic uptrend. --- "It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong. " - ...
After a couple of weeks of selling for the Aussie I still think we are destined for the downside once again. if the market can come up to the kill zone around 0.74800 where there is significant Fibonacci confluence it will present an optimal opportunity to get short with an excellent risk reward. ill be looking for multiple rejections or double top or something in...
Why AUD/USD seems to be bullish: - AUD/USD has stayed above 20-monthly moving average 4 months first time since 2012. - Since 2016 it has been trending higher making higher lows. It's currently sitting on 20-weekly moving average. - 200-daily moving average has turned upwards - Commodities pressure is easing - DXY standing at 2 st dev's above it's historical...
The AUDUSD has been on massive downtrend. I noticed that there is a bearish pennant formation. I think price will continue downtrend to head down to 0.7320 area support.
Potential spring after Selling climax. It can result with move higher (purple). I'm consider it as correction for the moment. Watch for market reaction on resistance levels (blue). Alternative scenario - continue down move in red.
Price broke major key support on daily chart. Price will head down to 0.7508 area to test next support.
The GBP/AUD pair is starting to move lower in line with the dominant medium-term downtrend after a positive assessment by the Reserve Bank of Australia (RBA) lessened fears they would devalue the currency. This Bearish setup was taken after the clear rejection shown on the 1H timeframe of resistance above, taking a clean 1:2 Risk & Reward