$AUDJPY offers a nice entry on dips here, the same way as in $EURJPY, the trend is now up in both daily and weekly charts, which gives us a terrific opportunity on the long side.
Best of luck,
RBA hawkish tone overnight strengthened AUD, now approaching resistance at round number, testing yesterday's highs. Look for reversals and patterns on smaller time frames, or see if the price continues to push higher.
I'm long, there's an explosive technical chart at play here, if it accelerates soon, a very sharp move will start from this juncture.
Copper is also set up to move up explosively, and I see bullish patterns in multiple currency pairs like $CADUSD and $EURUSD (which we are already long from the lows). Commodities also exhibit bullish patterns, like $NGAS, $XAGUSD,...
The most important points before the rate decision and the interest rate statement tomorrow morning:
The RBA abandoned its confirmation that the next step is to raise interest rates
Many expectations suggest a rate cut this year
The bank cut its economic growth forecast at its last meeting
The Bank may prefer the negative outlook for the economy,...
From the daily chart perspective bulls got the chance to try to move back at least towards 1,0550
RBNZ dovish, so upcoming RBA if neutral stance should be enough
US China trade war
AUD Annual Budget Release
Buying dips towards 1,0380/50 with stops below 0340. First target around 1,0550.
The AUDUSD is approaching a key level in a 14 month negative trend.
With the RBA announcing their interest statement tomorrow, we are expecting a dovish stance.
SELL with stop loss above resistance of 0.7168
Take profit set at 0.7060 and then 0.7020 in extension.
AUDUSD is capped in a 14 month negative trend
It has just reached resistance due to strong unemployment data, however RBA are possibly looking at an interest rate cut this year.
SELL down to 0.7070, stop loss above 0.7170
Pretty sizable gap away from the base of a triple bottom (yellow rectangle)...how to interpret this??
Someone or something with deep pockets is eyeing the .707 area, perhaps a barrier option slightly below at the .706 demand level?
Either way let's map out the possibilities...
If this gap closes down, I think it could spell trouble for buyers who bought heavily...
There are a few opportunities which we have discussed privately on AUD and why it is a good time to be getting long on AUD crosses (namely AUDCAD or AUDJPY). Here I am nervous over USD strength as we begin pricing in a Q3 hike there so with Gold moving down in an impulse move (see attached ideas for more colour on that topic) the short here seems reasonable....
With the potential Trade deal getting even closer among the worlds two largest economy and trump delaying the tariffs, The Australian Dollar may appreciate but NOT too much. In the analysis below i explained why the AUD is in for some benefit but DO NOT expect it rally should the trade deal be made!
Same goes Fundamental...
With Tariffs delayed which were suppose to come into effect on 1st march and renewed optimism that a trade deal could be reached soon between the world two largest economy, Aussie could be in for a benefit! China usually imports many of its raw material from Australia and if a trade deal can be reached soon (which is a likely scenario) aussie dollar could make a...
By Andria Pichidi - February 13, 2019
RBNZ held the official cash rate at 1.75%, matching widespread expectations. RBNZ reiterated its pledge to keep the rate at the current level through 2019 and 2020. "The direction of our next OCR move could be up or down", they repeated.
The statement for keeping rates low, for longer than what has been stated so far, along...
I have to credit user BenWright21 with this idea:
Currently, the daily time frame is in the midst of a H & S pattern and has seen nice follow through the .718 level. If price continues to climb, the .7325 zone is the level to watch for a pull back. Not only do we have a sizable gap...
The above picture is the monthly charts of the AUDUSD pair showing the near by concrete support and resistance levels. The flash crash that happened few days ago has affected many FX pairs and as the evidence suggests the aussie has clearly rejected both 0.6700 and 0.7000 level in the process. As the support levels were...
This is based on the observation of the downward AUDUSD channel established from the beginning of this year.
Apart from the technically lined lower lows and lower highs along well defined trendlines,
a fundamental observation can be linked with the fact that we have observed cycles of:
- Bullish Signs: Lower Unemployment rates, high GDP growth approaching 3% and...