Looking at monthly ranges, we see that months with sharp selloffs, that surpass the previous true range, as measured from the open to the low, have been causing sellers to get trapped at increasingly higher prices. This is bullish and shows accumulation, and shakeouts taking place. The monthly chart shows a mode near the highs, and now we're testing support at the...
The Aussie broke through long term channel support in mid-November; falling nearly 300 pips in 3 days, before finding support above 73. Pair has since retraced approximately 61.8% of the decline from 7580 and is testing the .7440 - 75 former support zone. We are looking for a turn lower from here and an eventual break below the 5 month low at 7285. Alternatively;...
Talking Point: Technical Strategy: Confirming it's bearish outlook Elliottwave View : Confirming completion of wave (C) of c Analysis AUDCAD was trading sideway from Aug-2013. We were seen May-2015 a declined again but unable to takeout Aug-2013 low in impulse manner. We were experienced a bounce from 9170 area in May-2015. However, upside was corrective...
I'm monitoring price action here, I think we can add to longs after today's close, buying into new daily highs with half position, and tightening my initial entry stop to today's low, on close. For now, we need to wait patiently for the daily close, and then we can add with comfort. If not in, wait for the close and buy as indicated. Good luck, Ivan Labrie.
Last week AUDUSD was rejected again from the 0.77-0.78 daily resistance zone which is also the PRZ of a bearish Gartley (pink). The difference between this time and the previous times it was rejected from this price zone is that now AUDUSD sell off drove it below 2 MA lines and the bottom of a trading channel - Bearish sign Now 0.75 will be tested as support....
NZDUSD is at a good support zone, and could turn up from here, following gold, which is very oversold. I'm waiting to enter long here, I'd like to see how today's bar acts, to buy into strength going forward. You shouldn't rush into gold or NZDUSD longs right away, but, should monitor how today behaves first. The negative news surrounding New Zealand serve as an...
Talking Points: AUDNZD Technical Strategy: Re-initiating Long position Elliottwave Count: Reversal is in process after wave 2 completion Analysis AUDNZD is expecting to complete it's wave 2 correction @ 1.0350 after having an high over 1.0726. We were seen corrective move towards 1.0350 in expanded flat correction. We also had a nice bounce from channel...
EURAUD has a massive coiling pattern in all timeframes and it's now breaking out, we can expect a dramatic drop towards 1.3211 from here. Go short at market, add on dips, risk 1% max on all positions. Stops should go above 1.4604. Good luck! Ivan Labrie.
AUDUSD might break at the higher time frame resistance, but has limited potential to continue going up and breakout at 0.7725 unless the result of US elections or hawkish RBA pushes it up. Risky to sell right away as well without any further confirmation. Waiting for candlestick confirmation past 0.76411, as well as fundamentals and ADX confirmations before going...
Talking Points: Austrian Traded Index (ATX) Technical Strategy : Hold until Triangle breakout Elliottwave Count : Triangle Analysis ATX (Austrian Traded Index) is in wave (B) which is in triangle formation. We are in last phase of triangle (wave e). We possibly see last pull leg up or in alternate scenario, we possibly see downtrend from current level. We...
The trend is now up, and we have a weekly 'Time at mode' signal pointing to 22.59 as the target. Risk is a drop under 19.37. You can buy dips, or speculate on copper, or on FXA or AUDUSD as well. Steel/Iron ore is also looking great, which makes this a sure buy. Shares of X or STLD would be a nice buy as well. Good luck, Ivan Labrie.
Despite the RBA leaving its economic policy unchanged, I still have a gut feel that this pair might drop soon (and as any feelings, they're just feelings, so it's highly likely that I might be wrong and I'm just relying on technical analysis too much + my current bias on USD strength). Waiting for confirmation candles to drop at 0.755 or rise to 0.76833 before...
In my previous publication I had signaled a good spot to go long AUDUSD, based on the support level that was tested, after breaking out of a linear regression channel, and landing on a VIX generated support zone. Commercial traders have been a reliable source of information so far, and you can read my analysis on the subject in the previous post. I have part of my...
Talking Point: Technical Strategy: Turning Bullish Elliottwave View: Possibly flat correction over. Analysis We were bullish on AUDNZD since Sept month and booked handsome profit on reversal 1.0340. We now looking to re-initiate long position on confirmation. Current pricing structure suggesting a flat correction near previous wave 4 region. This region...
With the near term sentiment on Aussie being bullish, and a decent rejection formed off the 1.0680 area, we are seeing a good opportunity to long the AUD and short the NZD; bearing in mind that another rate cut is still very much on the table for the RBNZ.
This morning quarterly CPI came in beating the estimates. We might continue to see some bullish momentum on the Aussie for the day.
AUDUSD has a very bullish long term, intermediate term, and short term chart. We can add to our core positions, if we make a new daily high. We can also take a short term trade once that happens, with a tight stop at the previous daily bar's close. Target is roughly 0.77 for the short term position, and over 0.8350 for the long term entries. Long term positions...
We have a potential breakout of considerable scale in the Aussie dollar chart. I'd highly reccomend entering longs if not in, you can risk either 3 times the daily ATR for the long term, or use Friday's low as your stop, more aggressively. The target is the 0.8350 handle, to be confirmed after the bi-weekly time at mode signal on chart confirms. For now, it's not...