The AUDCHF is in a clear downtrend and hitting the H4 MA now.
The pattern to sell is at 0.6505 but the pair is running out of breathe to get there.
We are hence selling at Point C for a 40-60 pip ride.
Stops above 0.6520.
AUDCAD is still in a downtrend. We shorted it previously which was very successful and now looking for it again.
M15 and M30 is showing reversal signs.
We have strong resistance at 0.8860.
Holding for at least 50 pips.
In our analysis, we see that AUD is likely to keep losing value against big currencies. Follow to hear more!
Entry: 0.677
Stop-Loss: 0.682
Target: 0.666
Have a nice week!
Fundamentals:- The RBA will be making there rate announcement next week which is not expected to change. There is concern over the levels of consumer debt at the moment and lagging GDP. I expect the AUD to weaken against the stronger USD next week especially after the stela NON Farm Payrole figures on Friday.
Technicals:- There is an nice area of confluence...
We have a bearish cypher and a gartley pattern forming here. Sell cypher @1.01145 and sell gartley at 1.0081.
The cypher pattern has very strong resistance above X for stops (see higher time frame) which make it a great opportunity to sell. Furthermore, this gartley pattern has a great Risk/Reward ratio as D completes way up near X so stops will not be too far...
BOC rate decision expected to remain on hold with positive comments. RBA have left the door open for further rate cuts, weaker oil price this morning and possible weak chinesse trade balance at 8am should weigh on the AUD
Short AUDUSD is in my top 3 FX Trades for several reasons:
1. AUD is considered a riskier G10 currency cross, so AUD trades weaker in risk-off markets, or when equities/ SPX trade lower (you can see the high correlation with SPX at the bottom of the graph).
- With Brexit concurring last week, global risk has increased, this is especially the case for AUD due to...
The employment data coming from Australia was a bit of a non event but we expect the FOMC minutes and the recent dovish action from the RBA to keep pressure on this currency pair. Join me for the candle stick webinar on Sunday evening FREE webinar.getresponse.com
Fundamentals: - The Australian economy has continued to show strength certainly more so than its counter country New Zealand. Although the commodity prices figure has shown growth in the past year we are still in negative growth. The Caixin Manufacturing PMI in China came out better than expected but the high wage growth shown in the NFP on Friday should dampen...
With the BoJ keeping their QQE program on hold and safe haven flows through the JPY at the moment due to the global unrest caused by China I would expect to see the JPY continue to strengthen. The AUD being hit by weak Oil and a poor retail sales figure we should see further downside in this currency pair. Trade like a pro boafx.com
