Expressing Our View
We expect the AUD to remain weak against the USD, supporting AUD/USD short positions. We believe that the RBA’s tightening cycle is over, supported by rising unemployment figures and moderating inflation. On the other hand, USD should continue to stand tall as Treasury yields climb and the “Higher for Longer” interest rate narrative gains...
AUD is a commodity currency. Australia’s resources rich economy is heavily influenced by commodity trade, particularly with China. When China sneezes, the AUD catches cold.
With the Reserve Bank of Australia (RBA)’s rate hiking cycle approaching an end plus China’s economic recovery remaining anaemic, the AUD is likely to weaken further in the short term.
This...
Indecision around 50% Ret: yields equality target either way. Long into single and double res. over hang. Or rollover short to retest swing low with general USD strength.
We can change the behavior of the Aussie has cleared liquidity and has retraced back into a potential buy zone. This is a counter trend trade but it's about time to see the Aussie gain a bit of strength based off current levels of bullish volume.
This is a combined chart using the Futures contract for the Aussie and the Yen
This expectation is a framework to look for a potential trading setup; I don't just execute based on these levels, I always wait for confirmations on lower timeframes
This Analysis was done using my complete Strategy which includes:
- Smart Money Concepts
- Multi Timeframe Liquidity and...
Potential pivot zone for AUD futures in a weekly FVG with shift in market structure to upside and retest of lows on CPI data. Looking for 50% retracement of the recent 1H down leg. Take profits at the 1H FVG ahead of the 50% level. This coincides with the E-mini retracing after shift in market structure to the downside.
Following a rebalance higher I believe that Australian dollar should expand lower. The level I'm looking at is a volume inefficiency located at 0.67565 below the most recent swing low.
I also believe 6C and 6N should head lower overnight.
-/6A recently tapped buyside liquidity but is slowing down in the latter part of the London session.
-There's a fair value gap below on the 2hr chart as well as an order block (I believe it's an order block).
-My current thinking is that now that price has delivered to the upside it should reprice down and then we'll see from there.
These trade ideas I learned from watching Linda Raschkes work, and playing with the concepts my self. I want to get better at spotting these set-ups in the wild as opposed to cherry picking them after the fact. If you are looking to learn more about the concepts I discuss in this video, I recommend you find Linda's youtube channel, and study her library of...
If there is enough interest in these callouts, I will further expand upon them by adding detailed instructions, stop losses and take profits.
Follow and comment if you want me to chart any specific tickers! Have a Great Day :)
Where I learned - C0tt0nC4ndyTA on YT
China re-opening, widening trade surplus, and a fragile USD to keep Australian Dollar bouncing higher ("AUD") in 2023.
The Dollar Index (“DXY”) is sinking through support levels even as the AUD rises past key resistance points. Amid solid tailwinds favoring AUD and formidable headwinds facing the USD, this case study argues for a long position in CME Micro...
Following up on the last, wave b may likely be formed with a 50% retracement to 0.7014 and where wave c approximately relates 0.618 to wave a . We can expect a 5-wave down on principle. Await the outcome .
Australian dollar has alot of upward momentum.
We are targeting 0.7290 as a target.
I dont usally do short trades, but i am testing my cycle system
to see if it can do shorter timeframe trades.
Will be intresting to watch.
Type: Bearish Drop
Resistance: 0.69610
Pivot: 0.68560
Support : 0.67920
Preferred Case: On the H4, with the price moving below the ichimoku cloud, we have a bearish bias that the price may drop from the pivot at 0.68560, which is in line with the swing low and 61.8% fibonacci retracement to the 1st support at 0.67920, where the 78.6% fibonacci retracement , 78.6%...
