AUD has been stuck in a range for a while,
I'm looking for a retest of the median line, as it zoomed past it.
It is currently testing the bottom median line, where I entered.
Great Risk/Reward Ratio, Only problem is Ranges are Tricky!
Let's see how it plays out. Trade at own risk.
I feel the Aussie is stalling a bit and needs more energy to continue it's up trend, and seeing there is no major fundamentals until Wednesday.
I'm going short at 0.9355 until the green area and then will take profit and go long.
Let's see how this plays out.
I feel aussie needs a bit of rest before a leg higher, and seeing we approaching a timezone where 3 very important lines meet up, I feel this will be a magnet to drag the aussie down to build up energy and slingshot it higher.
UPDATE ** TARGET REACHED
With every body Long the path of least resistance is right through them.
Break out sell-orders on the bottom & Stop loss orders for the people who bought at the previous few lows. Should create enough energy to reach my profit target.
I'm looking for a take profit of twice the distance of the energy coil.
We broke out of the first sliding parallel which is now becoming support.
Looking for AUD Retail Sales tonight too help break past second parallel.
From there a push up towards the Median Line.
Stop Loss - Break out of Fork.
Target - Median Line / First Sliding Parallel
** PLEASE TRADE AT OWN RISK
We broke the weekly low, and price action suggests a retraction.
ADP Numbers on wed suggest strong Jobs number on friday
AUD Bulls seems exhausted
And large options at 0.9150 today.
So let AUD/USD work its way down so long.
I'm going short here, got in a bit late.
Fundamentally NZD stronger then AUD
And there are huge option expires at 1.0500 so just looking for a strong move down until 10:0am EASTERN and take profits.
AUDNZD 1.0500 (AUD 1 bln)
source of ...
This is a technical set-up. We close to our yearly lows, and on a nice Trendline.
I feel the EURO has depreciated more then the GBP in the last week.
And we have more potential for a stronger euro.
Follow the Trend!
Two entry targets
1.) 4h200sma & .50 fib provides strong support
2.) Multi-Year low rising trendline & 0.618
Exit if you have a DAILY CLOSE below 1.3650
This would be a nice position to just hold long-term past 1.40 and/or policy changes in ECB and FED