Looks like temporary dip been created so market may want to looks for some stops to the upside.
I would like to join that journey by trying to buy dips down towards 1230 and below with tight stop under Friday low with 1,1280/1290 as first possible target
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.
Bulls got huge problem to take out 1,33 for good, sellers are very active and its not different this time
So retest of 3295/3305 as selling opps, possible target s visible on the chart, stop above 14 GL
Bulls trying to hold above 1,13 and thats positive development.
Daily close above may open 1,1450/1550 ( levels close to the top of the channel )
On the other hand daily close below 1,13 will cancel bullish scenario and may expose 1,12 ahead of psychological 1,10
Overall im still AUD bear but to be honest I do respect current PA and defense of 0,7
So, if I cant move the mkt will try to join ( and then will look to sell from higher lvls ;) )
This bullish scenario cancelation iwth close below 6980 which may expose 68
We have seen whole day profit taking last Friday and that does not look good from bears perspective.
Of course bulls need to close day above pre ECB breakdown ( in that case 1,10 still possible )
But Im not going to be surprise if we see higher levels from here, based on possible demand on weekly chart
As long as bulls are able to hold 1,8450 on daily basis we may see 1,90 and even 2,00 relatively quickly. I would like to buy pullback towards 1,8525/8475 with 1,90 as first target.
Two conscutive daily close below 8450 will cancel this bullish scenario.
As promised few minutes ago more details about possible short:
Looking to sell rallies twds 3070/85 with tight stop above figure 2 possible targets on the chart
Juncker vs May meeting today at 17:30 GMT
Based on daily chart we are testing first possible supply level/zone and there is some reaction ( hence not big yet )
Im going to sell intrtaday rallies twds 70ish and more details on intraday chart within few minutes
Juncker May meeting today 17:30 GMT
Bulls do have a problem to move back above 1315 but still holding above 1300. If we see stronger dollar in coming days 1300 might be broken. In that case ( only in that case ! ) I will look to sell retest of 1315 with target around 1260/1240.