Currently price is hovering below my daily .382 fib level but above my daily pivot level.
Hoping for a break . retest, continuation of that fib level for a signal to buy.
Price is also well above both 50 and 200 SMA, which shows a strong bullish trend.
This adds more confluence to this trade idea.
Price has rejected my daily trend-line and is now approaching my weekly and daily pivot level.
Fundamentally AUD is bullish
NZD rate decision at 10pm later on tonight. A cut in interest rates will further support this trade.
Price is currently hovering above my daily 38.2% fib level. I will be hoping for a close above this level for a good opportunity to long this pair.
If not then price could drop to my daily pivot ultimately giving me a better price to long this pair.
AUD cash rate and Rate statement that was released yesterday caused AUD to rally. Giving this pair a bullish...
Price has rejected my daily trendline and is hovering below my daily R1 level
If price pulls back to 0.94479 which is also a weekly pivot level during the London session. I will be looking for an opportunity to short this pair.
AUD GDP q/q was released at 2:30am and beat the estimate, which set bullish tone for AUD
Price rejected my weekly 23.6% fib level for pretty much the whole day and is now closing below my daily pivot level
AUD GDP release in 15mins. Will hopefully produce a negative figure, which supports my trade.
Currently price is hovering below my 23.6 daily fib level and trendline.
Waiting for a close below daily pivot at around 161.639 for a signal to short this pair.
GBP Gross Domestic Product (GDP) YoY was release earlier today and return a negative result: 2.0% vs 2.1% forecast.
which is the first negative release since January. This further supports by short bias.
US crude oil inventories data which was released yesterday fell to -4.2M barrels which caused oil to rally up to $49.6/bbl and break my resistance at $49.1 and my daily pivot.
I anticipate either a drop back down to that daily pivot level or the resistance turned support for an opportunity to long all the way up to $60/bbl.
Price is currently testing my 0.618 fib level which has been placed on the daily chart.
If price manages to break this level (which i think it would), I anticipate a rejection of my weekly pivot which would provide a second entry should price go back down to 48.47.
Fundamentally my bias on this pair is bullish all the way.
I dont really use ichimoku but it adds alot of confluence especially on JPY related pairs.
Currently price on the daily chart is just below the kumo cloud and slightly above a pivot level.
A close below both on the daily will provide a great short opportunity.
Even thought the GBP news release at 12pm (UK) caused GBP to rally I expect a retracement to take...