Currently we are resting under a moderate pivot resistance point (.7270). If we can close out above this pivot we may see continued consolidation between this point and .7300 until a break out.
I personally am only looking for an intraday trade however my sentiment is low but here is my analysis none the less.
If we can get a MACD signal line cross up through 0 line on 2 hr chart to trigger the buy super trend line I may look for an entry.
MACD and signal on 1 hr chart have crossed up through 0 line as well as the 3 hr chart. Ill only be looking at the 4 hr chart pending the MACD and signal on the 2 and 3 hr chart cross up through the 0 line. If we get this far we can begin too look for a further push.
Based on inflation talk, gold will be up as it is extremely valuable in time of demand. We know that when gold is up the dollar is down as well as its positive effect on AUD.
Furthermore, we cannot forget about the pandemic. l Australia has had less than 100 new cases in at least the last 2-3 weeks, and the US has the most confirmed cases with the highest percentage of new cases. Australia is opening up borders and lifting regulations. This will help the economy drastically as spending and return will be increased. The US is seeing the opposite scenario. A huge influx of new cases have forced schools to go back to complete virtual, local governments have in-forced curfew’s, and more local business who were able to bounce back from the stimulus are now back in a hole as business continues to fall. I live in Massachusetts and am experiencing all of this. Curfew, school closing, business closing back up, etc.
So given the sentiment one would think that AUD would surge over the dollar. We shall see.
I personally am only looking for an intraday trade however my sentiment is low but here is my analysis none the less.
If we can get a MACD signal line cross up through 0 line on 2 hr chart to trigger the buy super trend line I may look for an entry.
MACD and signal on 1 hr chart have crossed up through 0 line as well as the 3 hr chart. Ill only be looking at the 4 hr chart pending the MACD and signal on the 2 and 3 hr chart cross up through the 0 line. If we get this far we can begin too look for a further push.
Based on inflation talk, gold will be up as it is extremely valuable in time of demand. We know that when gold is up the dollar is down as well as its positive effect on AUD.
Furthermore, we cannot forget about the pandemic. l Australia has had less than 100 new cases in at least the last 2-3 weeks, and the US has the most confirmed cases with the highest percentage of new cases. Australia is opening up borders and lifting regulations. This will help the economy drastically as spending and return will be increased. The US is seeing the opposite scenario. A huge influx of new cases have forced schools to go back to complete virtual, local governments have in-forced curfew’s, and more local business who were able to bounce back from the stimulus are now back in a hole as business continues to fall. I live in Massachusetts and am experiencing all of this. Curfew, school closing, business closing back up, etc.
So given the sentiment one would think that AUD would surge over the dollar. We shall see.
Trade active:
Buy trade active
Trade closed: target reached:
TP 1 at .73350 (strong pivot point). Retest is playing out strong.