Obvious reasons why I'm short here... Fibonacci confluences, market structure, fundamentals for both countries at the moment, descending channel.
Just waiting for that retracement to get involved.
CHART ID: 10003
Back testing that key area now, Where will we go from here, Break or Bounce? Will be checking the lower timeframes to confirm any moves. Daily candle close has shown failure to break that level and rejected it at the moment.
All the majors entered their consolidation ranges today ahead of the NFP report except AUD/USD.
In spite of the fact the dollar is not in its best shape, AUD/USD is inching south. The Aussie has been under pressure ever since the Asian session, when Australia published the retail sales report with highly disappointing results.
Sales fell 0.6% to 2.1% m/m. Here we...
Aussie moves in trend a lot of the time. It moves between solid support & resistance levels. The price currently as of 22/09/17 is half way between a support and resistance zone. It has hit resistance and now on its way down to support. 1:2 risk reward. Heavy USD news on Tuesday and Wednesday could affect the pair.
- rsi approaching over bought
- daily rsi is showing bearish divergence
- price has already bounced of the weekly resistance level at 0.81000
- entry at .786 fib
- T1, T2 and T3 at .382, .618 and 1 fibs
- I expect atleast T1 to be hit as price deviated from 20 ema on 4hr chart
Long AUDUSD, we are bullish commodities and hence by default are bullish commodity currencies. The AUDUSD recently made a new high confirming the bullish sequence. The pair may not make it to our buying area as an improtant trend line lies in the way however the trade does meet all of our criteria and would be a near classic plummer wave pullback.
Following the pattern match, there seems to be some increased selling pressure in the upcoming candles on this 30 minute chart. Great pattern ratios, and some selling pressure, might be a time to go short for a few pips.
The moves of AUDUSD this morning are indicative. The Reserve Bank of Australia monetary meeting confirmed the regulator is not happy with the recent sharp rise of AUD. Moreover, the central bank claimed rising aussie would lead to slower economic growth.
However, the pair tried to move higher on the comments touching 0.7958 this morning. The market expected from...
Chart pretty much speaks for itself. Price is still stuck in this ascending channel making higher highs and higher lows. A break of this counter trend line could bring some buys back into play as I can see it continue to make another higher high.
The picture in the NZDAUD 0.03% looks interesting and you should pack this currency pair on the watchlist.
Currently, NZDAUD is 0.03% in a 90 pips wide support area and after the rather strong down movements, you may speculate on a counter-movement. If the support zone breaks down sustainably and even a weekly close price is below 0.9050, the path is free until...
AUDUSD has gained 150 pips during a couple of days. But what war the trigger, and is it really the start of a new rally?
It’s always worth watching the market sentiment, and its reaction to economic events. If an indicator came out above expectations, and the currency was not able to show a strong appreciation, it’s the sign of a looming retreat. Today we saw...
GBPAUD seems to be bouncing off a weekly trendline and a support level which could potentially send this pair up towards the upper targets.
Positive data from the UK report today (16/08/17) has potential to close in more buyers causing GBP to go up, however we must watch the AUD news release tonight at 02:30am London time (17/08/17)
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