Hey Traders, in the coming week we are monitoring AUDUSD for a selling opportunity around 0.66100 zone, AUDUSD was trading in an uptrend and successfully managed to break it out. currently AUDUSD is in a correction phase in which it is approaching the retrace area at 0.66100 support and resistance zone. Trade safe, Joe.
-SL @ 0.9945 🚫 SLO @ 0.9866 ⏳ TP4 @ 0.9800 (closing ALL Buy Orders) TP3 @ 0.9625 (shaving 25%) TP2 @ 0.9340 (shaving 25%) TP1 @ 0.9150 (shaving 25%) BSO @ 0.8890 ⏳ -SL @ 0.8800 🚫
AUDUSD - Intraday Posted a Bullish Hammer Bottom on the 4-hour chart. A higher correction is expected. Short-term bias has turned negative. We, therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower. Further downside is expected although we prefer to sell into rallies close to the 0.6575 level. We look to Sell at...
Another up move completes the pattern within the up channel. I have plotted a horizontal line that i think price will easily test again. This is a good spot to exit.
EURAUD - Intraday - We look to Buy at 1.6350 (stop at 1.6300) Previous support located at 1.6400. Previous resistance located at 1.6425. Broken out of the triangle formation to the upside. Further upside is expected. Risk/Reward would be poor to call a buy from current levels. A move through 1.6425 will confirm the bullish momentum. Our profit targets...
AUDUSD is on a strong 2 day sell streak below both the 1D MA50 and 1D MA200 but is approaching the bottom/ LL trendline of the six month Channel Down. The 1D time frame is technically bearish (RSI = 36.760, MACD = -0.003, ADX = 28.005) and the closer the 1D RSi gets to being oversold (30.000) the stronger the buy signal on the long term becomes. As long as the 1D...
Wait price rich to buy zone and open LONG position on AUD/JPY pair
AUDUSD - 24h expiry We are trading at oversold extremes. Price action looks to be forming a bottom. Indecisive price action has resulted in sideways congestion on the intraday chart. This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher. Previous support located at 0.6574. We look to Buy...
EURAUD - 24h expiry - We look to Sell at 1.6325 (stop at 1.6375) Previous support located at 1.6250. Previous resistance located at 1.6300. Price action has continued to range within a triangle formation. Further downside is expected. Risk/Reward would be poor to call a sell from current levels. Our profit targets will be 1.6205 and 1.6185 Resistance:...
Hey Traders, in today's trading session we are monitoring AUDUSD for a selling opportunity around 0.66600 zone, AUDUSD is trading in a downtrend and currently in a correction phase in which it is approaching the major trend at 0.666 support and resistance. Trade safe, Joe.
Fundamental Backdrop The Wage Price Index q/q maintained at 0.8% which shows that the economy has not improved. Employment Change suffered significantly, dropping from 61.1k to -4.3k, which shows that consumer spending has been greatly reduced. Unemployment Rate also increased from 3.5% to 3.7%, showing that overall economic health has detoriated. ...
I posted about AUDJPY before and I’m a show in this chart because it has been performing expected. Currently it seems that it is having a retracement and may try to break above the resistance level/ double top that it created. However, it is not clear that it will keep the clean structure that he has right now. Manage risk is a top priority I will keep updating....
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Hey Traders, in today's trading session we are monitoring AUDCAD for a selling opportunity around 0.89900 zone, AUDCAD is trading in a downtrend and currently is in a correction phase in which it is approaching the major trend at 0.89900 resistance zone, i would also keep an eye on the stock market to confirm the bias as AUDCAD does correlate positively with...
Hey Traders, in today's trading session we are monitoring AUDUSD for a selling opportunity around 0.66400 zone, in above chart we have a breakout of AUDUSD trend below 0.66400 support and resistance area, currently we will be watching a potential retrace of the trend towards more lows. Trade safe, Joe.
Commodity Currencies Still Vulnerable Danske expects that tighter financial conditions and vulnerability in the global economy will tend to undermine commodity currencies. As far as the Australian dollar is concerned it adds; “With the global growth backdrop remaining weak, recovery in Chinese manufacturing losing steam and metal prices declining, the outlook...
Hey Traders, in today's trading session we are monitoring GBPAUD for a buying opportunity around 1.87200 zone, GBPAUD is trading in an uptrend and currently in a correction phase in which it is approaching the uptrend at 1.87200 support and resistance zone. Trade safe, Joe.