AUDUSD could potentially have a downtrend as long as prices trading below the 0.7165 in the daily or 4hr timeframes.
Potential targets are either the 50% or 61.8% fibonacci retracement levels.
However a close above 0.7165 will cancel out this potential downtrend analysis.
Do double confirm with your own trade setups.
Happy trading =)
Out with another range trade on US dollar being oversold- this time Aussie Dollar sell versus US dollar on a combination of techincal indicators and chart work. On our chart if you zoom out slightly you can see the long term descending trendlines in purple which is being respected yet again with volumes slowing as we head to the top of the...
ANOTHER TRADE WITH MULTIPLE TIMEFRAME CONFLUENCE!! (VERY SIMILAR TO THE NZD PAIR) #TOPDOWNANALYSIS
The weekly timeframe indicates a downtrend. Anticipation of a further Bearish Indication could also enable a long-term SELL opportunity.
•1W - Current Market has reached the top of the weekly Trendline . The closed candle demonstrated suggests that a rejection...
For quite some time AUDUSD has been travelling in a horizontal channel. It has been bouncing up and down in between the zones marked out above. Price has started making some higher highs, meaning that we could be seeing a rally to the top of the channel. We expect price to come backdown to test the black trend line marked out above before making it's rally up.
Divergence forming on the trend line touch in the near future by RSI, this touch will be in line with 50% fib retracement and you should look for candlestick formations for a buy at this location with stoploss on 61.8 and target at 0.00 fib which will be the next resistance. This is a good risk reward of 1:3
Hi Traders , This will be my first post on Tradingview the aim is to showcase how accurate waves can be and help you guys learn.
- AUDUSD WXYXZ Correction looks to be forming
- the 61.8 / 50% fib levels is where we will look for longs
- Trade safe , feel free to message me as i have a paid telegram , or find me on instagram @jratrada
- AUDUSD Looks great plenty...
Good morning traders,
Today we are starting with a look at Aussie dollar and US dollar.
After positive Chinese growth data came out overnight- GDP and industrial production both beating estimates- Aussie dollar spiked up to the 0.72 area where it has previously found strong resistance both from the psychological aspect of a round number and this area coinciding...
Following the breakout this morning from the lower triangle trendline AUDUSD is now heading back up to re-test this area. Should this trenline now offer resistance as is often the case in this scenario we could be looking a swift move lower. We will need see at least one long upper shadow candle or maybe a doji as prices reject the trendline before initiating a...