Summary: The US dollar continues to meander back and forth on the rise and fall in stimulus hopes, with a new timeline early this week for the prospects of a deal after a House Speaker Pelosi ultimatum. Our focus this week elsewhere is on AUD after the sell-off last week on indications that the RBA is readying a proper QE programme, and on GBP as the market...
FX Update: USD breaks support but do bears want to press their case pre-election?
Summary: The US dollar closed last week below important support levels as investors position for a large US stimulus deal and wax positive on a Biden presidency as odds continue to tilt his way in the latest polls, easing fears of a contested election. Elsewhere, China initiated a...
After a sequence of patterns formed between the weekly fractals, forged at 0.74138 as resistance, and at 0.70061 as support, Aussie is now approaching the monthly resistance formed December 31 at 0.70320.
Depending on your strategy if you took this trade you could of banked +75 PIPS from TP1 + 2 or still be holding your trade and running at circa 3.5% gain based off 1% account risk.
OUR STRATEGY EXPLAINED:
The entry price, SL and multiple TPs are shown on the chart.
Our back testing and money management strategy itself is holding until a reverse signal to ride...
. There is still a possibility of temporary retracement to suggested resistance line (0.7195). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. AUDUSD is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a...
Welcome traders to a free analysis breakdown.
Today I am highlighting possible trade ares on AUDUSD, if you any questions on the pair let me know in the comment section below.
Once the pair gives us a valid trade entry I will be sharing the trade with the Alpha community, I hope you all found this breakdown helpful .
If you liked this free educational please...
In this ascending channel pattern, the price has recently reached a previous supply level at 0.7265.
I will be looking for a rejection of the supply zone at this level before taking a long position. I will identify confirmation of rejection at the supply level by a closed 4H bullish candlestick, and a cross over of the MACD and RVGI, which can already be seen to...
The Aussie is in a clear downtrend here on the daily with the AUD having a mini resurgence thanks to the strong support at the key psychological 0.70000 level creating a nice Double Bottom!
May not be a trade that gets taken this week as more a long term view but buys are only taken with a break of the channel and a push above the key 61.8% level to retest the...
1.watched the market create minor support with no indications of sellers
2. took buys at the close of the candle
3. SL at the bottom of the candle
5. TP at the previous resistance
1.Close one trade at 10 pips and leave a runner.
2.Move SL to 50% and leave runner.