Price closed past the resistance trendily which has been tested 4 times previously and above the resistance level at 0.75742. I think the price will reach around 0.7600 before continuing its fall.
This was a little rushed.
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Week commencing 27/03/2017
Traders Dynamic Index
H1 Potentially moving north out of oversold
Looks Bearish overall but the H1 TDI suggests possible recovery but .7670 will need to be taken out.
Look to SELL this pair down to .7500 where support may be found.
big risstance right here on 1D chart downtrend confirmed by indicators more so in 4h but reverent in 1D.
setting my stop around 0.77160 ( maybe slightly higher ) just above major resistance
i believe it will return to the bottom of the long term trend channel (green line) but going to adding/removing positions at each support/resistance depending on market...
as you can see on the chart above, on this pair we're retesting a key structure level. In doing so, price has created a nice engulfing candle bigger than all the previous ones. This, together with the RSI Divergence (that you can see on the bottom) makes me think this could be the reversal beginning.
Stops owuld go above the highs, target1 at the retest...
Price has risen to test a very strong area of resistance.
On the Daily chart a breakout looks imminent, but I favour a move to the short-side
There is great RR, esp if price tags the 0.77406 highs
I will wait for a bearish daily close at these prices before looking to short
There is not much indicator-based support to this idea, hence my cautious approach.
Price bounced to retest previous support which seems to be acting as resistance
Following NFP, the Dollar appears to showing some weakness despite a positive number
Intraday, I will be looking for short opportunities with targets are previous lows.
just wanted to share with you this analysis i've made on AUDUSD. All this starts from higher timeframe, if you take a look at the daily chart, you'll understand that price is at a decision level. The yellow box actually represents the daily structure zone that price is testing.
So the first thing i want to see is that price is at a structure point, then i...