The AUD price is reflecting the contraction in the Asian economies as a result of Coronavirus.
Price respected the 20MA eventually breaking the consolidation region we highlighted.
Price remains oversold so any pullbacks will be an opportunity to short into. The biggest opportunity to short will be at the 66757 level.
Trades too the upside should...
The AUD has been offered these past weeks because of the impact of the noravirus on the Chinese economy.
The pair has found some support in this region and seems to be forming a wedge to the down side. We boxed off area where a range is likely to form.
Range plays should be taken to the short side, as a long play runs the risk of the bearish...
The AUDUSD has been choppy this past month, however we have seen that the forecast for the head and shoulders has played out.
The uncertainty comes from the back and fourth between China and the US, and the news of the Noravirus was very bearish . If fundamental news is bad for China then it will be bad for the AUD.
Technically speaking we are...
The AUDUSD asset was mainly controlled by dollar flows and tensions between US-China last week with further clarification on the deal.
This week I am using the Tom Demark's pivot indicator to determine a trend. It is showing we are bearish on the break of S1. And the stochastic seems like it is in a continuation to the downside.
The 68500 level is...
This week we saw price break through the key 69000 level and pullback into it strongly. Price formed a higher low from the previous swing coming in at 68380.
At these levels, we need to wait for further bearish price to come in to break the 68380 level. The break of the lows will be the opportunity to short.
Price is bullish above the 69640 level,...
The AUDUSD found some clean moves this week resembling a bullish trend forming. Price found rejection about the 200MA and the 69300 handle. This is due to the dollar pressure on good progress on the US-China deal.
Any good trade news is bullish for the AUD and the stochastic is showing a bullish cross too. If we can stay above 68750 we have a case to...
The lack of major developments surrounding the US-China trade conflict and the subdued trading action didn't allow the pair to make a decisive move in either direction following that drop, forcing it to move sideways near mid-0.67s. However a positive reports Australian Bureau of Statistics forecast today can attract buyers. FOMC members Barkin and Daly will speak later.
I previously marked up a bullish opportunity and i have attached the analysis below. Since then, price traded higher and has retraced into what i would see as a flat correction. From this point on, price has the potential to move bearish toward our take profit at 0.70752
The stop loss has been placed at 0.69010 creating an opportunity with a 1:2 risk to reward...
AUDUSD was travelling following a descending trendline. It broke out above the trend line, came back to retest before making a higher high. This is all confirmation for a long opportunity. A further confirmation is the horizontal resistance zone marked out in a red rectangle that was just broken out of to the upside and retested before going back up.
AUDUSD has been travelling in a descending channel, however it has broken out to the upside. Another few confirmations of a long trade was the Higher High made and the major support zone price just tested and bounced from which caused it to breakout of the channel. Price will now come down to retest the channel, and then make its way up to 0.70100 region.
AUDUSD has broken a major level of support and has already come back up to retest it, however before we think about short trade opportunities price must make a candle close below the yellow rectangle, once we do we will be entering short trades. Price may make a fake out, that's why we are waiting for the candle close below, price may still move upwards, break the...
AUDUSD was following a descending trendline marked out in the thick black line, we recently broke above this trend line and at the same time broke above a major resistannce zone. Price has come back down to retest the channel and the newly made support zone, now price is going to make its way up to the next resistance zone.