AUDUSD - Intraday - We look to Buy at 0.6745 (stop at 0.6715)
Posted Mixed Daily results for the last 7 days. RSI (relative strength indicator) is flat and reading close to 50 (mid-point) highlighting the fact that we are non- trending. Trading between support at 0.6745 and resistance at 0.6821. Preferred trade is to buy on dips. Price action is forming a bullish...
AUDUSD - Intraday - We look to Buy at 0.6880 (stop at 0.6850)
7 negative daily performances in succession. Prices have reacted from the 423.6% Fibonacci extension level. Buying posted in Asia. Posted a Bullish Outside candle on the 4 hour chart. There is scope for mild selling at the open but losses should be...
I hope you had a great week of trading this week. Below I have an interesting setup for this AUDUSD pair. As you can see the price action has created a nice ascending channel withing a descending channel on the 4h chart and is respecting the trend line on each occasion. The price has pushed right down to the trend line, touched and bounced. I'm...
AUDUSD - Intraday - We look to Buy at 0.6962 (stop at 0.6922)
The gap open from 0.7022 to 0.7026 has now been closed. Selling posted in Asia. Daily/Weekly Ichimoku Cloud resistance is seen at 0.7035. Bespoke support is located at 0.6962. The medium term bias remains bullish. A bullish reverse Head and Shoulders...
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...
We can see a lovely trend line that has been respected for months, but we can also see a strong Monthly/Weekly support zone that price is currently at.
We are expecting this Trend line to break, we could see a retest of our support zone before this trend line breaks but we reserve this information for our VIP clients.
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.
Price has been ranging in a 70 pips zone for the past 2 weeks, what we have got to keep an eye on is a break out of this zone, if price breaks resistance then a nice bullish run could happen, and if price comes down and breaks support then a lovely bearish run could develop.
At the moment we are leaning towards price respecting this resistance and making a 70 pip...
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.