Aud/Usd - Daily chart - I see a strong demand zone below current price for aussie dollar and I've taken a buy trade around 0.77 with stops below 0.7650 and targets of 150-200 pips. This correlates well with dollar weakness and other major fx pairs in buy levels.
After the Rate Hike from the FOMC to 1.625 was priced into the market the AUD/USD broke out of its channel to the upside. As I said in the previous trade idea for the AUD the economy is improving after its transaction from the mining sector and I expect it to remain buoyant going through 2018. I will be keeping an eye on wage growth and jobs...
This is an optimistic one to be fair. However it is safe to assume that the current move is due a B-C retracement soon. If I get one to the marked zone then I would expect a long term C-D buy and hold to play out. Market structure on higher timeframes is very bullish. This is made obvious by previous swing highs being surpassed steadily. One to stalk.
From 13/01/2016, between each two major swing lows, there have been following intervals
1. 93 bars
2. 153 bars
3. 97 bars
The fifth circle has already started with the first swing low on 08/12/2017.
Assuming the above is replicating, the next swing low will be between 18/04/2(93 bars) and 22/04/2018 (97 bars) and a possible swing High around...
Fundamentals:- There was good data from Australia today even though the RBA (Royal Bank of Australia) did not raise interest rates the rhetoric was positive about wage growth and inflation. Retail sales rose to 0.5% above the expected 0.3% giving a boost to AUD.
Technicals:- After some morning long positions traders have taken profits allowing the price to fall...
here we are, looking at AUDUSD and searching for a reversal pattern on lower timeframes. That's because this pair has reached a key structure level on the daily timeframe and that makes me believe we could see a rally off of that level. Of course, i want to have additional confirmation before entering a trade and here you can see a small period of...
This pair is pulling back super deep so be aware. If you want to get long on the previous engulfing I'd advise you use a Buy Stop, as there's still plenty room to get the 2:1 below the swing high. Either way, this is a valid buy setup and I'm in to the death.
this chart speaks for itself. On the daily we're at a cluster of daily structures and i think this could provide support to price action. But i want to see one of two things:
1- a break of structure on the lower timeframes
2- a retest of the lows and a strong reversal candlestick pattern
Otherwise, i'm not taking this one.
Keep you updated!
If you have...
as you can see on the left hand side of your screen we're up to a previous level of structure. And in doing so, price has formed a nice pinbar showing buying pressure. When i look at the 4 hr chart then, an engulfing pattern appears following a pinbar, and that gives me reasons to believe we could see a reversal at this point. With a little retracement,...
Looking for another attempt at a AUDUSD. Due to North Korea I anticipate a risk off environment on opening which should push the Aussie dollar lower but and then looking for a bounce off the recent trend line.
The AUDUSD is in a consolidated range at the moment with the top of that range being previous major support turned resistance. Looking for either a pullback and break or a straight break of the upper consolidation range for a long.