On the weekly timeframe, we've seen 5 downside wicks as orders have been filled at the 0.7350 support region. This week forms the 6th rejection of this and price already appears to be pulling back from here. Overall we have a weekly downtrend which lines up the downside Fibonacci retracement region with 0.7500.
Price moved largely bullish yesterday breaking back...
Fundamentals:- The US had its Non Farm Payrole on Friday and although the unemployment rate dropped to 3.9% average hourly earnings had also dropped. The NFP figures showed jobs created at 164K when the market was expecting 190K. So mixed data but in all we are expecting a bit of a pull back from the Dollar strength last week. In Australia the economy has been...
After a great trade shorting from 0.8100 all the way down to 0.7500 we have hit an area of support so time to look for another opportunity, dollar strength will continue maybe but that's to be taken with a pinch of salt. This is just my thought process lol you must do your own analysis. thanks
A simple candle formation here, Aussie pushed out of the wedge during the Asian session and has maintained a strong upside movement through the remainder of today. I will be taking this pair up to the previous high of 0.77657. A buy order outside of the wedge would have entered you into the trade whilst you slept and now into deep profit. Simple simple simple chart work.
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...