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.
Linked to my previous post the pair failed to break the ascending trendline
It however has broke and retested the decending trendline, expecting new highs will update as things change
+ MA's showing bullish price momentum
The market has created a new higher high and bounced off from 0.75377 area. The last trading shows Aussie strength which formed a bullish engulfing pattern indicating a strong bullish continuation pattern. The market may retest the recent high at 0.7618 area.
I'm too inpatient to do write ups like this for all my posts. Just trust there's more in my analysis than the simple charts I post on here :)
AUDUSD appears to have turned earlier than expected, it is the best performing currency of the month and despite the problems with a credit downgrade for its banks it appears to be gaining momentum again. Commodities...
Australian dollar has gained a lot over the pasy days, you can see this from the chart above and you can also see that lately price has been ranging in a very tiny space. When you see impulsive move like this you would expect price not to retrace so much because of the strength disequilibrium. And that is what i think could happen next here: flags,...
AUD/USD – price since the beginning of June is growing in a very dynamic bullish trend. This is clearly visible on H4 chart. We can see here also a correction to earlier highs and setting a sizeable bullish pin bar. On the technical side, this is a clear sign of a continuation of the upward trend. So consider long position..
AUD/USD – since the beginning of June demand is in power, leading to extremely dynamic growth. Currently a bullish pin bar is created after few hours of flat correction . Price setting new high confirms a strong upward trend. So it’s time to consider long position.
Friday saw AUD/NZD bounce off a well-defined support/resistance area but doubts remain whether this pair is headed higher or lower.
The Daily and H4 TDI levels suggest we're going lower but H4 is moderately BULLISH.
If the support level at 1.0761 holds then look to go LONG.
If this level breaks then SELL this pair down to 1.0560 area.