AUDUSD has been travelling in a horizontal channel for quite some time now. we recently saw price plummet to the bottom of the channel, however we have now seen price climb up and also break a descending trendline to the upside, our final target for this long trade is the top of the channel as shown on the chart above.
enjoy your profits on this trade !!!!
Price is respecting a lovely trend line TL, and price isn't far away from key support but with the current weakness with AUD we are expecting price to push its way through this strong support and although the USD isn't that strong at the moment we feel it is still too strong for AUD.
So if we get a break of support then SHORT the hell out of it as it could drop a...
Good Morning Traders
Looking on the 60 minute timeframe, price has recently retraced in a 3-wave pattern from the recent high (0.714) into the 61.8% retracement. Adding to the set of confluences is the RSI indicator which currently nears overbought territory. Where price currently sits at is a perfect level to enter for a sell, providing an adequate risk/reward of...
AUDUSD has been travelling in a slight ascending channel, shown more on this idea
Price broke out of the channel to the downside, we have literally just seen a retracement back up to retest the channel and now we could make some moves down...
AUDUSD Price has been travelling in a triangle as shown above, however we have just seen a breakout to the downside. Price has already made its way back up to retest the triangle and now we are expecting some short opportunites.
HOWEVER
Price has also been travelling in a horizontal channel and price ATM is in the rather large support zone of this channel,...
Fundamentals:- The RBA will be making there rate announcement next week which is not expected to change. There is concern over the levels of consumer debt at the moment and lagging GDP. I expect the AUD to weaken against the stronger USD next week especially after the stela NON Farm Payrole figures on Friday.
Technicals:- There is an nice area of confluence...
Fundamentals:- Although the economy has been improving lately, employment is a concern for the RBA and we are due those figures out this week. Another rate hike is looming from the USD and the deviance of the last NFP shows that the markets are still willing to invest heavily into the the dollar. With the RBA rate statement shedding more light on the Australian...
AudUsd - Daily chart - I see a good oppurtunity to sell all major pairs against the dollar. Audusd here is at the perfect zone to sell for a minimum of 150 pips target to the downside.
When markets open this evening I will be looking at shorting the Aussie Dollar down to the daily trendline, as this has been respected a few times in the past couple of weeks, this will most likely be an intra-day swing trade to get in and get out. Only because of RBA releasing minutes on Tuesday followed by a speech from Yellen later that day, could make some...
Hey guys,
here comes a structure trade: as you can see the last downward impulse has broken the previous support, this specific level becomes the first candidate to become new resistance (this it the key principle for structure traders). At this level happen to be also some confluences like a 618 retracement, a psychological number (1,46) and the divergence down...
Hi guys,
as you can see on the chart above, on this pair we're retesting a key structure level. In doing so, price has created a nice engulfing candle bigger than all the previous ones. This, together with the RSI Divergence (that you can see on the bottom) makes me think this could be the reversal beginning.
Stops owuld go above the highs, target1 at the retest...
Hi guys,
i want to share with you a nice setup that i'm gonna pay attention to over the next days. As you may know, 2618 is a strategy that consists on selling/buying the 618 retracement of the leg that breaks the double top/bottom's neckline.
In this case, we can also see that it happens to be right on the previous support (that should act as resistance once is...
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