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...
AUD/USD has been on a downtrend channel making lower highs and lows. Price tested the trendline thrice recently and heavily rejected with the bears still in control of the trendline. The market rejected the last break with a long bearish engulfing and test. AUD/USD is currently rubbing shoulders with the 200 EMA which is somewhat acting as a support for the pair...
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.
Price has also been travelling in a horizontal channel and price ATM is in the rather large support zone of this channel,...
short AUDUSD on head shoulder pattern forming in descending channel- graph self explanatory
recent positive news on US/China trade deal in the past few days failed to retest previous head high so looking for a descent lower
AUDUSD retesting on the 0.71000 psychological before indicating further movement downwards.
Resistance at the 0.382% daily fibonacci retracement level.
Trading below the 50, 200 & EMAs.
Ideal entry would be at 0.71000 psychological level .
Swing trades targeting for the 0.70000 psychological level with potential intraday trades targeting the 0.70700 & 0.70600...
What a great opportunity for shorting, right at the beginning of a trend .With a double top, macd squeeze, under ema, mtf are all confirming red (short) and higher timeframe daily strong down trend. Hope you found this helpful please comment if you have any input. Risk management is the key to success
Looking for AU to pull back and trigger the buy limit. If the price does not break previous days low we can see the pair rally to the highlighted resistance. Once price has tested the resistance wait for a reversal candle to enter short trade.