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.
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
Not quite sure if we should call this a wedge or a channel, but AUDUSD has a long term pattern here and it is moving towards the support line. If the support line breaks then the move could continue to 0.7
Huge upside momentum however we look for the break to the upside at the weekly mid level up to the fib 50 level (red line) and then we anticipate a massive fall to the downside with good risk reward.
we will be patient until there is confirmation of a failed attempt on the weekly mid or the reversal around the upward channel boundary / fib 50
Monthly: In a large expanding wedge formation that has eventual bias to break lower.
Weekly: in a corrective channel formation. Rallies close to 0.8100 find sellers. Could also be seen as an Ending Wedge. Higher highs seen at 0.8205
Daily: Possible ‘double top’. The most important factor in this timeframe is bespoke resistance at 0.8100
this is what i'm looking at today. AUDUSD (and also NZDUSD) is facing a strong resistance zone on the daily and weekly chart. Price is showing RSI divergence on the daily timeframe and also an overbought condition on the weekly. With the right confirmation on the lower timeframes, this could be a nice trading opportunity. Keep you updated!
If u have...
Looking at commodities which support AUDUSD, they look overbought. Adding to that the DXY situation, the USD looks supportive of potential strength. Sell AUD with good take profits at previous lows. Take profits could change depending on circumstances.
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...
Quick short here on AUDUSD DAILY, price has broken the CTL and also the range highlighted in blue. D1 target ideally at 0.7550 however prices could most likely test 0.75 as a continuation of the recent bearish pressure.