0.75814 not a round number i know but is not far off 0.759 so this level still hold strong promise for upside bullish moves, especially as this level also lines up with the 3rd touch of a strong trendline which as we know more times than not creates a strong bounce!
There is potential for a +200 pip move to the upside from the touch of the trendline, so this...
AUDUSD now broken a very big Daily trendline with momentum fading to the upside. Now we appear to have a Head & Shoulders pattern also forming with a clear rejection of the previous trendline now showing the path of least resistance should be down. I shall be awaiting a break of the neckline and a retest before entering a short position.
The bearish trend is trying to come to an end but we are failing to break above this minor resistance.
I am looking for a tap of the resistance again before we sell-off into a previous significant order block.
I took a nice trade on AU short later in the week for 10%. AUDUSD forecast for this week. PA is developing nicely. On the daily and lower time frames it is looking bearish . I don't think the cycle to the downside has finished just yet. I will be looking for continuation patterns to the downside. I will wait for PA to develop Monday and wait to see if there is...
This bearish trend is failing to push lower strongly. I would like to see the price stall in between these two levels marked before we get a significant push to the upside.
This trade will be a fade, the overall trend is down.
This is pretty much identical to AUD/CAD. It has retraced to support and is now holding in this area, if this can continue to stay above support and MACD and EMA's remain bullish then this can be longed to the TP of 0.80662.
TP level and above is a big resistance level
This has hit take profit on my previous posts for this pair. Now looking for a move that will give another chance the re-enter a long. Either this will continue to rise through resistance and then when it retraces and tests that level as support a long can be entered. Or it will retrace from the current price and offer a lower level to enter, although this is...
Since my last update on this pair it has broken out as I expected. It is now retracing to the neckline marked with the blue line, this would be another chance to long if you are not already longing this pair. My target on this is 0.80548 although if you are looking for a more short term trade then the previous top of 0.78203 is also a good TP to aim for.
This seems to have held at support and is now looking safe to go long on. EMA's are about to cross, MACD is still below 0 but looks like a strong upward movement is happening to take it back above. You could wait for a couple more candles to close for confirmation of this if cautious. TP is set at 0.80548 although there are higher peaks at this level. SL just...
Welcome traders to a free analysis breakdown.
Today I am highlighting possible trade ares on AUDUSD, if you any questions on the pair let me know in the comment section below.
Once the pair gives us a valid trade entry I will be sharing the trade with the Alpha community, I hope you all found this breakdown helpful .
If you liked this free educational please...