AUDJPY is Bullish - We look to Buy at 74.32
▪️ Trading within a Bullish Channel formation.
▪️ We have a 50% Fibonacci pullback level of 74.23 from 73.30 to 75.16.
▪️ Bespoke support is located at 74.32.
▪️ Further upside is expected although we prefer to set longs at our bespoke support levels at 74.32, resulting in improved risk/reward.
Hello fellow traders.
For too long I have been playing with AUDCAD and not getting anywhere.
Because I'm strung and determined on it going short I'm trying to almost persuade it and push it following no real fundamentals/technical analysis and just general hopes and dreams.
HOWEVER. No more.
Head is back in the game and this is what we're looking...
EURAUD is Bearish - We look to Sell at 1.6500
▪️ Short term bias is mildly bearish.
▪️ Bespoke resistance is located at 1.6500.
▪️ We have a 61.8% Fibonacci pullback level of 1.6489 from 1.6771 to 1.6032.
▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 1.6500, resulting in improved risk/reward.
Good Day Traders, I hope all is well.
These are my thoughts for GBP/AUD.
After a strong and lengthy downtrend price has begun to exhaust and has found a strong level of support , further emphasised by a strong wick rejection on the 4hr.
Price then moved strongly from the area of support , indicating strong buy pressure and a potential reversal.
EURAUD is Bearish - We look to Sell at 1.6673
▪️ Short term bias is mildly bearish.
▪️ Bespoke resistance is located at 1.6673.
▪️ We have a 78.6% Fibonacci pullback level of 1.6700 from 1.6763 to 1.6469.
▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 1.6673, resulting in improved risk/reward.
AUDJPY is Bearish - We look to Sell at 69.80
▪️ Bespoke resistance is located at 69.80.
▪️ The medium term bias remains bearish.
▪️ Negative overnight flows lead to an expectation of a weak open this morning.
▪️ Although the anticipated move lower is corrective, it does offer ample risk/reward today.
▪️ Expect trading to remain mixed and volatile.
As the Dollar index is getting stronger AUD/USD should hopefully break the channel that has now formed outside of the downtrend. If we can break below and close below the support line then there could be a large fall to the downside.
Plus, the 20 Moving Average (yellow) has just crossed the 50 MA (grey), so if we can close below these there's another indication...
Price is struggling below ATR line.
Probability south is 55% (45% for the north). How far south if it moves, is another matter.
Disclaimers : This is not advice or encouragement to trade securities. No predictions and no guarantees supplied. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make...
Hardly anyone looks at the Australian 200. It is one of the best indices to short.
The Aussies strangely went north at open of their market last night - when the rest of the world's indices were burning down. There is usually a significant lag between the AUS200 and the other indices, which I decided to exploit.
This morning 08:30AM 2020-04-01 it's struggling...
Im holding AUD/NZD short after breaking the bullish trendline from mid-March. After the break we saw a minor re-test followed by a close over the 50 EMA. Price moved to the downside before retracing to the 50 EMA and rejecting the 50.00%.
I entered this trade at 1.01992 and will be keeping an eye on with the aim to hit the -27.00%, SL moved to entry so this trade...
This is a key position. Shorting this means that one is willing to take a controlled affordable loss above the amber ATR line (there is no formula to work that out).
This is a trend following set up - so there are no targets.
The Australian Dollar inched lower on Friday, but still managed to close higher for the week. The Aussie continued to be supported by the Reserve Bank’s (RBA) optimistic outlook for the economy, but gains were likely capped by the strong U.S. economy and uncertainty over the economic impact of the coronavirus on China’s economy, Australia’s largest trading...