This is all technical analysis. This is a new and rarely used pattern goes by the name of Total Bullish. I encountered it from a Russian forum. The pattern has got its unique measurements of . I am expecting the bulls to loose their control at level 0.77328 which will be our take profit. My entry level was the blue coded line (0.757780) Stop loss...
PRICE HAS JUST MADE A HIGHER LOW WHICH LOOKS LIKE A GOOD OPPORTUNITY TO GET IN WITH THE UPTREND. THIS COULD BE A GOOD CHANCE TO GET IN BEFORE THE RBA STATEMENT ON TUESDAY. THEIR IS A VERY GOOD CHANCE THE RESERVE BANK OF AUSTRALIA (RBA) WILL CUT RATES WHICH WILL SIGNIFICANTLY WEAKEN THE AUSTRALIAN DOLLAR WHICH WILL CAUSE THIS PAIR TO APPRECIATE. THE REASON WHY IM...
The pair broke above the top trend line of the downward channel and should find buyers around 0.7670/ 0.7700 level. 100MA comes at 0.7730 and should support the pair in near term. Next major target on the upside would be 0.8000 physiological level and 0.8250 high of Jan 2015
Confluence Factors: 1. Double Top on Daily 2. Close below 50/60 EMA on Daily following a long-legged doji on 3/24/2015 via Daily Chart 3. Rejection of Key Weekly/Daily Resistance at .79000 4. Head & Shoulders Pattern on Hourly Chart 5. Trade is in agreement with overall Monthly/Weekly Bearish Trend
It might help to view it on a chart, but we can see that the Australian Dollar is overvalued (also by the technical indicator CCI) relative to the price of Iron ore which it has generally oscillated around in the past. A drop down to 0.70 should be expected according to most analysts and the RBA.
Considering my idea on the USDJPY (linked below), the Aussie currency is going for a similar pattern (TDP) to exit the triangle with some momentum. I'd expect a bounce on that support tho.
Before checking out what's in store for us on the fundamental side of things I would have called this a no-brainer trading opportunity. On the daily chart we have recently put in a LLLC and presently we're retracing back into the previous 2 days highs. Not to mention we've had the completion of a bearish Cypher pattern at 1.3828 which I'd be looking to use as an...
1. Break of Counter Trend Line 2. Break of demand zone 3. Break of key structure @0.7700 5. Trend Trade 6. Wolfe Wave 1st price objective HIT Short on test of Structure! R
After breaking through the 1.05 support level on the daily Chart, price came up to retest it and found resistance. It was also met with a bearish slap by the 50EMA line and the 0.382 Fib Retracement level. At this point a nice doji reversal candlestick formed and overall price is making the long way down after a triple top formed between September and November of...
We can see AUDUSD is oversold on RSI as well as I've found to cypher on 4 Hour TF. Long recommended around 0.7695 - 0.7670 where the SL can be 7620. Target around 0.7830
I'M ALREADY IN A SHORT POSITION BUT IF PRICE RETRACES UP TO MY SELL ZONE I WILL LOOK AT PRICE ACTION TO ADD IN ANOTHER POSITION AND TARGET 0.75000. I STRONGLY BELIEVE WE CAN GET TO THERE IN THE SHORT TERM BECAUSE THE LABOUR MARKET IN THE U.S KEEPS COMING OUT GOOD WHICH WILL HAVE INVESTORS/TRADERS SPECULATING A RATE HIKE AS EARLY AS JULY. ON TOP OF THAT AUD...
AUD/JPY has been in a dominant bearish trend since December 2014, continuing to print lower swing highs and lower swing lows. We now have an excellent opportunity to trade with momentum on our side as 6 confluence factors join together to create the perfect storm. Confluence Factors: 1. Trading With Dominant Bearish Trend 2. Rejection of Key 94.00 S/R...
AUDJPY has been in a downtrend for months due to a weakening Oz economy (in recession). The Aussie has strengthened this year climbing to the 0.50 retracement of the last downswing. The current upswing has taken out intermediate supply on its way up and is now getting to the 0.618 level which coincides with an intermediate supply zone @ ~94.160. the rally into...
A lot of news coming out this week for both CAD and AUD but on the technical side of things what I see is a bullish flag pattern forming within the C to D leg of a potential bearish bat pattern. I don't trade flags the same way i trade advanced patterns but I do like when they come back into previous structure as in this case so it's something I will certainly be...
CCI - Drifting from overbought back into the channel indicating reduced upward momentum. MACD - Look at the MACD crossover from relatively high level. A very powerful signal on a daily chart. DeMarker - Moving from overbought falling firmly into the channel. RSI - Bearish divergence. Linear Regression - Bouncing off the top of the channel. Also powerful...
A lot of traders have taken interest in the AUDNZD cross since 2014 as prices have reached a level around 1.04/05 that's held firm since 1979. While we may see another bounce off 1.035 in the coming days, recent price action suggests a risk of diving further towards multi-year lows before a true bottom can take shape. Looking at a monthly chart over the past 16...
We can see a potential cypher is forming on 4H TF AUDJPY which is completing around 95.70 area. We may sell this pair from 95.70-90 area targeting 93.40 & 92.50 as TP2.
Again, following the Downward MOMO Weekly Bearish FIB D -61.8 Target still not reached (0.7750-00) Stepped down to find more confluences (target and entry) to support my bias to go short! Now awaiting the bearish Flag downside break alongside the M.A crossover... 0.7700- 0.7600 Target Zones for this pair!