We are in a buy zone, buyers be careful but if we confirm this is a good area to capture some long covering. Watch the 10 EMA as the trade develops to give a clue as to when to exit.
Basicaly it's all written on chart, we are few hours shy of an RBA rate decision and statement publication. There are no hints of any action from RBA and the satatement should be dovish as usual with some words about to strong AUD hitting Australian economy hard.
Long story short.. as long as below 0,9372 level then "sell the rallies" is the basic scenario.
After trading the Pound to the short side off after the March high E-Target was identified, it went into a consolidation pattern and though it came close to the 61.8% retracement, it never closed above it. This kept the Short N-target in play.
Price has started moving away from the Tenkan-sen and I would expect to see a reversal sometime in the next two weeks...
All technical indicators tell us to sell. fundementals and sentimental analysis also say sell.
CCI move below channel.
MACD is just starting to start downwards momentum.
RSI is closing lower
Moving average, 20 day and 50 day is trending down.
AUDUSD has reached a critical decision point around 0.9400 handle. It has hit a strong resistance which coincides with it's yearly pivot level. In the past many weeks it has tried many times to break it but has failed so far. From here on it can go either way. Next few weeks are critical to get any clue of the future direction.
I've shared this 4 hour chart to illustrate greater insight on the entry and exit points, but the daily chart illustrate the bigger idea of buying at support/50 SMA in a pull back. GBP is showing signs of strength -- I'm already long GBPJPY and GBPAUD -- and so I think what we're seeing here are signs of accumulation. I think the lows of this past Friday, July 25,...
I've put some orders in to go long AUD over the past couple trading sessions, but those orders didn't get filled; the market ran off without me. I do think there may still be an opportunity on AUDJPY, though. If price can pullback about 25 pips (at the time of this writing) from 95.60 to 95.35, it will fall back to a key support level. I have an entry placed...
This is the exact same trade I put on several weeks ago, which benefited from the RBA decision to keep rates the same and the Fed's more dovish comments. That allowed its profit target to be hit relatively quickly, though recent comments from Glenn Stevens of the RBA caused price to fall right back to support. As such, I'm putting on the same trade again....
Glenn Stevens of the Reserve Bank of Australia made some comments favoring a weaker Australian dollar that presumably contributed to a decline in AUDUSD. Of course, central banks talking down their own currencies in the wake of the 2008 financial crisis is nothing new. And while it may have created a noticeable short-term effect, I think it will hardly be...
Two trades could play out here. The shark pattern (blue) being the most probable because of the strong previous structure of support now turned resistance between price $1.0178 at 1.13 fib extension and $1.1854 at .886 retracement. The kill zone would be between those two price levels. Price also recently formed a bat pattern (purple). We might see a pull back...
AUD/USD 4HR SupplyZone Trading - Short
This is trade I am watching for the AU. I know the chart is a 4HR but the Supply Zone was picked from the 1HR Chart.
Looking to short at the TriggerLine @ .9330 with a 1:1 RR for 50pips
This SupplyZone is between the 50% & 61.8% Fib levels and I did some research on the web and found out there are possible institutional...
The price action not breaching the upper bollinger band suggests that upward bias has temporarily wrested. The price action going below the Moving average (MA) line should be a decisive clue for softening of this currency pair. Both technical indicators exhibits a bearish outlook as the line bounces off the horizontal resistance line of 1.56-1.57.
The price action not breaching the upper bollinger band suggests that upward bias has temporarily wrested. The price action going below the bollinger Moving average line should be a decisive clue for softening of this currency pair. Both technical indicators exhibits a bearish outlook as the line bounces off the horizontal resistance line of 1.56-1.57.
The primary wave pattern shows, that the Aussie should on the verge of completing its 5 EW pattern against the CAD$. Therefore a final rally of around 400-500 pips can ensue completing this pattern. In the meantime a minor correction, before the final wave up, should be on the onset. Having said this, the count of 1.062, remains not activated and a break above...
Whilst grinding lower, the Aussie has failed to make significant headway to the downside.
A sharp selloff on Friday was met by equally large demand, erasing the entire move as the Aussie went Bid.
Whilst we understand that the majority of major inflection points are not always pretty, clean cut breaks, Friday's development indicated that the AUDUSD market appears...
A possible long opportunity is coming up for the AUD/USD. We would just need a little more movement upwards for me to jump in and say BUY with conviction. All the indicator signals are aligning to produce a message that says the market is ready to shoot up.
Signals:
Price bouncing off Linear regression.
Price bouncing off long term support.
MACD moving into...
Have to make a confession. My last Aussie dollar post showed a 50% retracement stop loss in place. It was actually a mental stop loss, that by the time I checked on the Aussie, it had breached the stop level and then fallen below it again. Mental stops are probably not the most ideal thing to do.
Back to the Aussie Dollar... still slowly grinding lower - but yet...
