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...
Friends,
The Aussie steamrolled over a potential counter-trend idea and marched on to loftier levels, which are now challenging significant technical patterns. In addition to predictive analysis and forecasting data calling for a reversal within the potential reversal zone (PRZ) range defined by technical data alone, a fundamental element is likely to come into...
