AUDUSD is heading towards a pullback resistance and could potentially reverse off this level to drop lower towards our take profit target. Entry: 0.65867 Why we like it: There is a pullback resistance level Stop Loss: 0.66165 Why we like it: There is a pullback resistance that aligns with the 78.6% Fibonacci projection level Take Profit: 0.64608 Why we like...
AUDUSD D1 AUDUSD has gracefully hovered within the 0.63 to 0.65 range, a trend that persisted until the recent breakout spurred by the dollar's softening. The 0.65 handle encountered a noteworthy rejection, mirroring the resistance observed at cable 1.25. In light of these developments, a straightforward break-and-retest scenario cold unfold, suggesting the...
GBP/AUD is falling towards a pullback support and could potentially bounce off this level to climb higher. Buy entry is at 1.90568 which is a pullback support that aligns with the 61.8% Fibonacci retracement level. Stop loss is at 1.89600 which is a level that sits under an overlap support and the 78.6% Fibonacci retracement level. Take profit is at 1.91880...
The Aussie (AUD/USD) could fall towards a pullback support and potentially bounce off this level to climb higher. Buy entry is at 0.64551 which is a pullback support. Stop loss is at 0.64000 which is a level that sits under an overlap support and the 61.8% Fibonacci retracement level. Take profit is at 0.65222 which is a multi-swing-high resistance. High Risk...
AUD/NZD is falling towards an overlap support and could potentially bounce off this level to climb higher. Buy entry is at 1.07820 which is an overlap support that aligns with the 50.0% Fibonacci retracement level. Stop loss is at 1.07300 which is a level that sits under a confluence of Fibonacci levels i.e. the 61.8% retracement and 78.6% projection...
AUDJPY could fall towards a pullback support and potentially bounce off this level to rise higher towards our take profit target. Entry: 97.506 Why we like it: There is a pullback support that aligns close to the 38.2% Fibonacci retracement level Stop Loss: 97.025 Why we like it: There is a pullback support that aligns with the 61.8% Fibonacci retracement...
AUDUSD is falling towards a pullback support and could potentially bounce off this level to rise higher towards our take profit target. Entry: 0.64549 Why we like it: There is a pullback support that aligns close to the 38.2% Fibonacci retracement level Stop Loss: 0.64162 Why we like it: There is an overlap support that aligns with the 61.8% Fibonacci...
AUDUSD H8 AUDUSD, a currency pair known for its dynamic movement during the eastern session, owing to its base in the eastern time zone. We observed a substantial decline of up to 1.1R in the previous eastern session, although it's worth noting that stop losses are set with a broad coverage, extending to encompass all previous wicks. Today, we'll be keenly...
There is nothing as exciting as finding market direction and having the market play out in your direction and according to your plan and prediction. From last week, we saw prices retrace bearish in our 4-hour zone. On Friday, at about 1500 WAT, prices finally dipped into our zone and from there we knew it was time for the long bullish ride up. Because we were...
Expecting strength from the Aussie this week, even though the RBA hiked, I think the Aussie was negatively affected by the fall in commodities rates in the past week. I see no strength in the Euro and I think Friday's candle suggests that this pair may not break back into my ascending channel, this could form a double top too. Tuesday EUR GDP data - could be...
We're at the top end of the range for this pair, I am expecting BoJ to start backing its currency. I've recently noticed some negative correlation between USDJPY and the other XXXJPY crosses, so where USDJPY falls the others have been more bullish. That said if the BoJ get involved it will tank all of them. I'm not 100% what I really think will happen here, I...
Had a great breakout of the falling wedge that I called out in an earlier idea (I missed the trade as it happened sooner than I expected), but now I believe we'll fall back from resistance (we can see some rejection on the daily) before confirming the trend change higher. No real fundamentals for this, pure price action.
AUDJPY is falling towards an overlap support and could potentially bounce off this level and rise up to our take profit target. Entry: 95.779 Why we like it: There is an overlap support that aligns close to the 50.0% Fibonacci retracement level Stop Loss: 95.450 Why we like it: There is a pullback support that aligns close to the 61.8% Fibonacci retracement...
The Aussie (AUD/USD) could fall towards a pullback support and potentially bounce off this level to climb higher. Buy entry is at 0.63931 which is a pullback support that aligns with the 61.8% Fibonacci retracement level. Stop loss is at 0.63588 which is a level that aligns with the 78.6% Fibonacci retracement level that sits under a pullback support. Take...
Drawing from our analysis of this pair in the past few weeks, we have seen this pair show considerable movement in both directions: bullish and bearish, especially on the 1 hour and 4 hour timeframes. With the spike across all USD crosses last Friday, this pair, like all other USD crosses, lost its bearishness and u-turned bullish on the 1 hour and 4 hour...
We are about 8 hours away from the latest Reserve Bank of Australia interest rate decision. That decision is due on Tuesday at 2:30 pm (local Aussie time), a couple of hours before the country's biggest horse race, the Melbourne Cup ($8 million in prize money) is set to take place. But perhaps the more exciting match ups will be occurring in the forex market....
AUDUSD is trading close to a pullback resistance and could potentially reverse to drop lower towards our take profit target. Entry: 0.65215 Why we like it: There is a pullback resistance level Stop Loss: 0.66055 Why we like it: There is a pullback resistance level Take Profit: 0.64127 Why we like it: There is a pullback support that aligns with the 50.0%...
The Aussie (AUD/USD) is rising towards a pullback resistance and could potentially reverse off this level to drop lower. Sell entry is at 0.65218 which is a pullback resistance. Stop loss is at 0.66250 which is a level that sits above a pullback resistance. Take profit is at 0.64127 which is a pullback support that aligns with the 50.0% Fibonacci retracement...