Hi Traders, We can see that from the initial low put in early last month AUDUSD has been in a bullish rotation. The structure zone of 0.7160-80 has been respected on a number of tests recently. Therefore I think it provides a good trading opportunity with a decent R:R. For anyone trading Aussie this week keep in mind we have RBA rate decision tomorrow (Tuesday)...
there is cypher developing on 4hr TF. IF bearish reversal candlesticks like bearish engulfing pattern or dark cloud cover or evening star forms at that PRZ, and still we have divergence on MACD, its a good opportunity for going short. PRZ completion for cypher is 78.6%
Declining resistance, Area of supply, 100 day MA CCI channel 9 straight days of gains in a falling commodity prices environment? the fundamentals just don't support the price right now.
On the AUD/USD Daily chart we have a potential short opportunity at the D leg completion of the Gartley Pattern. The price reversal zone that is of interest is between 0.7377 & 0.7438 The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's. This particular PRZ zone has some nice confluence from a strong...
Suspecting another move to the downside for this pair. Many confluences here: -Lower swing high with tweezer top characteristics. -61.8% fib pull-back. -Counter trend line break. -Current daily candle engulfing 4 previous days of price action
The Aussie has been falling for a long while. The sharp drop at 0.7690 tells us that there could be a move lower from this area. A possible target for this trend trade is 0.7640. EP: ~0.76900 SL: ~0.77000 TP: ~0.76400 R/R: 5:1 Higher up from this area is a H4 supply area where prices fell sharply. Prices rallied back up but failed to reach the zone before falling...
Economies worldwide slowing down or missed their forecast. Why? There are different explanations. Today, I do a quick analysis of AUDUSD and how I trade it. As you may or may not know Australia (atlas.media.mit.edu) and Brazil (atlas.media.mit.edu) together dominate the world's iron ore exports. Iron ore is the basic source for iron and steel industries. It is...
Sorry for being quiet this week trading view but I've been running things on the road. Also the markets have been pretty quiet this week so there just hasn't been a lot to share. Today seems to be a little bit better and I wanted to bring a potential buying opportunity on AUDUSD to your attention. I'm already long this pair from earlier in the week. My position...
AUD/USD - H1 Chart - Bat Pattern Here on the H1 chart of AUD/USD we have a nice Bat Pattern setup. With the D leg completion at .7988 we have a nice reversal zone at previous support, thus giving us a great opportunity to place stops just underneath. We must see a completion at D leg before any long entry is triggered. - SL must go below X - Target 1 at...
AUD/USD - 1H Chart - Advanced Patterns Everywhere! AUD.USD is giving us many advanced pattern setups so early in this week. We must see a completion at D leg before any pattern entry is triggered. - SL must go below X - Target 1 at 38.2% retracement - Target 2 at 61.8% retracement Good luck.
The aussie-yen cross tested a trend-line resistance at 93.30 yens Friday, and price action before the week's close suggests renewed selling pressure starting on Monday. 91.80 and 90.80 seem like plausible targets for short positions below 93.30. If the TL resistance breaks, however, I'd be rather bullish with an initial target of 94.50 given that prices are...
AUDUSD is still in longer term downtrend. In the last short term chart we were successful in taking short which didn't reach the 1st target level but came close. However, since then, it has bounced strongly in abc zigzag in what appears to be wave 4 retracement. The today's gap up open could set the scene for excellent short entry with tight...
BREAK RETEST CONTINUATION PATTERN. PRICE BROKE OUT OF SUPPORT WHICH HAS NOW TURNED INTO RESISTANCE. PRICE HAD TESTED THE RESISTANCE THEN BOUNCED OFF FORMING A INVERTED HAMMER. THIS LEVEL IS ALSO IN CONFLUENCE WITH THE 0.5 FIB LEVEL AND 20 SMA IS WHICH ACTING AS A DYNAMIC RESISTANCE
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.
price is at the top of a descending channel with a previous 2 touches. momentum is also bearish on higher time frames, if AB=CD then high probability of price reaching 161.8 ext in accordance with harmonic structure. MA are in correct positioning and 127 and 161.8 ext are in confluence with previous major support levels on weekly time frame. Risk-reward ratio...
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...