The AUDUSD pair is inside an upside trend, since June 2016. Higher tops and higher bottoms were defining that trend. Currently, there are the first signs of a potential weakening bullish dynamic : - The pace of the progression is slowing down , as shown by the break of the ascending trendline support. This was the first signal that should have raised our...
Talking Points: AUDNZD Technical Strategy: Re-initiating Long position Elliottwave Count: Reversal is in process after wave 2 completion Analysis AUDNZD is expecting to complete it's wave 2 correction @ 1.0350 after having an high over 1.0726. We were seen corrective move towards 1.0350 in expanded flat correction. We also had a nice bounce from channel...
This double top pattern on H4 chart of the AUD/NZD pair offers an opportunity for a bearish breakout trade. The pattern's tops and neckline are marked with the yellow lines. My potential entry level - the cyan line. My potential take-profit level - the green line. Stop-loss is to be set to the high of the breakout bar (not shown).
Bounce from Fib and Moving Averages gives hope that red resistance line could be broken. MACD going bullish, together with RSI and Stoch might give enough power for pair to break trend upwards. Hoping for strong euro tendency from last week to continue (effects of CETA agreement). RISKY, if trend not broken, I'll be looking for short.
AUD / CHF back again on dynamic resistance. We have seen currency pair bounced inside the channel for nearly two months. Monitor closely the price movements in the 0.7630 to 0.7680 area. A new bounce or overcoming this could be good opportunities to invest in the pair.
Watch carefully at the 1.4350 area over the coming days. A confirmed breakout could see strong euro appreciation.
The Australian dollar has been consolidating on the daily chart since mid year. It has continued to compress into a tighter formation and now appears to be nearing the end of a correction to the down move that began near end of 2014 on weekly chart. On the monthly chart, all indicators have pulled back from extreme oversold conditions of Feb 2016 to what...
Based on over bought RSI55 div and few bearish probes in 2016 look forward for cont. sell action to confirmed bearish levels. Hard stop lines (red lines) are fit on depth to appropriate tp levels (blue lines).
Potential for short at resistance. Keep an eye out on this trade :)
EURAUD may make a good hedge trade for an EURGBP short in case the Euro maintains some strength.
While Elliot wave theory have many scenario to predict, evaluate and select, the chart pattern tell you only one thing. Here i will regard the triangle as classical pattern rather than one of elliot correction patterns. So once the upper or lower red line broke it signal of entry. Good luck
XA - is the impulsive bull wave from the low. AB=CD - Correction is coming to an end. We are seeing a multimonth Flag Pattern. I am expecting a fake breakout / bear trap to the downside, by breaking the flag to the downside, we are going to see a strong upmove in the coming days. I entered a highly speculative long position @ 1.0275 with a tight stop @ 1.0249...
after the news...AUDUSD will start to rally downdward...it may spike on the way, but it will have to follow the PPP rules...
The near-term series of higher highs & lows inAUD/USDmay gather pace next week as the Reserve Bank of Australia (RBA) is widely anticipated to retain its current policy in September, while the regions 2Q Gross Domestic Product (GDP) report is projected to highlight the fastest pace of growth since 2012.
It's likely that the market is going to continue falling down.
The market is likely going to continue falling down in the third wave.