$AUDUSD is sitting on the 0.8047 Support which is the Low of May 2010. Where will it be going ? Will this support hold ?Can we say this is the bottom ? Let watch this line more closely.
If the green channel is strong with strong support at around 0.8xxxx, and Jan 2015 finishes as a monthly DOJI, there might be a silver lining in AUZY dollar!
The horizontal lines indicate a support zone that matches up with a possible area on a diagonal future support zone(red dashed line).
The reason the blue horizontal line has been drawn to show past support is because of a break out followed by a pull back.
Also, the current condition of the market over all is gravitating farther from the tenkan. In hindsight...
A long-term look at the AUDJPY cross allows us to see a clear trendline resistance at the 101.70 level. Now that the market has fallen 400 pips after coming close to its 2013 highs in November, a long term double top seems possible. In a similar idea, I suggested a USDJPY reversal for the beginning of 2015, which I also see with the AUDJPY cross now.
If Aussie is strong, assian ~ eruo seassion
there could be new short entry
at 0.9287
Stop moved 0.935
Update :
Sorry, I need to cancle this idea
FX audusd has perfect bulish bat
I need to think of more safe entry.
Good luck
From bulish shark, rebound(50% is likely)
0.9343, near 20ma
There could be Short entry,bcause trend turned
watch for the emerging crab
I choose 0.934 entry, to 0.92, stop avobe 0.9386
AUD looks like a set up to resume down trend. Too early to tell. At any rate, there was a high volume day leading the following few days of sell off. Correction coming.
The down trend is probably over, but there's still resistance up ahead. The last swing down didn't make much progress below the prior swing low. So a small move down and a retest of the long-term bear trend line is likely to happen with a switchback bounce off of it, unless the developing short-term up trend prevails now and breaks through the level of 0.925...
It seems to be bulish, but it has yet to show some real strength. About to test the bear trend line for the 3rd time and then there's switchback resistance up above. So I expect to see some bullish price action, but it'll be probably short-lived, perhaps for a week only.
