AUDUSD in Begining of Strong Uptrend According to missed Daily P
Today it looks like there is little chance of AUD reaching down to touch the daily pivot after not doing so as well yesterday. 1 missed pivot with a touch and go in the same direction the day after a miss is a strong signal usually lasting about a week, but missing the pivot as well on the 2nd and now maybe even the 3rd day on Monday is a STRONG BULL TREND SIGNAL!! Heavy 86/14 Bull sentiment which is not good but it looks like a lot of traders are already on this train now leaving the station!
Note
Of further note is whether or not R1/S1 levels are touched. Uptrends hit R1's while mostly ignoring S1's and vice versa. Strong moves also miss the Pivot while impacting one or more extreme levels. Yesterday, for the 2nd day in a row the Pivot was missed while R1 was touched. Caution note is the touch of R1 yesterday at 20:52 was very brief and gave some clues that it may be a reversal since price came down immediately to below the 50ema, 15m and also is on the cusp of breaking the regression channel from the 9 May low. MACD and Mo also signaled -Divergence. Monday will reveal what happens next !Note
Seems the nearer and more recent missed pivots are getting attention first! Price went down to tag the Pivot missed on 11 May at .75070. First tagged today at 2pm and barely again at 2:30. S1 was just above this level today so it will be interesting to see if the 2nd missed pivot from the 10th will get attention soon at .74464?!Note
My bet is a healthy down day tomorrow, possible reversing at the missed pivot is in store.Note
Amazingly both recent missed pivots were hit yesterday and now AUDUSDreversed and is free to head higher for missed pivots at 76290 to 77530!Note
Bearish Wage/Price news report drove AUDUSD back to Double bottom at yesterday's Lo but now with +Divergence! .744472 held and coming back north!Note
Todays' Pivot of .74860 and then those of late April are targets north!Last Update!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.