AUDUSD Potential DownsidesHey Traders, in today's trading session we are monitoring AUDUSD for a selling opportunity around 0.66500 zone, AUDUSD was trading in an uptrend and successfully managed to break it out, currently we are waiting for a potential retrace of the trend towards more lows.
Trade safe, Joe.
Aud-usd
AUDUSD Weekly Forecast CashRate | 4th June 2023Fundamental Backdrop
RBA Gov Lowe mentioned "Very Much in Data-Dependent Mode on Interest Rates", "Monetary Policy in Restrictive Territory"
This means that the RBA is closely monitoring economic data and could potentially continue increasing interest rates
CPI y/y also increased from 6.3% to 6.8%, this shows inflation is still on a strong rise which can lead to an increase in interest rates.
Cash Rate on Tuesday expected to maintain at 3.85%
Technical Confluences
Near-term resistance level at 0.66196
Next resistance at 0.67860
Near-term support level at 0.65220
Idea
If the RBA chooses to maintain its cash rate at 3.85% on Tuesday, we could see the AUD drop towards the near-term support at 0.65220.
However, if the unexpected occurs and the RBA chooses to increase its interest rates, we could see the price rise above the near-term resistance level at 0.66196, before heading towards the next resistance at 0.67860.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
Potential turning point for Audusd
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AUDUSD Potential DownsidesHey Traders, in today's trading session we are monitoring AUDUSD for a selling opportunity around 0.67000 zone, AUDUSD is trading in a downtrend and currently sees to be in a correction phase in which it is approaching the major trend at 0.67000 support and resistance zone.
Trade safe, Joe.
AUDUSD New bullish leg started inside the Channel DownAUDUSD made today the first strong green (1d) candle in a long time as it touched and rebounded at the bottom of the Channel Down.
This is the new bullish leg that should aim to fill the new Lower High.
Trading Plan:
1. Buy on the current market price.
Targets:
1. 0.67000 (3.70% rise from the bottom as the previous bullish leg).
Tips:
1. The RSI (1d) crossed above its MA line, same with March 13th. That was a day after the bottom of the Channel Down at the time and the start of the new bullish leg.
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Notes:
Past trading plan:
AUDUSD Bear FlagHey Traders. in today's trading session we are monitoring AUDUSD for a selling opportunity around 0.65 zone, in above chart we have a breakout of AUDUSD bear flag pattern, currently we are waiting for a correction to see a potential retrace of the flag towards more lows.
Trade safe, Joe.
AUDUSD Channel Down approaching its bottom. Time your buy.The AUDUSD pair is trading within a Channel Down pattern since the February 14 High and currently is close to completing the Bearish Leg to the new Lower Low. Our target is 0.64000, just above Support 1, where we will turn bullish again. The 1D RSI below 30.00 will be the ideal buy signal. The buy's target will be 0.66250, always below the 1D MA100 (green trend-line).
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AUDUSD SELL | CPI, RBA Gov Lowe speaks | 31st May 2023Fundamental Backdrop
RBA Gov Lowe spoke today
He mentioned "Very Much in Data-Dependent Mode on Interest Rates", "
"Monetary Policy in Restrictive Territory"
This means that the RBA is closely monitoring economic data and could potentially continue increasing interest rates
CPI y/y also increased from 6.3% to 6.8%, this shows inflation is still on a strong rise which can lead to the increase in interest rates.
Technical Confluences
Near-term resistance level at 0.65100
Near-term support level at 0.64150
Idea
Today's speech by RBA Gov Lowe indicates towards raising more interest rates in the future.
Based on previous data whenever the RBA raises interest rates, the AUD rises a few days before it drops.
We could see the AUD head towards the next support level at 0.64150 if interest rates are raised on 6th June.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
Looking for AUDUSD rallies.AUDUSD - 24h expiry
Selling pressure dominated price action yesterday and we expect this to continue today.
Previous support located at 0.6490.
The hourly chart technicals suggests further upside before the downtrend returns.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Further downside is expected although we prefer to sell into rallies close to the 0.6560 level.
We look to Sell at 0.6550 (stop at 0.6575)
Our profit targets will be 0.6490 and 0.6470
Resistance: 0.6550 / 0.6665 / 0.6780
Support: 0.6380 / 0.6170 / 0.5900
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
AUDUSD correction time; RSI/BBAND/STOCH/HAIKEN ASHIInstructions:
1)The Relative Strength Index (RSI) shows that the asset is temporarily overbought/oversold, suggesting a possible trend reversal.
2) Bollinger Bands indicator shows that the asset is currently in an upper/lower resistance/support zone.
3) The Forex Stochastic Oscillator (Stoch) helps identify buy and sell moments based on comparing the current price with the price range over a specific time frame.
4) In addition, I use Heiken Ashi candles, which help to see the trend in a smoother and smoother way.
Intervals:
D1:
1) RSI under level 30
2) Price bounced off the Bollinger band
3) Stoch under level 30 and green line (buy) is dominating
4) Haiken Ashi still red so we can wait
H4:
1) RSI under level 30
2) Price bounced off the Bollinger band
3) Stoch under level 30 and green line (buy) is dominating
4) Haiken Ashi green candle is building
H1:
Conclusions:
Based on the analysis of the RSI, Bollinger Bands, Stoch and the Heiken Ashi candles, it appears that the AUDUSD asset may be at a turning point.
Stop Lose:
Under the top of the Bollinger Band +10/15pips. SL will be set at break even after a 10/15pips gain.
aud/usdWe are closely observing the AUDUSD pair for a potential selling opportunity within the 0.66600 zone. As AUDUSD continues to trade in a downward direction, it is presently undergoing a correction phase, gradually nearing the crucial trendline at the 0.666 level, which acts as both a support and resistance area.
A SELL TRADE SETUP ON AUDUSDHey Traders,
Check this analysis on AUDUSD out.
The pair just broke below the daily support zone and now i am anticipating for a 50% to 61.8% correction touching the supply area for a nice and smooth sell opportunity.
Provided that DXY remain strong.
Keep a close tab on this as well.
AUDUSD Weekly Forecast | 29th May 2023Fundamental Backdrop
RBA Gov Lowe speaking on Wednesday.
He repeated that the RBA would have to resort to the only “blunt instrument” at its disposal, which was to keep increasing interest rates.
Previously an increase to the interest rates only caused the AUD to weaken further.
Technical Confluences
Near-term resistance level at 0.65700
Near-term support level at 0.65200
Next support at 0.64150
Idea
This Wednesday if he is dovish on his speech towards raising more interest rates in the future, we could see the AUD head towards the next support level at 0.64150.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
AUDUSD Potential DownsidesHey Traders, in the coming week we are monitoring AUDUSD for a selling opportunity around 0.66100 zone, AUDUSD was trading in an uptrend and successfully managed to break it out. currently AUDUSD is in a correction phase in which it is approaching the retrace area at 0.66100 support and resistance zone.
Trade safe, Joe.
AUDUSD to find sellers at previous key level?AUDUSD - Intraday
Posted a Bullish Hammer Bottom on the 4-hour chart.
A higher correction is expected.
Short-term bias has turned negative.
We, therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Further downside is expected although we prefer to sell into rallies close to the 0.6575 level.
We look to Sell at 0.6575 (stop at 0.6607)
Our profit targets will be 0.6495 and 0.6480
Resistance: 0.6550 / 0.6665 / 0.6780
Support: 0.6380 / 0.6170 / 0.5900
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
AUDUSD: Approaching the Channel Down bottom.AUDUSD is on a strong 2 day sell streak below both the 1D MA50 and 1D MA200 but is approaching the bottom/ LL trendline of the six month Channel Down. The 1D time frame is technically bearish (RSI = 36.760, MACD = -0.003, ADX = 28.005) and the closer the 1D RSi gets to being oversold (30.000) the stronger the buy signal on the long term becomes.
As long as the 1D candles close inside the Channel Down, we are buying this weakness, targeting R1 initially (TP1 = 0.6800) and if we get a closing over it as well, then re-buy and target the top of the Channel Down (TP2 = 0.7000).
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Will AUDUSD react at previous swing low?AUDUSD - 24h expiry
We are trading at oversold extremes.
Price action looks to be forming a bottom.
Indecisive price action has resulted in sideways congestion on the intraday chart.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
Previous support located at 0.6574.
We look to Buy at 0.6575 (stop at 0.6540)
Our profit targets will be 0.6665 and 0.6780
Resistance: 0.6665 / 0.6780 / 0.6925
Support: 0.6550 / 0.6380 / 0.6170
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
AUDUSD Weekly Forecast | 22nd May 2023Fundamental Backdrop
The Wage Price Index q/q maintained at 0.8% which shows that the economy has not improved.
Employment Change suffered significantly, dropping from 61.1k to -4.3k, which shows that consumer spending has been greatly reduced.
Unemployment Rate also increased from 3.5% to 3.7%, showing that overall economic health has detoriated.
Technical Confluences
Near-term resistance at 0.66940
Near-term support at 0.66360
Major support at 0.65950
Idea
This week with no major news events for AUD, we could see price continue bearish towards the major support at 0.65950.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
AUDUSD Breakout and Potential retraceHey Traders, in today's trading session we are monitoring AUDUSD for a selling opportunity around 0.66400 zone, in above chart we have a breakout of AUDUSD trend below 0.66400 support and resistance area, currently we will be watching a potential retrace of the trend towards more lows.
Trade safe, Joe.
AUD USD - FUNDAMENTAL ANALYSISCommodity Currencies Still Vulnerable
Danske expects that tighter financial conditions and vulnerability in the global economy will tend to undermine commodity currencies.
As far as the Australian dollar is concerned it adds; “With the global growth backdrop remaining weak, recovery in Chinese manufacturing losing steam and metal prices declining, the outlook for AUD FX remains modestly negative.”