AUDUSD Potential DownsidesHey Traders, in tomorrow's trading session we are monitoring AUDUSD for a selling opportunity around 0.675 zone, attempting to capitalize on a potential AUDUSD downtrend, i'm watching the support and resistance level of 0.675 while considering the breakout of an uptrend. the plan is to watch the retrace around the same zone.
Trade safe, Joe.
Aud-usd
AUDUSDAUDUSD has been examined in different dimensions:
1- Strong supply and demand levels that I identify with my own indicator and system.
2- The structure of recently formed waves
3- Current market momentum
4- The structure of classical and price patterns
In this idea, I identified the direction of the market in different ways and in the second step, I analyzed the potential of continuation or reversal. Usually, paying attention to the trend and strength of the trend can greatly increase the accuracy of the analysis.
In general, I tried to describe the continuation of the movement in the simplest possible way in the diagram.
⚠️ Disclaimer:
This is a personal opinion and you are responsible for any trading decisions.
AUDUSD Post-News Long Forecast | 16th March 2023Fundamental Backdrop
1. Employment Change increased from -10.9k to 64.6k. The result was also better than the forecast of 49.7k
2. Unemployment Rate dropped from 3.7% to 3.5%. The result was also better than the forecast of 3.6%
3. We haven't seen both having good results since 17th November 2022 which saw a roughly 90 pip rise within the day.
4. The bias for AUD today is on a strong bullish side.
Technical Confluences
1. Price at the 0.66400 support level
2. Next resistance at 0.66900
Idea
With a strong bullish bias for AUD today, I'm expecting price to possibly head towards the next resistance at 0.66900.
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 Long Forecast | 17th March 2023Fundamental Backdrop
1. Employment Change increased from -10.9k to 64.6k. The result was also better than the forecast of 49.7k
2. Unemployment Rate dropped from 3.7% to 3.5%. The result was also better than the forecast of 3.6%
3. We haven't seen both having good results since 17th November 2022 which saw a roughly 90 pip rise within the day.
4. The bias for AUD today is on a strong bullish side.
Technical Confluences
1. Current resistance at 0.66900
2. Next resistance at 0.67750
Idea
If price manages to close above the resistance at 0.67000, we could see price head towards the next resistance at 0.67750.
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 Feels a need of correction before further downsidesHey Traders, AUDUSD is trading in a downtrend and extending pullbacks seems to approach the major trend. After the last CPI mix data USD have showed a decent outperformance against Commodity currencies, including USDCAD, NZDUSD and AUDUSD. so in today's trading session i will be watching a potential reversal around 0.669 supply and demand zone of the trend.
Trade safe, Joe.
AUDUSD to stall at previous support.AUDUSD - Intraday - We look to Sell at 0.6715 (stop at 0.6745)
Buying pressure from 0.6590 resulted in prices rejecting the dip.
The current move higher is expected to continue.
The bias is still for lower levels and we look for any gains to be limited.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Previous resistance located at 0.6717.
Our profit targets will be 0.6625 and 0.6550
Resistance: 0.6665 / 0.6780 / 0.6925
Support: 0.6550 / 0.6380 / 0.6170
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AUDUSD Breakout and Potential RetraceHey Traders, AUDUSD was trading in an uptrend but after yesterday's CPI data USD seems to gain back it original value as it was more of a Mix CPI. so today we are watching AUDUSD for a potential retrace around 0.667 as we noticed a Breakout of the trend.
Trade safe, Joe.
AUDUSD a bearish continuation? 🦐The AUD/USD pair has been trading in a descending channel with a series of lower highs and lower lows, which suggests that the overall market sentiment is bearish. The most recent price action has seen the price drop to the daily support level at 0.68700, and a retracement to the 50% Fibonacci retracement level of the previous bullish move at the round level 0.70000
As the price failed to break above the resistance level , it retreated back to the support level. The failure to break above the resistance level and the formation of lower highs and lower lows indicate that the sellers are in control of the market, and the price is likely to continue its downward trend.
If the price breaks below the support level at 0.68700, it would confirm the bearish bias in the market and signal a potential sell opportunity. Traders could look for a break below this level and enter a short position with a stop-loss order according to the Plancton's CPS rules.
AUDUSD Potential Long Forecast | 15th March 2023Fundamental Backdrop
1. China's National Economy Showed a Steady Recovery in the First Two Months which helps to strengthen the AUD
2. Eyes are on the AUD's Employment Change and Unemployment Rate, which are expected to be better than previous results, strengthening the AUD.
3. Watch out for the US PPI News tonight
Technical Confluences
1. Price at the 0.67000 support level
2. Next resistance at 0.67750
Idea
If price closes above the 0.67000 support level , we could see price continue heading towards the next resistance level at 0.67750.
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 Long Forecast | 14th March 2023Fundamental Backdrop
1. DXY continues to weaken
2. Westpac Consumer Sentiment 8.6% lift in house price expectations (Interest Rates Up)
3. Eyes are on the AUD's Employment Change and Unemployment Rate, which are expected to be better than previous results, strengthening the AUD.
4. Watch out for the US CPI News tonight
Technical Confluences
1. Price recently bounced off the near-term resistance at 0.66900
2. Next resistance at 0.67750
Idea
If price closes above the 0.67000 resistance level, we could see price continue heading towards the next resistance level at 0.67750.
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:A Breakout, but it will be a false one if CPI comes high.Hey Traders, Above is a technical overview on AUDUSD and the most important zones to watch. AUDUSD was trading in a downtrend and successfully managed to break it out after NFP news and current market sentiments. Currently the dollar seems indecisive prior to Tuesday CPI data so we expect some short term continuation to the upsides until CPI release.
Above we have a couple of scenarios, a Valid breakout and a false breakout.
When it has more potentials to be a False Breakout?
If CPI data comes high that will signals to us more of a hawkish monetary policy which means more of Dollar strength as fed will continue tightening the balance sheet.
When it has more potentials to be a Valid Breakout?
If CPI data comes soft that's going to be a good news for the fed so we will more likely have a less restrictive monetary policy and a weak Dollar.
Technically we have noticed a breakout of the downtrend so we will be watching the price action around 0.667 zone.
Feel free to ask any question.
Trade safe, Joe.
Charting 8 Currencies: A Weekly Forex Analysis and CPI PreviewIn this week's Tradingview analysis, I've examined eight individual currencies and marked off key levels, support/resistance, and trendlines. These charts help me gauge the strengths and weaknesses of different pairs, which I'll be keeping an eye on for the week.
However, the fundamental landscape is also worth watching, especially with the upcoming CPI event. Last week's NFP data was mixed, with some numbers beating expectations while others missed. Traders are now looking to Tuesday's CPI data to get a clearer sense of the market's direction. If the CPI data is a miss, we may see upside in risk assets and downside in the dollar. On the other hand, a beat in CPI could trigger the opposite response.
Here's a brief rundown of each currency:
USD: The 4H chart suggests an uptrend, but a break of the support level could lead to further downside. Reclaiming the key level could signal a continuation of the upside move.
GBP: Recent price action hit a resistance zone, and I expect a pullback. I'll be watching the key level around the 50% fib for a potential bounce or downside move.
EURUSD: The current uptrend may continue, but breaking the trendline and key level could trigger a downside move.
JPY: Price is at an interesting juncture. Breaking the pattern and key level could give it more momentum to the upside, but failing to do so could push price down to the second key level. Watching the US10Y for further downside momentum is also important because it can add strength to the JPY.
CHF: Recent price movements seem stretched, and I'll be watching for any pullback or price action at the prior resistance level.
AUD: The 4H candle just broke and closed below the prior support level, indicating potential downside. A reclaim of the prior support level could indicate a false break.
NZDUSD: Our support level is currently holding. If it breaks, we may see a downward move. However, a breakout above our trendline and key level would suggest a possible bullish move.
CAD: There's currently downside pressure on the CAD. Watching the key level 2 for a potential reversal or further downside move.
Wishing you all the best of luck in your trades, and I hope this breakdown provides some valuable insights.
Bearish AUDUSD OutlookThe AUDUSD has broken below the support level of 0.6700 and formed three consecutive daily doji candles. Currently, it is heading towards retesting the previous level we mentioned, which also coincides with a weekly downtrend line, an annual uptrend line, and a 23.60% Fibonacci retracement level. I anticipate the price to bounce off this level and continue its downward trend towards 0.655.
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AUDUSD Potential Long Forecast | 13th March 2023Fundamental Backdrop
1. DXY continues to weaken
2. Eyes are on the AUD's Employment Change and Unemployment Rate, which are expected to be better than previous results.
3. This will strengthen the AUD.
Technical Confluences
1. Price recently bounced off the near-term support at 0.66400
2. Near-term H1 resistance at 0.66900
Idea
Looking for price to continue heading towards the near-term H1 resistance at 0.66900.
Alternatively, price could retrace back down to the 0.66400 support level before heading back up.
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 H4 | Potential Bullish Looking at the H4 chart, we are looking for buy entry at 0.6549 which is an overlap support, take profit will be at 0.6644 and stop loss will be at 0.6487
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AUDUSD Outlook 10th March 2023Overnight, the AUDUSD traded down to the 0.6568 support level despite the overall downward move on the DXY.
As the price failed to break the support level, a brief move to the upside could be likely.
However, if the DXY recovers in strength from the release of positive NFP data, the AUDUSD could continue with the trend and trade significantly lower, down to the next key support level of 0.6430.
Alternatively, if the AUDUSD rises beyond the 0.6635 price level, which aligns with the 38.2% Fibonacci retracement level, further upside could be anticipated, with the key resistance at the 0.67 round number price level.
Ultimately, the next directional bias for the AUDUSD will be highly dependent on the outcome of the NFP later today.
AUDUSD: Hit the 4 month Support Zone over the 0.618 Fib. BullishThe AUDUSD pair is vastly oversold on the 1D time frame (RSI = 29.541, MACD = -0.008, ADX = 36.291) as the price hit the S1 Zone going back to November 21st. The 0.618 Fibonacci is at the bottom of this zone and makes the strongest possible Support. As a result we are turning long on this pair, targeting the 1D MA200 (TP1 = 0.67500) and the 1D MA50 (TP2 = 0.68500) on a 1 month horizon.
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AUDUSDIn this chart ( AUDUSD ), we see a disconnected channel pattern that will probably break upwards. In the lower time frame, we see a flag pattern that has the ability to continue based on the current momentum.
Of course, we have to wait until this channel breaks apart and then make a decision.
wait my friend...
AUDUSD Potential Forecast | 9th March 2023Fundamental Backdrop
1. Fed Powell mentions that upcoming FOMC meeting stance is up to NFP data release.
2. Market sentiments surrounding the USD has been flipped bullish.
3. Fed Powell mentions that Fed would not hesitate to hike the i/r at a faster pace.
Technical Confluences
1. Strong bearish momentum and pressure happening onto AUDUSD.
2. Price has broken certain key resistance levels and the latest one being 0.6627.
3. Given the strong bearish momentum, we can see price come further down in light of the NFP data release tomorrow.
Idea
I will be looking for price to continue its bearish momentum in the market.
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 should b a correction pullback on higher timeframewaiting for opportunity to short this...it might continue correcting more after this consolidation or break down further..
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AUD/USD:Breakout Neckline H&S And SHORT Continuation....Hello Traders! So, the Australian dollar (AUD) has gone down after the Reserve Bank of Australia (RBA) made a decision about interest rates. However, Antje Praefcke, an FX Analyst at Commerzbank, thinks we should be careful about assuming that this means the end of interest rate hikes in Australia.
Basically, the RBA still seems to be planning to raise interest rates further, but they're going to be looking at economic data before they make any more decisions. The market reacted to the RBA's statement by selling AUD, but it's not necessarily a sign that the interest rate cycle is over.
Like in other countries, some prices are going down (like energy prices) but others (like services and wages) are still going up. So, the market is going to be paying close attention to economic data to see what the RBA will do next.
AUDUSD RBA Decision 7th March 2023The AUDUSD remains "trapped" between the support (0.67) and resistance (0.6780) in the lead up to the Reserve Bank of Australia (RBA) interest rate decision at 11:30am GMT+8
The current expectation is for a 25bps rate hike, to take the interest rates in Australia from 3.35% to 3.60%. Generally, since August 2022, every interest rate hike from the RBA had seen the AUDUSD trade lower. This trend was broken with the most recent decision in February.
Currently trading at the 0.6746 price level, if the RBA does hike rates by 25bps AND signals that further rate hikes can be expected, the AUDUSD could trade up to the 0.6780 resistance level.
However, at the resistance level, if the price fails to break higher, the AUDUSD could reverse back down and continue to be trapped within the range.
AUDUSD Potential Forecast Pre-Cash Rate | 7th March 2023Fundamental Backdrop
1. The Trade Balance dropped from 12.99B to 11.69B, this shows that export demand dropped which creates a greater demand for foreign currency, weakening the AUD.
2. AUD's Cash Rate is going to be released at 11.30am SGT
3. Based on previous data we saw a roughly 30 - 50 pip drop within the day.
4. Expecting the AUD to drop later on towards the support at 0.67000
Technical Confluences
1. Price is currently in a strong bearish trend.
2. Price is also below the Ichimoku cloud, indicating a bearish market.
3. Near term strong support level at 0.66500
Idea
Expecting the AUD to drop towards the support at 0.67000. If price manages to break below that support level, we could see price head towards the near term strong support level at 0.66500.
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.