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AUD/USD: Navigating Market Swings Amidst Economic IndicatorsAUD/USD: Navigating Market Swings Amidst Economic Indicators The Australian Dollar (AUD) has showcased its strength in the aftermath of the US Consumer Price Index (CPI) release. Despite an initial dip yesterday, the AUD demonstrated a robust recovery, maintaining its position within the 50% - 61.8% Fibonacci area. Supported by the 200 Moving Average and the dynamic trendline of a bullish channel, the technical analysis indicates a stable situation, fostering a modest upward movement. As the AUD/USD pair approaches the psychological level at 0.6700, market speculation on potential rate cuts by the US Federal Reserve (Fed) in March and May continues to provide support. Economic Landscape: Australia's Monthly Consumer Price Index for October and November revealed a marginal decrease, suggesting that Q4 2023 headline inflation may fall below the Reserve Bank of Australia's (RBA) annual forecast of 4.5%. The Australian Bureau of Statistics (ABS) job vacancies data, reflecting a decline for six consecutive quarters, aligns with the labor market's easing pressures. These factors indicate that the RBA might refrain from further interest rate hikes in February. Contrasting signals emerge from Australia's economic indicators, with Retail Sales increasing in November and December's Trade Surplus widening. While positive, these signals may not be sufficient to prompt the RBA to implement monetary policy easing, especially given the subdued inflation data. Forecast: Amidst these economic dynamics, our forecast maintains a positive outlook for the AUD/USD pair. The technical stability, coupled with market speculation favoring the Australian Dollar, suggests a potential growth in its value. Traders and investors will be keenly observing how the RBA responds to the contrasting economic indicators and whether the central bank decides to adjust its monetary policy stance in the coming months. Conclusion: The Australian Dollar's resilience in the face of market fluctuations and economic indicators is noteworthy. While inflationary concerns persist globally, Australia's economic data presents a nuanced picture. The AUD/USD pair's journey toward the 0.6700 level is an intriguing development, and its future trajectory will be shaped by a delicate balance between domestic economic factors and global market sentiment. Our preference Looking for a Long positions with target at 0.6940
Long
by FOREXN1
1
EURAUD to continue in the upward move?EURAUD - 24h expiry There is no clear indication that the upward move is coming to an end. Although we remain bullish overall, a correction is possible with plenty of room to move lower without impacting the trend higher. The RSI is trending higher. Risk/Reward would be poor to call a buy from current levels. A move through 1.6450 will confirm the bullish momentum. We look to Buy at 1.6410 (stop at 1.6370) Our profit targets will be 1.6510 and 1.6535 Resistance: 1.6450 / 1.6490 / 1.6500 Support: 1.6425 / 1.6415 / 1.6400 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.
Long
by OANDA
AUD/USD Strives for Heights Amid Dollar's ResurgenceAUD/USD Strives for Heights Amid Dollar's Resurgence: Navigating Market Dynamics The AUD/USD experienced a notable surge, reaching a fresh five-month high at 0.6870 before encountering a shift in momentum. During the American session, the pair saw a reversal, dipping below 0.6850 as the US Dollar staged a recovery, fueled by an uptick in Treasury yields. Market Response to US Data: Despite noteworthy data releases from the US on Thursday, including an unexpected increase in Initial Jobless Claims to 218,000, market participants seemed largely indifferent. The week ending December 23 also witnessed Pending Home Sales holding flat in November, falling short of the anticipated 1% increase. The resilience of the AUD/USD in the face of these figures suggests the pair's sensitivity to broader market dynamics. Upcoming Events and Data Focus: As we move into Friday's trading, Australia is void of scheduled data releases, placing the spotlight on the US with the release of the Chicago Purchasing Managers' Index (PMI). However, the real anticipation is directed towards next week's US employment data, featuring crucial indicators such as ADP, JOLTS, jobless claims, and Nonfarm payrolls. Technical Analysis and Bullish Outlook: Our analysis maintains a bullish stance, tracking the AUD/USD's price movements. Notably, the pair exhibited resilience with two rebounds on the dynamic trendline within Fibonacci areas. The upcoming Fibonacci zone, ranging between 38.3% and 50%, emerges as a potential trigger for another bullish impulse, following a swing-style pattern. Conclusion: The AUD/USD's journey to a five-month high showcases its inherent strength, even amid a resurging US Dollar. The market's reaction to US data and the upcoming focus on employment figures sets the stage for continued volatility. With our bullish outlook guided by technical analysis, the AUD/USD's ability to navigate Fibonacci zones suggests potential opportunities for traders in the evolving market landscape. As the pair readies for the next leg of its journey, investors are poised for strategic moves aligned with the dynamic interplay of global economic forces. Our preference Looking for a Long positions with target at 0.6940
Long
by FOREXN1
3
AUD rally stalls ahead of key US PCE inflation reportThe Australian dollar’s rally has met its match around a key resistance area, which includes the January trendline and Q3 open price. A 2-bar reversal formed on Wednesday, following RSI reaching overbought the day prior. And as the US dollar has weakened on bets on Fed cuts ahead of a key PCE inflation report, I suspect there may be some disappointment and the potential for a USD dollar bounce. This is why we’re looking for some mean reversion and towards the 0.6570 at a minimum (near its 200-day EMA) or support around 65c. Bears could seek to fade into low volatility retracements within Wednesday’s range, while prices remain beneath Wednesday’s high.
Short
by CityIndex
AUDUSD - Follow Your Friend ↗️Hello TradingView Family / Fellow Traders, 📈 AUDUSD has been overall bullish , trading inside the rising channel in blue and it is currently approaching the lower blue trendline. Moreover, the zone 0.665 is a robust support zone. 🎯 Therefore, the highlighted blue circle represents a significant area to consider for potential buy setups , as it marks the intersection of the green support and lower blue trendline acting as a non-horizontal support. 📚 As per my trading style: As AUDUSD approaches the blue circle zone, I will be actively searching for bullish reversal setups to capture the next bullish impulse movement. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
Long
by TheSignalyst
1
AUDJPY: Buy signalAUDJPY is neutral on its 1D technical outlook (RSI = 51.262, MACD = -0.010, ADX = 30.583) as it has been trading around its 1D MA50 for the last three weeks. We are currently on the bullish wave after the Channel Up made a HL on the 1D MA200, which is the long term Support (since June 2nd 2023). We are going long on today's pullback and target the R1 level (TP = 98.635). See how our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
Navigating GBPAUD's downtrendIn the upcoming trading session, our focus is squarely on GBPAUD as we explore a potential selling opportunity around the 1.90800 zone. GBPAUD, entrenched in a downtrend, is presently navigating a correction phase, drawing closer to the trend at the crucial 1.90800 support and resistance juncture. As we delve into this analysis, it's essential to consider the broader market dynamics. The prevailing downtrend in GBPAUD aligns with our anticipation of AUD strength. This expectation stems from the bullish bias observed in indices like NASDAQ, where positive correlations between stocks and the Australian Dollar (AUD) often influence currency movements. Consequently, traders should keep a watchful eye on this interplay as they strategize their positions in the GBPAUD pair. Trade safe, Joe.
Short
by JoeChampion
1
Interesting level to watch for GbpAud and GbpNzdHello fellow traders , my regular and new friends! Welcome and thanks for dropping by my post. Let's see how things play out at this key daily level turned Resistance. Do check out my stream video for the week to have more explanation in place. Do Like and Boost if you have learnt something and enjoyed the content, thank you! -- Get the right tools and an experienced Guide, you WILL navigate your way out of this "Dangerous Jungle"! -- ********************************************************************* Disclaimers: The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes. *********************************************************************
by Shadowing_The_Big_Boys
AUDCAD Analysis: Riding the Waves of Uptrend and CorrectionGreetings Traders, In today's trading session, our focus is directed towards AUDCAD, where we are actively monitoring a potential buying opportunity around the 0.89000 zone. AUDCAD is currently entrenched in an uptrend, and the ongoing correction phase is bringing the currency pair closer to the critical 0.89000 support and resistance area. As AUDCAD traverses its uptrend, traders are keenly observing the evolving correction phase, evaluating the potential for a strategic entry around the 0.89000 level. The support and resistance area serves as a pivotal juncture, presenting an opportune moment for traders to consider a buying position. Ensuring prudent risk management and staying attuned to market dynamics will be essential in navigating this phase of the AUDCAD trend. Trade safe, Joe.
Long
by JoeChampion
GBPAUD - Follow The Trend ↘️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📉 GBPAUD has been overall bearish trading below the red trendline, and it is currently retesting it. Moreover, the zone 1.9 is a robust resistance. 🏹 So the highlighted red circle is a strong area to look for sell setups as it is the intersection of the resistance zone in green and red trendline acting as a non-horizontal resistance. 📚 As per my trading style: As GBPAUD approaches the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Short
by TheSignalyst
AUDCHF Triangle waiting for the break-out.The AUDCHF pair is trading within a Triangle pattern since August with the 1D MA200 (orange trend-line) acting as the Resistance, having consecutive near rejections in December. If that breaks, we expect an aggressive bullish run towards Resistance 2, despite the presence of Resistance (0.952625). In that case, we will buy the break-out and target 0.61500 (just below Resistance 2). If however the Triangle breaks downwards first, we will wait until the price breaks below Support 1 (0.560685) and target 0.54000 (-9.09% from the recent high, which was a standard decline in 2023). This scenario is quite likely to take place as the 1D RSI has been trading within a Channel Down, showcasing a Bearish Divergence. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
EURAUD Trading plan on a Channel Down and a 1D Death Cross.The EURAUD pair has been trading within a Channel Down pattern since the August 17 2023 High. The price is now very close to the bottom (Lower Lows trend-line) of the pattern, which makes it a technical buy opportunity. As long as it is closing the 1D candle above the bottom, we will be bullish, targeting the top (Lower Highs trend-line) just above the 0.618 Fibonacci retracement level (as on October 23) at 1.66000. Since however the price action just formed a 1D Death Cross today, it is equally likely to see a bearish extension so if it closes a 1D candle below the Channel Down, we will take the (minimum) loss and sell instead, targeting Support 1 at 1.58500. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
EURAUD Downtrend Watch: Navigating the 1.63000 ZoneGreetings Traders, In tomorrow's trading session, our attention is on EURAUD as we actively explore a potential selling opportunity around the 1.63000 zone. Engaged in a downtrend, EURAUD signifies a sustained downward trajectory, reflecting prevailing market sentiment. Concurrently, the currency pair is undergoing a correction phase, steadily converging towards the trend at the pivotal 1.63000 support and resistance area. This numerical level bears significance as both a historical support point and a crucial juncture where the correction may intersect with substantial market forces. As traders prepare for tomorrow's session, a strategic approach involves a thorough assessment of optimal entry points within the identified 1.63000 zone. Aligning trading decisions with the ongoing downtrend and potential market dynamics at this critical support and resistance area is imperative. The convergence of the correction phase with historical support presents a compelling scenario for traders eyeing a potential selling opportunity.
Short
by JoeChampion
200AUD (Index) LongsMost major markets have been breaking All-Time-Highs. Momentum is still strongly bullish. Currently in a Bullish Outbreak, occurring after two same-sized retracements (represented by congruent grey rectangles). No indication of reversal, expecting price to continue hitting new highs. Preparing for Long positions after appropriate candlestick close. Keep an eye out for signs of bearish reversal. Invalidation point placed before the opening gap (red dashed line). Aggressively add to position if in profit, once price has found support. Avoid adding to position if negative.
CAPITALCOM:AU200Long
by virtual_an0maly
GBPAUD Bullish reversal emergingThis is an update on the GBPAUD pair regarding our November 19 analysis (see chart below) where we called for a sell at the top of the Channel Down: As you see the price action responded with a respectable decline that hasn't yet reached our 1.8300 Target and most likely this is due to the shift of the Channel Down a little upwards. This diverging Channel Down appears to have reached its bottom so it is best to book the profit on the sell. The 1D MACD is about to form a Bullish Cross and the last such pattern emerged on October 04, four days after the previous Lower Low. As a result we are switching to a buy now with a modest short-term target at the top of the main Channel Down at 1.90000. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
EURAUD continues to hold back the bears.EURAUD - 24h expiry Price action has continued to trend strongly lower and has stalled at the previous support near 1.6150. Price action looks to be forming a bottom. Further upside is expected. Risk/Reward would be poor to call a buy from current levels. A move through 1.6225 will confirm the bullish momentum. We look to Buy at 1.6190 (stop at 1.6154) Our profit targets will be 1.6280 and 1.6300 Resistance: 1.6250 / 1.6285 / 1.6300 Support: 1.6200 / 1.6175 / 1.6150 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.
Long
by OANDA