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AUDUSD Potential Upsidesour focal point is AUDUSD, as we actively monitor a potential buying opportunity around the 0.67000 zone. Presently riding an uptrend, AUDUSD exhibits a sustained upward trajectory. Simultaneously, the currency pair is in a correction phase, gradually converging towards the trend at the critical 0.67000 support and resistance area. This numerical level holds significance as both a historical support point and a crucial juncture where the correction may intersect with substantial market forces. Our strategic approach for today's session involves a meticulous assessment of optimal entry points within the identified 0.67000 zone. Aligning our trading decisions with the ongoing uptrend and the potential market dynamics at the pivotal support and resistance area is crucial. Navigating the correction phase with precision is key as we aim to capitalize on the identified buying opportunity within the broader context of AUDUSD's current trend. Trade safe, Joe.
Long
by JoeChampion
AUDCAD: Would Aussie_Loonie experience more bearish days? Hello traders, This is the Daily chart! Regarding the daily chart, the bullish move that began in late September appears to be a correction rather than a sustained trend. Introduction: This analysis delves into the AUD/CAD outlook, focusing on supply and demand dynamics across various timeframes. Keep an eye on potential market reactions to the China Manufacturing Purchasing Managers Index (PMI) release, as it could influence the Aussie. Technical Analysis: Bullish Move as a Correction: The recent bullish move from late September is seen as a correction on the daily chart. Trade Setup: Breaking Below 0.88965: Activation of the red path and a potential long-term bearish move is anticipated if the price breaks below 0.88965. Breaking Over 0.91000: A break above 0.91000 could open an opportunity for a long position, with 0.90550 as a potential suitable entry point. Fundamental Consideration: Keep an eye on the China Manufacturing Purchasing Managers Index (PMI) release, as it may have a slight impact on the Aussie. Adjust positions accordingly. Risk Management: Adjust position sizes based on risk tolerance and maintain a favorable risk-reward ratio. Be mindful of potential market volatility surrounding fundamental events.
by AliSignals
AUDJPY Our trading plan on this Channel Up.The AUDJPY pair gave us the pull-back we wanted last time (November 03) and delivered a buy opportunity that hit our 97.675 target (see chart below): The price has since pull-back and rebounded just before testing the 1D MA200 (orange trend-line). Even though it is still restrained below the 1D MA50 (blue trend-line), as long as the 1D MA200 holds, we expect this sequence to be the new bullish leg of the Channel Up, similar to the post July 28 bottom. The Higher High that followed, peaked just above the 1.136 Fibonacci extension level and as a result, our current target is 99.300. If however the price breaks and closes a 1D candle below the 1D MA200, we will take the loss and attempt to cover it by shorting towards 91.800 (Support 1). ------------------------------------------------------------------------------- ** 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 Downtrend and Key Resistance at 1.63200In anticipation of tomorrow's trading session, our attention is squarely fixed on EURAUD, where we are actively assessing the potential for a selling opportunity around the 1.63200 zone. Presently entrenched in a downtrend, EURAUD showcases a sustained downward trajectory. The currency pair is currently navigating a correction phase, steadily converging towards the trend at the pivotal 1.63200 resistance area. This numerical level not only holds significance as a historical resistance point but also marks a crucial juncture where the prevailing correction may encounter substantial market forces. Taking a comprehensive approach to our analysis, we consider both the technical trend in EURAUD and broader market dynamics. The interplay of a persistent downtrend, coupled with the imminent approach to the critical 1.63200 resistance zone, forms the foundation of our evaluation for a potential selling opportunity. As we navigate tomorrow's session, our strategic focus is on pinpointing optimal entry points within this identified numerical zone, aligning our trading decision with the evolving market conditions.
Short
by JoeChampion
AUD/USD another upward wave next week(~100pip)Hello Traders As you can see in 4Hr TF, AUD/USD is building the wave 5. In lower TF (1Hr) the wave 5 is making its own 12345 waveforms. So in next week, we expect the price will complete wave 5 and rise about 100~120 pips. Our technical view has been shown in the chart. If you like it then Support us by Like, Following, and Sharing. Thanks For Reading Team Fortuna -RC (Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
Long
by FortunaInvestments
AUDCHF Potential Upsides SNB DynamicsAs we gear up for tomorrow's trading session, our primary focus is on AUDCHF, with an aim to identify a potential buying opportunity around the 0.58100 zone. The recent transition of AUDCHF from a downtrend to a breakout phase signals an enticing prospect for bullish positions. Simultaneously, a nuanced analysis of the Swiss Franc (CHF), considering recent policy decisions by the Swiss National Bank (SNB) and broader economic indicators, suggests an environment conducive to potential CHF weakness. This additional layer adds further allure to a buying opportunity in AUDCHF. In tandem with the SNB analysis, AUDCHF is currently navigating a correction phase, approaching the retrace area at the crucial 0.58100 support zone. This numerical level holds significance not only as a key point on the price chart but also as a potential turning point in the ongoing correction. Our strategic approach involves closely monitoring the interplay between the recent breakout, the prevailing correction, and the pivotal 0.58100 support zone. By incorporating both technical and fundamental analyses, we aim to pinpoint strategic entry points for a potential buying opportunity, considering the evolving market dynamics in tomorrow's session.
Long
by JoeChampion
6
AUDUSD Potential UpsidesHey Traders, In the upcoming week, our attention will be focused on AUDUSD, as we explore a potential buying opportunity within the 0.66 zone. AUDUSD is currently entrenched in an uptrend, showcasing a sustained upward momentum. However, the currency pair is presently in a correction phase, gradually approaching the trend at the critical 0.66 support and resistance area. The ongoing correction in AUDUSD provides a nuanced market dynamic, offering the potential for a strategic entry point for buyers. The significance of the 0.66 support and resistance area lies in its historical importance, acting as a key level where price movements have previously demonstrated notable reactions. Traders will be closely monitoring this juncture for potential signals and cues that may influence their buying decisions in the coming week. Trade safe, Joe.
Long
by JoeChampion
2
AUDUSD: Rejection at the top of the Channel Down.AUDUSD is almost neutral on the 1D timeframe (RSI = 55.106, MACD = 0.003, ADX = 28.280) as it has started to decline again after the rejection on the 0.618 Fibonacci level near the top of the twelve month Channel Down. The 1D RSI got overbought at the top just like on the June 15th LH (also on the 0.618 Fibonacci), which was the previous most optimal short opportunity. We are going short on this pair again, targeting the S2 level (TP = 0.61725), which is near the bottom of the Channel Down as awell as the -0.236 Fibonacci extension (as was the October 3rd low). 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. ##
Short
by InvestingScope
AUDCHF - Trading The Channel 🌙Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📉 AUDCHF has been overall bearish trading inside the falling channel in red, and it is currently approaching around the upper bound / trendline. Moreover, the zone 0.59 is a strong resistance. 🏹 So the highlighted red circle is a strong area to look for sell setups as it is the intersection of the green resistance and upper red trendline acting as a non-horizontal resistance. 📚 As per my trading style: As AUDCHF 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
2
AUDUSD Channel Down still intact. Bullish if broken.The AUDUSD pair completed the bullish leg that we caught on our last call (October 24) and hit our 0.66000 1D MA200 (orange trend-line) target (see chart below): The price has made a initial rejection at the top (Lower Highs trend-line) of the Channel Down, so the pattern remains intact. Technically this is the start of the Bearish Leg towards Support 1 and 2 eventually near the Lower Lows trend-line. The bearish break-out signal will be given when the 1D RSI breaks below its Higher Lows. As a result until Resistance 1 (0.66900) breaks, we will target 0.62715 (Support 1) and upon a 1D candle closing below, 0.61715 (Support 2). If however Resistance 1 (hence the Lower Highs trend-line) breaks first, we will take the short's loss and instead buy, targeting first the 1W MA100 (red trend-line) at 0.67800 (+4.00% as the November 06 High) and upon a 1D candle closing above, extend to 0.68800 (+5.50% as the December 04 High). ------------------------------------------------------------------------------- ** 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
AUD/USD Consolidates Around 0.6600 Ahead of US NFP DataAUD/USD is trading within a narrow range around the 0.6600 level in the Asian trading session on Friday. Concerns about China's economic outlook and the temporary pause in the US Dollar's decline have restrained this currency pair ahead of the highly significant US NFP data. In Australia, October trade data failed to support the Australian Dollar (AUD). The trade surplus decreased to 7.129 million in October from the previous reading of 6.184 million, falling below the market estimate of 7.500 million. Furthermore, China's November import data has raised concerns about an economic slowdown in the world's second-largest economy. Optimistic data and new concerns about China's economy could convince the Reserve Bank of Australia (RBA) to cut interest rates in 2024, potentially pushing the AUD lower. Next, market participants will closely monitor the US Non-Farm Payrolls (NFP) report, scheduled for release later on Friday. Additionally, the Unemployment Rate, Average Hourly Earnings, and the University of Michigan Consumer Sentiment Index will be published. These events could cause market volatility and provide clearer direction for the AUD/USD pair.
by Larissa-Trader
AUDUSD Bearish move to continueThe Aussie dollar has been going down against the US dollar for the past few days. This is because the US dollar is getting stronger and the Aussie dollar is getting weaker. The Reserve Bank of Australia (RBA) kept interest rates the same at their last meeting, but the market expects interest rates to be cut in the second half of 2024. The US dollar has been strong recently, even though US data has been mixed. The number of job openings was lower than expected, but the ISM Services PMI rose to 52.7 in November, which was higher than expected. US yields dropped after the data was released, but the US dollar remained strong. More employment data will be released from the US this week, including the ADP report, the weekly Jobless Claims, and the Nonfarm Payrolls (NFP) release. Overall, we are expecting a further drop from AUDUSD, and the NFP release on Friday will either push that drop or generate a pullback, and then the drop will resume the following week, we will see... Please feel free to share comments about this analysis and your point of view, thank you all, and trade with care!
Short
by financialflagship