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Aud_usd

AUD/USD - Short from channel trend lineSo initially I was waiting for a pull back to .78500 for this pair before going short. Price has now broken out of the channel and is heading south. Ideally I would like to see a pull back to .76800 before entering which may take a couple of days if it moves back at all. Price has stalled at the yearly low set on 2nd Feb. I don't advise blindly entering this trade. Please observe price action around this price area and look for a rejection at .78600.
Short
by FollowMyTrades
AUD/USD DAILY BEARISH FIB FULFILMENT AUD/USD DAILY DAILY BEARISH A,B,C,D, FIB HAS RECENTLY BEEN FULFILLED. BOUNCE TO THE UPSIDE EXPECTED TO FORM A NEW LOWER HIGH BEFORE FALLING TO THE WEEKLY OVERALL FIB 2 TARGET. FRIDAY THE 19TH DECEMBER DAILY CANDLE CLOSE NEARLY SCRAPED A BULLISH ENGULFING BUT NOTHING SUBSTANTIAL IN TERMS OF BULLISH MOMENTUM. DUE TO FULFILLING THE DAILY FIB D EXTENSION AT 0.8140 WE COULD POSSIBLY SEE A SMALL BOUNCE TO THE UPSIDE...MAYBE EVEN TO CREATE A NEW LOWER SWING HIGH, MAYBE A 4TH T.L BOUNCE BEFORE RESUMING THE OVERALL DOWNTREND AND REACHING THE 0.7750-90 WEEKLY FIBONACCI EXTENSION 2 OVERALL THE LONGER TIMEFRAMES FOR AUSSIE ARE POINTING SOUTH AS WE ALSO HAD A STRONG MONTHLY KUMO BREAK FOR NOVEMBER CLOSE... WILL BE CHECKING BACK ON THIS PAIR THE 5TH OF JANUARY.
Short
by EzraCapital
6
Short Target in Play based on setup initiation breakout.We've had a short break (a while ago) and have retraced back above my target entry point. This gives a great risk reward ratio since I didn't get in on this originally (wasn't watching pair - note to self need to script/automate setup identification!!). Anyway I'm now in short to T1 and then will reduce position and set trailing stop on remaining. As per all my previous setup IDEAs (having great success by the way!) I am not identifying trend here as I am merely identifying price targets based on price action and underlying short-term momentum - I do use higher time-frames to give me a view on direction but due to risk per trade (no more than 1%) I am looking for short term action that gets me in and out on a reasonable timeframe.
Short
by dru_01
AUD/USD - Waiting to go ShortThis channel seems solid. If the price hits the resistance line, wait for the slight bounce and go short. Ideal entry would be in the green circle. However, this is valid only after the GDP release (orange vertical). Don't initiate any trade before that. *Price doesn't have to move exactly according to my arrows. What's important is to hit the resistance line after the GDP release and bounce back down a bit. RSI must be overbought with Stoch preparing to go down. ~2 hours
by Oaken
AUD/USD Continued Short BiasAll of last week I was short the AUD/USD and this netted some decent pips. NFP data did stop me out but my tight parabolic SAR trailing stop (4H chart) ensured most of last week's move was bagged. The question is whether the downside bias will continue. I think it will and have entered short as we are testing the kumo from beneath on the daily chart. I expect price to try and retest this level (also represented by the top of the Kumo on the 1 hour chart) and the Kijun (red line ofn the 4hour chart) before continuing to the downside. Some fairly big economic data concerning Australia later in the week mind so watch out for an increase in volatility
Short
by DTFXTrading
4
AUD/USD to Continue Short?I have been short the AUD/USD pair all week on the 4H time frame and this has been a good trade. On the daily, we have no broken through the Kumo to the south and this could potentially see a larger downward move. The smaller time frames show that prices are creeping back up (I think) to re-test this area of the Kumo (0.9321 to 0.9340 area) and trend line above. If you are not already short this pair then an entry could be achieved near the bottom edge of the kumo (with a stop just the other side) for a low risk entry. I'd suggest waiting until NFP data is out of the way. This will be invalidated if price hangs around in the Kumo and Chikou (currently on the trend line) fails to break the kumo.
Short
by DTFXTrading
1
General Market Outlook - June 21st, 2014Note: I got rid of NZD/USD and USD/CHF. NZD/USD pretty much correlates with AUD/USD while USD/CHF correlates with EUR/USD, so I figured it was redundant to analyze both pairs. ------------------------------------------------- Interesting Pairs: AUD/USD - Bearish - Price tested the broken trend line last week and bounced down - Price retested the same price level this week and started to bounce down - Personally, I wouldn't short now because it would effectively be chasing. It dropped about 50 pips so far, so you would need a wide stop to enter this trade now. - Maybe if it retraced to 0.94, I would consider it but AUD/USD isn't high on my "to trade" list right now. GBP/USD - Bearish - Although not a perfect butterfly (aka bearish gartley), price did bounce off the 161.8% fib level this week around 1.705X - Since price closed above the 1.7000 level on Friday, I expect bulls to have another push towards 1.705X or even 1.71. - So if you missed the entry at 1.705X (like I did), don't worry, you 'should' get another chance - Although the level of interest is at 1.705X, I'd prefer loading the majority of my short position closer to the 1.71 level if we get there. USD/CAD - Bullish - Price broke out of the descending triangle on Friday (magenta) but this bear run looks exhausted, USD/CAD has been dropping for most of the last 3 weeks already. - Currently price is sitting at the 1.075X level, which happens to be where the (blue) trend line is, so loading a few longs here wouldn't be a bad idea. - However, the level that I'm interested in is the 1.07 level, which is where the (red) trend line intersects with a previously broken resistance level. XAG/USD - Bearish - Price broke the blue descending trend line this week and surged upwards but until we break 21, I have doubts about this bull run. - Take a look at the red descending trend line, price fell around $23 the first time and $22 the second time, what are the odds the price will fall around $21 this time? - Each time price has dropped in the past, it went all the way down to the support level at $18.6X. - I'm not saying it's going to drop back down to support again this time but at the very least, I expect a retrace back down to the $20 level to test the broken trend line. After that, who knows? ------------------------------------------------- Developing Pairs: USD/JPY - Waiting for breakout - The only thing that I can see right now is a symmetrical triangle, which is a neutral pattern formation until it breaks out - So until it does, I'm sitting on the sidelines for this pair ------------------------------------------------- Confusing Pairs: EUR/USD - Conflicting short and long term views Long term - I see a potential bearish flag on the chart, which signals continuation drop is coming? Short term - A retrace wouldn't be out of the question for a healthy bear run but it would have to break the bear flag in order to do so, which conflicts with the long term view. Also, price never hit 1.4000 so that's a bull target that was never reached. ------------------------------------------------- Disclosure: All open positions are disclosed above, if I don't mention having one then it should be assumed at all times that I plan to trade based on my analysis, so take this into consideration as I may be biased.
by ForexWeeklyAnalysis
1