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Audusd-trading

AUD/USD – Stuck at triangle resistanceAussie is having a tough time chewing through the triangle resistance. Despite the sharp rise today, bulls need to observe caution as we had a fake bullish triangle breakout in October. Furthermore, immediate resistance is lined up at 0.7740-0.7760 levels. Hence, only a daily close above 0.7760 would signal continuation the larger uptrend from January lows. However, Aussie bulls could take heart from the fact that the 100-DMA is sloping upwards once again and more importantly.
by TipTVFinance
AUD/USD – flirting with confluence of resistancePair’s rebound from 100-DMA support last week if followed by a failure to cut through/hold above 0.7606 (rising trend line coming from May 30 low and July 27 low + weekly 5-MA + weekly 50-MA of 0.7588) would signal a fresh drop to 0.7349 (weekly 50-MA). Note the multiple weekly candles with long upper shadows. Those add credence to the bearish view mentioned above. On the higher side, only a day end close above 0.7835 would signal onset of fresh rally towards 0.80 handle.
by TipTVFinance
AUD/USD – Trend reversal on cards?Aussie’s sharp retreat from 0.77 handle following multiple candles with larger upper shadows when viewed with an overbought money flow index suggests the bird is in for at least a short-term trend reversal. Also note the failure to hold above 0.7676 (161.8% Fib expansion). Thus, a bearish break below rising trend line looks likely, in which case the pair could head lower to 0.74 handle. The bearish view is at risk of day end close above 0.7760.
by TipTVFinance
AUD/USD – Poised for LT trend reversalAussie weekly chart shows the currency is just short of kissing the long-term falling trend line resistance. Last week’s candle failed to pierce through, however, in the wake of broad based dollar selling and rising gold and oil prices, the currency may take out the trend line resistance and confirm LT trend reversal. Weekly RSI and money flow index also point to continuation of the rally from Feb lows. Take a look at the weekly chart of the Dollar index, which shows the buck heading towards head and shoulder neckline seen around 91.46.
TVC:DXY
by TipTVFinance
AUD/USD - looking to re-test Thursday's low Plotting wave count on hourly chart indicates 5-wave structure in progress with an extended third wave. Within an extended third wave.. the 5th wave appears to have resumed, which could end up taking the pair to previous day's low of 0.7176 levels. A break below 0.7176 levels would open doors for 0.71 handle. If pair rebounds from 0.7176 levels, it would signal 5th wave truncation inside an extended third wave and thus may result in a sharp technical correction towards 0.7367 (May 17 high).
by TipTVFinance
AUD/USD bears haven't been crowded out yetAUD/USD bottomed out in Jan along with oil and recovered to 0.7835 levels. The sharp rise from January forced investors consider a possibility that a long term bottom may have been in place. However, monthly chart tells us, there is still another leg down pending - Head and Shoulder breakout gave us a downside target of 0.6460, but the pair turned higher from 0.6827 (near 2004 low), So the target is yet to be achieved. Plus, plotting waves shows us the fourth wave correction may come to an end around the falling trend line resistance. A rejection/failure to take out the falling trend line would signal the 5th wave lower has begun. As per wave rules, when the third wave is extended, the fifth wave usually matches the first wave in magnitude/duration. So wave 5 can take us down to 0.5668 by late mid-2018 (assuming it begins in next two months). This is because wave 1 led to a drop of 2232 pips during the time period of July 2011 to Aug 2014. Fundamental also indicate there is still juice left in the bearish view as - China rebalancing is far from done. Oil may have recovered, but base metals (& iron ore) are have little hope unless China rebalances (as that will help fuel export powerhouses across the globe and thus improve demand for metals).
by TipTVFinance
AUDUSD Trading plan for today. SWA approach.Swing Wave Approach Developed by author, This approach can be used by professionals and due to it’s simplicity it can be taught in a much shorter period than other Wave analysis offered on the market. The main idea behind it is catching a one swing. And the main use of the current approach is to trade, rather then analysing the long term price movement. The purpose of the approach is to make money out of the next swing of a tradable period. Impulse move, or the move towards the presumed main trend direction, is indicated with “i” followed by the wave number Each higher step/grade is marked with Capital “i” which stands for Impulse + apostrophe after the impulse wave number e.g.: I1’ - 1st impulse wave 2 steps higher, I1’' - 3 steps, I1’’’ - 4 steps I1’ I2’ I3’ 2 steps higher I1 I2 I3 1 step higher i1 i2 i3 trading period ‘i1 ‘i2 ‘i3 1 step lower ‘’i1 ‘’i2 ‘’i3 2 steps lower Corrective move is marked with letters, where a - 1st corrective wave, b - 2nd, etc… Each higher step/grade is marked with Capital letter + apostrophe after the ; e.g.: ‘ - 2 steps higher, ‘’-3 steps, ‘’’ - 4 steps A’ B’ C’ 2 steps higher A B C 1 step higher a b c trading period ‘a ‘b ’c 1 step lower ‘’a ‘’b ‘’c 2 steps lower Each lower step/grade marked with apostrophe before the lowercase letter; e.g.: ‘a - 1 step lower, ‘’a - 2 steps lower, ‘’’a - 3 steps lower
Short
by Marenno