Levels discussed on livestream 27th June27th June
DXY: testing the support level (105.90) needs to stay above 105.75. Look for bounce to 106.40 (needs to break previous high)
NZDUSD: Sell 0.6065 SL 25 TP 80
AUDUSD: Test and reject 0.67, Sell 0.6695 SL 20 TP 60
USDJPY: Buy 161.10 SL 30 TP 90 (look to close quick!!!) Becareful, possible intervention area
GBPUSD: Sell 1.2590 SL 20 TP 75
EURUSD: Sell 1.0665 SL 15 TP 50
USDCHF: Buy 0.9025 SL 20 TP 50
USDCAD: Buy 1.3725 SL 20 TP 55
Gold: Watch out for support at 2285
AUDUSD
Aussie H4 | Approaching multi-swing-high resistanceThe Aussie (AUD/USD) is rising towards a multi-swing-high resistance and could potentially reverse off this level to drop lower.
Sell entry is at 0.6677 which is a multi-swing-high resistance.
Stop loss is at 0.6714 which is a level that sits above a swing-high resistance.
Take profit is at 0.6643 which is a pullback support that aligns close to the 50.0% Fibonacci retracement level.
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If not GDP, then maybe the PCE will force it out of the squeezeWe are currently seeing EASYMARKETS:AUDUSD struggling to find a clear direction, as it continues to sit between two tentative short-term trendlines.
Waiting for the US GDP and PCE figures to do something.
#audusd
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AUD/USD Upside Bias Supported by Hot AU InflationAustralian inflation accelerated 4% y/y in May, according to Wednesday’s data, marking the fastest pace in six months. The Reserve Bank of Australia was already worried around price pressures and had once again discussed raising rates during this month’s hold, while keeping the door open to further tightening. Yesterday’s hot CPI report likely aggravated these concerns and strengthens the case for a rate hike, while diminishing chances for a shift to a less restrictive chance this year.
AUD/USD erased its gains yesterday after the initial jump, but remains constructive and the monetary policy differential supports further upside. The US Fed is reluctant to pivot, but still sees a rate cut this year, while markets are more aggressive and price in two moves.
The technicals are also favorable, since the Aussie has defended the 38.2% Fibonacci of the last leg up and trades above the EMA200 (black line). This provide a solid basis for higher highs (0.6714) that would bring the 2024 peak in the spotlight (0.6839), although bulls don’t inspire yet confidence for challenging it.
On the other hand, the bar is high for further tightening by the RBA, while the weak Australian economy creates pressure for an easier monetary stance. The Fed meanwhile expects just one cut this year, due to the disinflation slowdown, which supports the greenback.
As such, the there is scope for renewed pressure towards the pivotal 38.2% Fibonacci and the daily Ichimoku Cloud, but sustained weakness below it is not easy given the favorable monetary policy differential.
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Past Performance is not an indicator of future results.
AUDUSD...UT ContinuationAustralia, being a significant exporter of commodities such as iron ore and coal, has experienced a boost in commodity prices. Commodity prices on the rise may have a positive impact on the Australian economy and the AUD.
There is a potential policy divergence between the Reserve Bank of Australia (RBA) and the US Federal Reserve. The RBA is considering the possibility of increasing interest rates in the future, while the US Federal Reserve appears to be approaching the end of its tightening cycle. This difference in interest rates may be appealing to investors considering the AUD.
AUDCADHi guys,
In this chart i Found a Demand Zone in AUDCAD CHART for short term trading entry,
Observed these Levels based on price action and Demand & Supply.
*Don't Take any trades based on this Picture.
... because this chart is for educational purpose only not for Buy or Sell Recommendation..
Thank you
Levels discussed on livestream 26th June26th June
DXY: Look for reaction at resistance level of 105.90, breakthrough could see price test 106.15
NZDUSD: Sell 0.6070 SL 20 TP 60
AUDUSD: Test and reject 0.67, Sell 0.6695 SL 15 TP 60
USDJPY: Buy 160 SL 30 TP 100
Becareful, possible intervention area
GBPUSD: Sell 1.2665 SL 15 TP 40
EURUSD: Sell 1.0660 SL 20 TP 50
USDCHF: Buy 0.9025 SL 25 TP 50
USDCAD: Buy 1.3680 SL 20 TP 40
Gold: break 2307 to trade down to 2292
Aussie H4 | Approaching swing-high resistanceThe Aussie (AUD/USD) is rising towards a swing-high resistance and could potentially reverse off this level to drop lower.
Sell entry is at 0.6700 which is a swing-high resistance.
Stop loss is at 0.6724 which is a level that sits above another swing-high resistance.
Take profit is at 0.6672 which is a pullback support.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Australian Inflation Pressures RBA for Rate Hike, Bolsters AUDAustralia's inflation concerns intensify as the May Consumer Price Index (CPI) surpassed expectations, reaching a troubling 4% year-over-year (YoY). This marks the third consecutive month of accelerating inflation, prompting anxieties about economic overheating and a potential shift in policy by the Reserve Bank of Australia (RBA).
The RBA, having previously achieved progress in curbing inflation (December 2023: 3.4% vs. December 2022 peak: 8.4%), now faces renewed challenges. The latest inflation data strengthens the argument for a rate hike, although the central bank is likely to await the June report (encompassing Q2 data) before reaching a decision in August.
Financial markets are already responsive, with the AUD appreciating against the USD in anticipation of the RBA tightening monetary policy. Short-term interest rate futures currently price in a greater than 50% chance of a rate hike by September, potentially rising to 80% following the June CPI release at the end of July.
The upcoming data release will be critical for the RBA's next move. While Assistant Governor Christopher Kent emphasized vigilance against inflation and hinted at potential policy adjustments, the June inflation report will provide a clearer picture.
Beyond Australia's borders, the global economic landscape adds another layer of complexity. The relative stability of the US Dollar, with investors exercising caution ahead of key US data releases, also influences AUD dynamics. Additionally, China's economic policies, as a major Australian trading partner, will indirectly impact the AUD's performance.
In conclusion, Australia's escalating inflation is pressuring the RBA towards a potential rate hike, which could bolster the AUD. The June inflation report and ongoing global economic developments will be key factors shaping the RBA's decision and the AUD's future trajectory.
AUDUSD 1H Long Trade - 1:3 RRRPair: AUDUSD
Action: Buy
RRR: 1:3
SL: 0.66307
TP: 0.67943
Indicators:
EMA200: The EMA200 serves as a critical indicator of the long-term trend direction.
MACD Trend: The MACD indicator helps traders assess the strength and direction of the trend.
Supertrend: The Supertrend indicator acts as a reliable tool for identifying entry points in alignment with the prevailing trend.
AUDUSD H1 | Bearish Drop Based on the H1 chart analysis, we can see that the price is rising toward our sell entry at 0.6650, which is an overlap resistance and a 50% Fibonacci retracement.
Our take profit will be at 0.6618, a pullback support level.
The stop loss will be at 0.6677, a multi-swing high resistance level.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
A strong rejectionPrice got rejected four times from the daily rejection block, initially engineered a supply zone that was mitigated, followed by a sweep. The liquidity sweep impulsively corrected the imbalance and significantly respected the demand zone at 0.65900. Then we experienced a hike to clear the liquidity created by the fair value gap which led to a minor decline to the hourly breaker block. From the 30 minute point of view we have the breaker as our base and price happened to make a sweep of liquidity and simultaneously mitigated the 30 minute order block. This indicates that we’re still in a bullish market because all the timeframes are in alignment and we currently have the 4h liquidity pool acting as our magnet. The anticipation here is for price to sweep the liquidity, mitigate the supply zone, provide us with the 5th retest to the daily rejection and we currently have a bullish engulfing candlestick to solidify this emerging hike before going bearish...
AUD/USD Coiling - Will We See an EOM Breakout?AUDUSD has carved out a sideways range between 0.6570 and 0.6710 dating back to early May, and even within that range, the pair has spent the last two weeks putting in a series of higher lows and lower highs.
This price action has created a symmetrical triangle pattern, hinting at a potential higher-volatility breakout heading into the US Core PCE report at the end of the week/month.
A bullish breakout would initially target the top of the range at 0.6710, and further toward 0.6800 in time, whereas a bearish breakdown could open the door for a drop toward 0.6500 or lower.
-MW
Australian dollar edges lower, CPI nextThe Australian dollar is slightly lower on Tuesday. AUD/USD is trading at 0.6638 in the North American session, down 0.27% on the day.
Australia’s Westpac Consumer Sentiment index flexed some muscle earlier on Tuesday but that didn’t help the Australian dollar. The index jumped 1.7% in June, a strong turnaround after three straight declines. Despite the improvement, consumer confidence remains deep in negative territory, at 83.6. The index has been mired below 100 for over two years as pessimistic continue to outnumber optimists by a wide margin.
Consumers have long been concerned that the Reserve Bank of Australia could raise interest rates, which at 4.35% are already at a 12-year high. The RBA remains concerned about sticky inflation and has warned that it could raise rates if inflationary pressures don’t ease. Inflation rose in April from 3.5% to 3.6% and May CPI, which will be released on Wednesday, is expected to rise to 3.8%.
If inflation did accelerate in May, it could set up another hold in rates and possibly a rate hike when the RBA meets in July. The RBA left interest rates at 4.35% at the June meeting for a seventh straight time and discussed the possibility of a rate hike at that meeting.
Inflation will be on center stage again on Thursday with the release of the Melbourne Institute Inflation Expectations, which is expected to rise to 4.3% in June, after a 4.1% gain in May.
In the US, Conference Board Consumer Confidence dipped to 100.4 in June, down from the revised 101.3 in May and just above the market estimate of 100.0, which separates pessimism from optimism.
AUD/USD is testing support at 0.6635. Below, there is support at 0.6591
0.6685 and 0.6729 are the next resistance lines
AUDUSD...UT Curve AnalysisAnalysts have expressed cautious optimism regarding the AUDUSD uptrend, taking into account the underlying fundamentals. However, it is important to note that there are certain factors that need to be considered:
Positive for AUD:
The Federal Reserve's consideration of a more accommodative approach, including the possibility of interest rate cuts, may have an impact on the relative strength of the Australian dollar (AUD) compared to the US dollar (USD).
China Rebound:
China is a major trading partner for Australia, and its economic recovery could boost demand for Australian commodities, strengthening the AUD.
Uncertainties:
US Inflation Data: Upcoming US CPI data is a key factor. Lower-than-expected inflation could further weaken the USD and support the AUD uptrend.
In general, the underlying factors appear to favor a sustained upward movement in AUDUSD. However, the future strength and duration of this upward trend will be influenced by upcoming economic data and global market conditions.
Levels discussed on Livestream 25th June25th June
DXY: Look for reaction if the price test 105.60 level (38.2%), rejection, look for price to trade down to 105.20. Breakthrough, price to test 105.90
NZDUSD: Buy 0.6155 SL 20 TP 60
AUDUSD: Sell 0.6670 SL 20 TP 80 (hesitation at 0.6630)
USDJPY: Becareful, possible intervention area
Buy 160 SL 30 TP 100
GBPUSD: Sell 1.2675 SL 20 TP 50
EURUSD: Sell 1.0715 SL 20 TP 40
USDCHF: Buy 0.8955 SL 20 TP 55
USDCAD: Buy 1.3625 SL 20 TP 40 (CPI data release pending)
Gold: Stay above 2317 to remain bullish
Buyer demand for Australian dollars is increasing
Looking at the trend in the four-hour time frame, AUDUSD is swinging in an ascending channel and now with support at 0.6631, the rate could rise to the important resistance area of the ceiling of the ascending channel in the range of 0.6720-0.6714.
Australian dollar calm ahead of consumer confidenceAustralian dollar has started the week quietly. AUD/USD is trading at 0.6648 early in the North American session, up 0.11% on the day.
Australia releases Westpac Consumer Sentiment early on Tuesday. Consumer confidence has been weak and fell 0.3% in May to 82.4, following a 2.4% decline in April. Consumers have been pessimistic about the weak economy and concerns that sticky inflation could prod the Reserve Bank of Australia to hike interest rates.
The RBA has maintained its stance of “higher for longer”, holding rates at 4.35% for the past five meetings. The central bank hasn’t shied away from warning that it could raise rates if inflationary pressures don’t ease. The April CPI report surprised on the upside, rising from 3.5% to 3.6%, above the market estimate of 3.5%. The May CPI report will be released on Wednesday, with a market estimate of 3.8%. If inflation does rise again, we will no doubt hear the RBA express its concern and reiterate that rate hikes remain on the table.
The economy is barely treading above water and posted a weak 0.1% gain in the first quarter, but the labor market, which is surprisingly tight, continues to confound the RBA and has dampened any hope of a rate cut in the near term.
There are no US releases on Monday but we’ll hear from two FOMC members, Christopher Waller and Mary Daly. Investors will be hoping for some insights about the Fed’s rate path. The Federal Reserve has been hawkish as inflation has been stickier than anticipated. The markets have priced in a rate cut in September at around 60%, according to CME’s FedWatch.
AUD/USD is testing resistance at 0.6655. Above, there is resistance at 0.6685
0.6591 and 0.6541 are the next support levels
Aussie H4 | Approaching 78.6% Fibonacci resistanceThe Aussie (AUD/USD) is rising towards a pullback resistance and could potentially reverse off this level to drop lower.
Sell entry is at 0.6672 which is a pullback resistance that aligns close to the 78.6% Fibonacci retracement level.
Stop loss is at 0.6714 which is a level that sits above a swing-high resistance.
Take profit is at 0.6626 which is a swing-low support that aligns close to the 61.8% Fibonacci retracement level.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Levels discussed on 24th June Livestream24th June
DXY: Needs to stay above 105.50 to remain bullish, could consolidate between 105.60 and 105.90
NZDUSD: Sell 0.6135 SL 15 TP 55 (hesitation at 0.61)
AUDUSD: Sell 0.6525 SL 15 TP 45
USDJPY: Becareful, possible intervention area
Buy 159.50 SL 30 TP 70
GBPUSD: Sell 1.2675 SL 20 TP 50
EURUSD: Buy 1.0675 SL 20 TP 80 (DXY weakness)
USDCHF: Buy 0.8955 SL 25 TP 55
USDCAD: Sell 1.3660 SL 15 TP 45
Gold: Above 2340 could trade up to 2366