AUDUSDThere is a strong support zone at 1779. With the US government going to print money and BULISH flag, if it cannot breakthrough Support zone, good opportunity for a long position. Make sure you confirm that it has been rejected before you place a long position. Please let me know your thoughts :)
Audusd4hr
AudUsd- 0.75 is still my targetA few days ago I've spoken about the tight consolidation that AudUsd is trading in and the fact that the probabilities are for an upbreak.
Now the pair is trading around 0.7350 and we have this upbreak.
With USD against the ropes, I expect the rise to continue and Aussie can go to 0.75 in the next trading sessions.
I will remain bullish as long as the pair is staying above 0.73 on the daily close basis
AUDUSD 60 PIP SELLAUDUSD showing great potential for a 60 PIP drop. As we can see on the 4hr chart that a descending triangle was recently broken and we have now reached a level where price was rejected before and seems to have done now. With this rejection i can see a pull back of around 60 Pips to retest the previous descending triangle before forming further higher highs. I have set TP at the next most significant zone in the previous trend which was rejected multiple times which leads me to believe it could also be support for the pull back . This support zone is also situated at the 0.50 fib level which further leads me to believe price will return to this level and now find support instead of resistance. RSI(10) recently showed an oversold condition in the focused area as well. With these points combined i think AUDUSD has great potential for a 60 PIP drop. TP is set at 60 PIPS and SL at 35 PIPS !
AUDUSD what will be the next stop - Detailed analysisAUDUSD
If we observed closely the Volume profile if the price broke below of upper side of POINT OF CONTROL its tend to move on the upper hand side either bullish/bearish. After reaching the 0.74000 key psychological level its got some major rejection and felled below August low and reached 0.70000 key psychological level
The negative risk sentiment has influence this pair negatively and seen a deeper correction. And felled below 50% Fibonacci retracement level broadly. The Economic condition in Australia is deteriorating as the manufacturing sector facing a pandemic shock. And the Diplomatic relationship with People republic of China is strained in recent days as the Former country is imposing wide range of ban to the imports such us beef,wines,oats etc. And Central government of Australia is asking a probe against china for the epidemic of corona virus. And the Australian government is preparing to unveil locality based lockdown measures to curtail the spread of infections and in State of Victoria the lock down is already imposed
AUD is the Proxy currency tend to react to the market positive/negative sentiment rather than local factors. Positive vaccine news and the economy rebound around the world will boost up the AUD pair along with the NZD
On technical front 200 SMA is acting as barrier for the bull in 4hr timeframe coordinates with 50% Fibonacci retracement level. Above that 38.2% Fibonacci (0.72585)will act as support level for the Bear and its coordinates with the upside trend line. And above which August high level act as another support level for the bear
We can expect sellers will push the price towards south from this level and the downside target would be 0.71350 and swing target would be 0.70000. And even may reach the lower trend line area
If the Price broke the 0.73450 then the bearish trend will get invalidated. and the bullish target would be 0.74110 which is a September month high
Hourly
In one hour timeframe the price moved above the 200EMA and RSI has reached overbought territory we may expect short term downward moment towards 200 EMA currently lying at 0.71400. At the time of writing a doji candle has formed which indicates the continuation of the bullish run
Daily
In daily timeframe the Strong bullish engulfing candle was formed on September 28 and AUDUSD went bullish for the four straight day. Ichimoku cloud is slightly turn red and pointing towards south. RSI managed to push above the 50 level
Weekly
In weekly timeframe the bullish candle is still hiding under the strong bearish candle and 200 EMA capped the upside rally today
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AUDUSD change of trendAudusd needs another leg down to change to uptrend in higher time frames ( needs a higher low at higher time frames) DXY changing trend also proves this
Stocks also dropping, AUD will drop with them.
Watch lower time frames to add short positions wait for the spike where most sellers will be removed (0.73400/500 area)
Good luck everyone
AUD/USD moving in upward channel.Currently, AUD/USD is trading at 0.7303. The pair is trading in upward resistance and support channel and about to break its entry level. The price is moving towards its support level at 0.7200 and it can rebound back after touching support level. So, it it breaks the entry level at 0.7300, it may continue its down trend and can touch its target price ( support level ) at 0.7200.
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Rishikesh Lilawat
A pullback is likely in AUDUSDIn my previous #AUDUSD idea, I told you to buy at 0.7100 level and target the 0.7220 level( idea links attached below). That trade played out perfectly and my TP reached yesterday.
AUD/USD has currently pulled back from the resistance level around 0.7230. If price stays below the resistance level, it is possible to see a small correction towards the 0.7130 level.
I have already sold at 0.7230 and currently holding that trade.
AUDSUD| GOING FOR THE WIN?Good morning Traders,
this pair is an interesting one, Price action is clearly pushing up but I seeing wicks at the tops of the candles indicated by the red arrows, this too me suggests the push up is not sustainable and we may likely see a reversal from a higher level.
alternatively we could have some very strong bullish candle closes over the next few hours therefore suggesting to me that we have good momentum to the upside and if we do i will be onlooking for a potential entry, given that price action confirms it.
let me know your thoughts.
AUDUSD - KILL POSITION / BIG SELLWe can see previously when price broke this level it dropped significantly to the highlighted level of support, I expect the same thing to occur
I see multiple points of divergence and price had dropped previously only to retest the area
I see a flag formation formed as well so once thats broken... BOOM big sell
Getting in this later with the following signal:
AUDUSD - SELL
SL - 0.71116
TP - 0.62949