#AUDUSD, Interesting opportunity on daily graphThere is a significant downward trend, which is why the signal is relatively high risk 3/5
You can see in the graph above that whenever the price touches the 200 moving average line (the yellow line) there is a downward acceleration, the Australian dollar will look to get there again.
The Stochastic confirms our thinking with its arrival at the lower level (20).
Target: 0.6950
Audusdbullish
Just for the sport, quick AUDUSD long trade setup...On the daily chart we can clearly see a Higher High is been made. On the 4 hour chart we can see that price finds support @0.683, this could be a nice window of opportunity to get in a quick long trade to 0.691. For beginners who are new to Forex trading this is a nice setup to trade, very low risk if your trade size isn’t too big. You will see this setup unfold within a week.
Just be patient and enjoy the show!
HAPPY MONDAY - AUDUSD ANALYSISFREE ANALYSIS ON AUDUSD
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4HR CHART
Price to test around 0.6189 (support turned resistance)
- We could see price move higher to the trend-line @ 0.69600 level
Nice bearish divergence also found
Keep an eye out for the buy, or wait for top to sell.
#AUDUSD, Support and Resistance analysis.A definite downward trend.
The audusd ranges in the range of 100 pips in the event of a break to either side the recommendation is to buy/sell in the same direction.
For traders who like short-term positions, the recommendation is to buy close to 0.6740 and sell close to 0.6805.
After analyzing the dollar, we came to the conclusion that we are more bullish on the coins against the dollar because we believe the dollar should go down.
AUDUSD BUYAUD/USD has formed a triangle and corrective wave touching the down trend line, all we see now is a clear upside break out of the triangle to head toward the resistance channel line . .
AUDUSD is also in connection to the USD which is going for short. So i will take my profits around the point 0.68600. Note . there will be a re trace so watch your trade carefully and take good profits , when it bulls out from the yellow line , take your profits 2 around 0.69400 ..
AUDUSD is also still looking for momentum for bullish move , Price is still consolidating and can break the resistance level. watch this trade carefully as it can still fall for the rest of the week ,
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AUDCHF WEEKLY ANALYSISAFTER MAKING A NEW SUPPORT ON AUGUST 15 2015 at price level 0.65345 it went back up at 0.78070 on 06 FEBURARY 2017 MAKING A PERFECT DOUBLE TOP AT 18 SEPTEMBER 2017 than it went down to the main support making a perfect double bottom.
Now its time for a trendline break and retest this week or eventually in the next week.
I am waiting for a strong sign like a 4h or daily pinbar after the retest to go in for 300-500 pip profit.
AUDUSD FOR THE BULLS AFTER THE PULLBACK?We have seen price rally bullish and we may see price continue after price finishes what i see as a retracement. I have marked the grey line at 50% fib retracement and we see price is also creating bullish divergence.
Grey line - Entry
Red line - SL
Green line - TP
Risk exposure - 1%
Risk to reward - 1:2
AUDUSD Multi Harmonic Pattern Analysis and StrategyWe see the formation of a harmonic bat pattern (purple) and the completion of an ab=cd pattern (blue) on the 4 hr chart. The completion of the ab=cd pattern signaled the end of the downward trend and the start of a move to the upside. Price action is now moving in a bat pattern and our strategy is to trade the 4th leg of the pattern. Price action has already stated confirming our bullish strategy.
AUDUSD Descending Channel Broken... AUDUSD has been travelling in a descending channel, however it has broken out to the upside. Another few confirmations of a long trade was the Higher High made and the major support zone price just tested and bounced from which caused it to breakout of the channel. Price will now come down to retest the channel, and then make its way up to 0.70100 region.
AUD/USD Technical Analysis: Touch 0.7100 Then Bearish Mood ... AUD/USD is currently trading at session highs above 0.7055, having neutralized the immediate bearish view with a 0.30 percent gain on Friday.
The bullish doji reversal confirmed on Friday has opened up upside towards at 0.7100. On the Other hand, If Chinese Manufacturing and Non-Manufacturing PMI drop major support 0.7000/0.6990 could test again. Audusd Sell level 0.7150 Area target 0.7010 Area. A break of 0.7075 resistance can lead to 0.7100 to the upside.However, if 0.7075 caps prices, it can lead to a decline to 0.7025 immediate support followed by 0.6990 level.
AUDUSD faces recovery threats though vulnerable medium term. On the upside, resistance lies at the 1.7100 level. A cut through here will turn attention to the 0.7150 level and then the 0.7200 level where a violation will set the stage for a retarget of the 0.7250 level. Support resides at the 0.7000 level where a breach will aim at the 0.6950 level. Below here will set the stage for a run at the 0.6900 level with a cut through here targeting further downside pressure towards the 0.6850 level.
News:
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Meanwhile, U.S. numbers impressed late last week, as the U.S. dollar made broad gains. Durable goods orders climbed 2.7%, crushing the estimate of 0.7%. Core durable goods orders gained 0.4%, marking a 9-month high. This was followed by an initial GDP release of 3.2% in Q1, well above the estimate of 2.2%. This was much stronger than Final GDP for Q4, which came in at 2.2%.
AUD/USD Fundamentals:
Monday (April 29)
8:30 (Feb. Data) – US Core PCE Price Index. Estimate 0.2%
8:30 US Core PCE Price Index. Estimate 0.1%
8:30 (Feb. Data) – US Personal Spending. Estimate 0.2%
8:30 US Personal Spending. Estimate 0.7%
8:30 US Personal Income. Estimate 0.4%
21:00 Chinese Manufacturing PMI. Estimate 50.7
21:30 Australian Private Sector Credit. Estimate 0.3%
Tuesday (April 30)
8:30 US Employment Cost Index. Estimate 0.7%
9:45 US Chicago PMI. Estimate 59.1
10:00 US CB Consumer Confidence. Estimate 126.2
18:30 Australian AIG Manufacturing Index
Daily SMA100 0.7123
Daily SMA200 0.718
Previous Weekly High 0.7155
Previous Weekly Low 0.6988
Previous Monthly High 0.7168
Previous Monthly Low 0.7002
Daily Fibonacci 38.2% 0.7039
Daily Fibonacci 61.8% 0.7025
Australian Dollar / U.S. Dollar AUDUSDMarket getting ready to change trend for a buy .
RSI signalling oversold area at 40 reading.
RSI reading 20-40 is in oversold area.
Wait for bottom area highlighted to get in on buy and enjoy your profits.
Market often forms a double bottom/top to signal trend reversal so look out for this.
Warning; trading comes with risks, trade safely and within reason. All charts to be used for guideline purposes.
AUSTRALIAN DOLLAR/U.S. DOLLAR to BUYMarket nearing a change in trend for a buy.
RSI signaling oversold area at 40.
RSI reading 20-40 is in the oversold area.
Wait for the bottom to get in on buy.
DISCLAIMER;
Trading carries risks, ideas are for guideline purposes only.
Do set stop losses when trading & be generous with how much room allowed for candle wicks.
There is also the possibility to hedge yourself, for more confident traders.
All comments and questions welcome, if curious about indicators I use then feel free to inquire.