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AUDUSD Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of AUDUSD (Monthly, Weekly, Daily for direction and 4H for entry) for Week 44 - 26 Oct M > Price faced rejection at monthly resistance and dropped for correction, we expect correction to be near 0.382 Fib level on last bullish impulse. We saw a W formation and expected price to drop till the neck which price did to complete the formation, also hitting Target 1 as per our last analysis. Neck of W is on way to 0.382 level. W > Price dropped till 0.618 Fib level on weekly bullish impulse for correction. We saw M formation and price moved up to test its neck and complete the formation. Price in fact moved beyond the neck. D > Price dropped last week to test neck of W formation again and faced rejection. It created double bottom before moving upwards. On its way down price created an M formation and has completed it with last rejection to the upside. Price is currently on its way up to test daily supply zone, rejection at this level to the downside will create a H & S formation. As per COT AUD saw closure of more Short than Long positions, improving net positions. AXY weakened during the said week but gained some lost position last week. 4H> After rejection price is moving up creating HH and HL. Price is approaching daily supply zone and we expect price to move up before reversing for downward move. Pair Correlation > AUDUSD has positive correlation with AUDJPY, NZDJPY, AUDCAD, AUDCHF and Silver and negative correlation with EURAUD. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions. Thank You AP17FX
Short
by AP17FX
2
AUDUSD-Daily (Bear is ruling the AUDUSD) Next levels to watchAUDUSD After reaching the year high around 0.74000 from yearly low around 0.56000 which is a 1800 pips rally. At 0.74000 it got some rejection and felled towards 0.70000 level which is a .786 Fibonacci retracement level and September 2020 low. From this point AUDUSD bounced back towards 0.72000 as a short term bullish correction. Currently the AUDUSD was driven by the risk sentiment and political developments around the world. In daily chart yesterday its leaves a gravestone doji which is a clear sign of continuation of the bearish trend and today Reserve bank of Australia governor Mr. Lowe hinted that RBA is ready to act to easy further and cut the rates even below zero to maintain the economy afloat. The unemployment rate was slowly increasing and the local economic development is facing some hurdles to recover from the pandemic shock. The recent political development with People republic of china will also weigh this Proxy pair Australia is heavily rely on the China for Both the imports and exports In recent days The Australian government is facing series of import bans. As the vaccine development facing some minor issues such as serious side effects on the candidates who are tested with pre approved vaccines has poured some cold water on the virus infection curtailment Around the world many countries are implementing the second, third tier lock down measures to contain the virus infection. These fundamental factors will drive the AUDUSD. And the Economic stimulus talks in the USA will also weigh on AUDUSD as the hope for stimulus talks worth around 1.8 Trillion was slowly waning which is will boost the strength of USD in turn AUDUSD will fall further .786 Fibonacci will act as next resistance for the Bearish trend. If this level was broken then the downside swing target would be 0.67000 which is comes around .618 Fibonacci retracement level and March 2020 High On Elliot wave theory the second wave was completed and the third wave was underway. I am expecting the 3rd will end at .618 Fibonacci level The price is well below the Point of control on visible volume profile range. Today daily candle close will decide the next upcoming movement of AUDUSD if the price closed below or at current level then it will leave a strong bearish engulfing candle Currently 100 Exponential moving average is holding this pair against further drop and the current price is well below the 20,50 Exponential moving averages. If the 100 EMA was broken then 200 EMA will act as major resistance for the bear. Relative strength index is well below the 50 And pointing towards south. MACD is about to turn red and going to cross the middle line 💌 Leave your valuable comments and suggestions related to this idea in the comment section. Thanks for your time. Good day guys 💝
by forexorbit
AUDUSD SWING TRADE 11-OCTOBER-2020Good day friends. Give us a thumbs up if you like our idea. Follow my profile to get new ideas and trade setups everyday AUDUSD-Technical analysis ⚡️The price is well above the .50 Fibonacci retracement level ⚡️Previous double top formation will act as support for the BULL ⚡️.072762 will act as middle line resistance ⚡️Swing target would be around 0.73463 ⚡️Price reach upper side of the Bollinger bands ⚡️200 Exponential moving average is acting as decent support for the BULL ⚡️Ichimoku cloud is still shows bullish trend and the Price is above the cloud ⚡️RSI has reached the over bought area around 30 we can expect short term downward correction ⚡️Upper side trend line as acting as major barrier for the bull SWING TRADE -AUDUSD BUY @ 0.72200 Take profit @ 0.73400 Stop lose @ 0.71360 120 Pips target Don't risk more than 1% of your capital
Long
by forexorbit
1
AUDUSD Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of AUDUSD (Monthly, Weekly, Daily for direction and 4H for entry) for Week 42 - 12 Oct M > Price faced rejection at monthly resistance and has dropped for correction which we expect to be near 0.382 Fib level on last bullish impulse. We saw W formation and expected price to drop till the neck which price did and completed the formation. Neck of W is on way to 0.382 level. W > Price dropped till 0.618 Fib level on weekly bullish impulse for correction. We saw M formation and price moved up to test the neck and complete formation. Price has in fact moved beyond the neck. D > Price has broken resistance created by the neck and is now approaching weekly supply zone/ resistance level, this level can test and pause the price but we do not see loss of momentum on daily candle as of now. As per COT AUD saw addition of major Long and Short positions, increasing net positions. AXY gained strength during the said week, it improved its position last week. 4H> Price created double top at neck of W formation, dropped and then broke through the level. For Long Term we continue to have bearish trend hence we will monitor price action near supply zone for reversal. Recommendation > Bearish target is for swing and position traders only. For all intraday traders focus only towards Target 1. As per Daily chart we see bullish trend, however as per Weekly chart price is making LH and LL, our bearish target will get invalidated if price breaks weekly LH at supply zone. Pair Correlation > AUDUSD has positive correlation with AUDJPY, NZDUSD, AUDCAD, AUDCHF, NZDJPY and EURUSD and negative correlation with USDCAD, EURAUD and GBPAUD. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section you can share your view and ask questions. Thank You AP17FX
Short
by AP17FX
AUDUSD - Outlook 3 October 2020 - Are the bears ready?Hi all traders, This is a video analysis on AUDUSD. Are the bears ready to takeover, click into the video analysis and you see those levels as explained in the video. Take note of those levels as it would be important for you to have a look and trade safely for this pair. Cheers and thank you! ***Follow me on tradingview**** ****Like and share with all your friends for this video analysis**** Have a nice day all traders!
by FxTradingWarrior
3
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 Please give us a like if you found useful. And follow our profile
Short
by forexorbit