AUD/ USD ! 10/31 ! Support H4 and recoveryAUD/USD trend forecast October 31, 2024
The Australian Dollar (AUD) dipped slightly after mixed economic data from Australia and China’s PMI release on Thursday. However, hawkish expectations for the Reserve Bank of Australia’s (RBA) policy outlook helped support the AUD/USD pair and limited its downside. In September, Australian Retail Sales rose by 0.1% month-over-month, below the 0.3% forecast and down from 0.7% in August. Quarterly, Retail Sales grew by 0.5% in Q3, recovering from a 0.3% drop in the previous quarter.
in the large frame - gold price will continue to fall back to strong support and have a larger recovery. In the context of not much AUD news at the end of the year, mainly important USD data
/// BUY AUD/USD : zone 0.64800 - 0.64500
SL: 0.64000
TP: 60 - 300 - 500 pips (0.69500)
Safe and profitable trading
Audusdlongsetup
AUDUSD - Look for Reversal Long (INTRADAY) 1:4!USD has reached a seven-week high following the NFP news, driving USD pairs downward. A correction could be expected before USD resumes its bullish momentum if conditions hold.
This presents a potential opportunity to capture some pips, especially with DVX reacting to the SBR Zone, similar to the current behavior in AUDUSD.
Disclaimer:
This is simply my personal technical analysis, and you're free to consider it as a reference or disregard it. No obligation! Emphasizing the importance of proper risk management—it can make a significant difference. Wishing you a successful and happy trading experience!
BUY AUDUSD looks to be retesting highs on daily RSI strong 1HR
AUDUSD has broken out of a consolidation zone on the 1HR timeframe with bullish RSI strength & the Daily chart looks bullish to be wanting to retest the highs on Daily.
Stop loss: Under the zone 1hr or a tighter Stop will be a better yielder.
AUD/USD Setup The AUD/USD pair has reached my Point of Interest (POI) and is showing a strong rejection, indicating a potential bullish swing. Gold has found support and is expected to rise, while the US Dollar has encountered resistance and is likely to begin a bearish trend.
1Hr TimeFrame
4Hr Timeframe
Aud/Usd trading setup | bullish bias price is trading near the bullish ob from 1h
where we have a bullish divergence
we are waiting for the confirmation
the condition
if, price form big bar candle over 0.66120 (closed above)
if the price has left bulling fvg where we can place our trade
we can target upto 0.66750
follow for more such ideas
AUDUSD Targeting Double Top ResistanceHi Traders!
AUDUSD looks bullish as it targets the double top resistance on the 4H chart.
Here are the details:
Since breaking and closing above the 20 EMA, the price action has been aggressively bullish, and the market is now in an ascending price channel and is near the double top resistance at 0.65430.
The plan here is to buy market dips at retracement levels to target 0.65430.
Preferred Direction: Buy
Resistance: 0.65430
Support 1: 0.64804
Support 2: 0.64428
Technical Indicators: 20 EMA
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BluetonaFX
AUDUSD - W1 strong support approaching Analyzing the weekly chart of AUDUSD, our outlook anticipates a price decline toward the lower boundary of the channel, which also coincides with the 88.6% Fibonacci retracement level. We expect the Australian dollar (AUD) to establish strong support at the 0.62750 level.
Following this expected support, our projection foresees a robust upward movement toward the 0.66700 level. Our initial stop-loss will be set at 0.61700, positioned just below the previous low recorded in October 2022. This stop-loss level is approximately 1.5% below our anticipated entry point. Importantly, this trade maintains a favorable risk-to-reward ratio of 1:4.
Please remember that trading carries inherent risks, and market conditions can change swiftly. This analysis is for informational purposes only and should not be considered as financial advice. Always exercise prudent risk management and consider various factors when making trading decisions.
AUDUSD Bullish Pennant BreakoutThe pair is already in an uptrend on higher time frames. We are expecting further upside which is signalled by the breakout of the bullish pennant pattern. We can also see the formation of a new high and a breakout of a key level which further supports our directional basis. Entry on retest of the key level.
AUDUSD might pumping after correctionSeveral weeks ago I expect it will going down retrace to price 64¢ but it didn't, it was pumping from 65¢ and broke the strong resistance swing high at 68¢, after that correction to strong support at 66¢ before it pumping hard again to test that 69¢, but unfortunately not yet touched. Usually when the price doesn't touched particular strong round number (almost touch 1-3 pips), once again when it comes to that price, it will break the price like it was nothing (long bullish/bearish candle close above/below the strong price). Actualy I had sell limit at 69¢ several weeks ago but the price didn't take my sell order (missed less than 2 pips). Now the market structure is clear, bull domination. Usually price will spike to 60-70 pips before it going in favor (downward). I expect will correction to 67¢ for buy opportunity to test the new resistance at 69¢ (200 pips). It was consolidating 100 pips between 66¢ (minor support) and 67¢ (minor resistance) for 10 days before it pumping hard broke the 67¢ after USD high impact news released (CPI data) and this mean this (67¢) is strong demand on daily or weekly chart (spot the move without change to daily or weekly chart). I'll looking the price to build minor structure on smaller timeframe such as H1 before take consideration to sell for corrective moves.
What do you guys think?
AUDUSD - CURRENT SITUATION AND FUNDA & TECHNICAL BIAS#AUDUSD
- Currently the MARKET SENTIMENT for AUD is slightly UP SIDE according to the MARKET SENTIMENT. Even now, if RISK ON for AUDUSD happens in the near future, it can definitely go UP. Therefore, AUDUSD currently has an UPSIDE BIAS.
Several RBA HAWKISH COMMENTS have been released. Also USD has become STRONG in short term with FED SENTIMENT. It will most likely be temporary. Therefore, STOCKS and COMMODITIES MARKETS are going down quite a bit. It is heavily influenced by the Australian dollar. And AUSTRALIA INFLATION DATA was very POSITIVE. Due to this, the RBA made a RATE HIKE.
- It is definitely possible to break the AUDUSD STRUCTURE and go up to the higher RESISTANCE LEVEL. Accordingly, AUDUSD can go up to the level of 0.6884. After that, if MARKET RISK OFF, AUDUSD can SELL to AUDUSD 0.6500 LEVEL if MARKET SENTIMENT changes and STOCKS and COMMODITIES start going down. If the dollar becomes strong, you can sell until the level of 0.6552. For that, the MARKET STRUCTURE should be BREAK. And RISK should be OFF.
AUDUSD - CURRENT SITUATION AND FUNDA & TECHNICAL BIAS#AUDUSD
- Currently the MARKET SENTIMENT for AUD is slightly UP SIDE according to the MARKET SENTIMENT. Even now, if RISK ON for AUDUSD happens in the near future, it can definitely go UP. Therefore, AUDUSD currently has an UPSIDE BIAS.
Several RBA HAWKISH COMMENTS have been released. Also USD has become STRONG in short term with FED SENTIMENT. It will most likely be temporary. Therefore, STOCKS and COMMODITIES MARKETS are going down quite a bit. It is heavily influenced by the Australian dollar. And AUSTRALIA INFLATION DATA was very POSITIVE. Due to this, the RBA made a RATE HIKE.
- It is definitely possible to break the AUDUSD STRUCTURE and go up to the higher RESISTANCE LEVEL. Accordingly, AUDUSD can go up to the 0.7127 level. After that, if the MARKET RISK OFF, AUDUSD can SELL to the AUDUSD 0.6642 LEVEL if the MARKET SENTIMENT changes and STOCKS and COMMODITIES start going down. If the dollar becomes strong, you can sell until the level of 0.6552. For that, the MARKET STRUCTURE should be BREAK. And RISK should be OFF.
AUDUSD LongOur AUDUSD Analysis is still valid,
We are currently waiting for the market to drift lower to hit our entry point(s)
Our POI (Point of Interest) are:
Buy @ 0.66065 and 0.65920
TP1 0.67195
TP2 0.68250
TP3 0.69750
TP4 - Leave something running if price action is favorable.
There are many fundamentals which play in favor of AUD strenght.
Lets see how it plays out!
As always, we are open for discussions so don't hesitate to reach out to us!