AudUsd- Back to 0.7?Is almost a year now since AudUsd has been trading in a downtrend and in this period, the pair has dropped exactly 1k pips from top to bottom.
From December's low of 0.7, Aussie corrected to the upside, but the rise is contained in a rising wedge, giving us an indication that the resumption to the downtrend is probable.
The trend line support of this pattern is now broken and AudUsd can revisit 0.7 support in the next trading days/weeks.
Sell rallies is my strategy for this pair and a daily close above the previous high would negate this scenario
Audusdsell
Has the Fed Taper/Rate Hike been priced in? AUDUSDRisk on assets across the board has been trading with a bearish tone since Q4 2021 and the effects of it continues to linger in the market. The AUDUSD reflects this lingering fear in the markets trading cautiously within a range since December. We're likely to see this continue until there's some certainty around the fed's taper and rate hike plans for Q1 2022. In the meantime, the status quo remains and the pair will continue to range trade with a slight bearish overtone. If we see price hit 0.73 in the next couple of weeks, it will be a perfect short for us.
AUDUSD short setupFOMC meeting result make the fed looking hawkish at this moment, so this condition will support the technical analysis setup.
From the technical view, the price can't break through the kumo cloud multiple times, even though the kijun sen (blue line) is below the tenkan sen (red line) on a bearish kumo cloud (the ideal position is the kijun above the tenkan if bearish momentum), but i thing this anomaly supported by the fundamental of fed's hawkish statement. So then I'm confident with this 1:2 risk ratio short setup for AUDUSD.
What do you think guys?
AUD/USD should FALL soon!Hey tradomaniacs,
AUD/USD is currently correcting within a rising-wedge which usually results in a continuation of the primary trend soon.
previous impulse to the downside has shown great momentum and I expect another attempt to break the support-zone as soon as the tracement is done.
Let`s see =)
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Peace and good trades
Irasor
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AUDUSD Bearish!The pair has resumed the move lower, currently we should break below the bottom of the trendline drawn connecting the lows of December 3rd & 20th (2021). then we should see a minor bounce to about 0.72500, which should then continue the trend lower to 0.6700 as forecasted in our analysis on the 29 Nov 2021.
The pair reversed just one pip short of our projected bluebox shown on our 24ht December 2021 analysis, but this could haven the fact that it ended the move up with a 5th wave as a diagonal rather than an impulse.
Have Sellers Taken Back Control? Before the market opened I analyzed a short term buying opportunity on AUDUSD. However, this morning , a lower low was created at 0.72435 on the 4-hour timeframe.
This signals an early sign of a reversal on this specific timeframe. I have to change my buy bias to a sell bias. Today, I will be observing if price can stay below 0.72775. If so, I will sell from my estimation zone 0.72670 back down to 0.72396 only if price can retrace to my zone first and price action gives me permission to enter the trade.
Previous analysis is linked.
AUDUSD: Supply TrapMany traders would have positioned themselves in sells too early when the equal highs formed, forgetting that the major supply was sitting above them.
Now that we have had the liquidity sweep, it may be time to see the bears take control of the market.
Where do you think the sells will take the price?
AUDUSD -Bearish Cycle!AUDUSD the pair is almost ready for downside, we are now completing the last of the 3 wave (ABC in the green minuette degree) corrective move we called for at the end of November 2021 in 5 waves. We had expected the pair to bounce to about 0.7300 which from the looks of it we should reach. As long as we don't go beyond the Bluebox (price level 0.7400) then we should see a reversal within the Bluebox for downside to about 0.6700.
Look for Sell opportunities at the bluebox!