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Audusdshort

Is 0.68445 the New Resistance?What an eventful week we've just had. The AUDUSD pair did the three things we were expecting (anticipating) in the previous ideas. 1. Price closed above the 0.67700 level, finally. 2. Price tapped into that 0.68000 level and barely closed above it. 3. Price dropped massively on the second daily tap on that 0.68000 level and that can be seen on the hourly time-frame. We can thank the USD Non-Farm Employment Change and Unemployment Rate news release for that. Now, with these three points, what can we expect this coming week? Well, as the title of the idea entails - is 0.68445 the new resistance? I mean that being the case would be a great start. We already have enough evidence (confluences) that clearly show that price wants to drop lower. However, we need to get a resistance (supply level) for that to happen. By that I mean we want to see price continuing below the 0.68445 level; And when that happens, we will look for more setups to go short on the hourly time-frame. We still have to wait for the market to tell us when it wants to go and so, for now, we will just enjoy the weekend. Until next time, let me hear your thoughts and views below.
by MSQUAREDN
AUDUSD - Daily Trade Idea - 30-Nov-22AUDUSD (SHORT)- If all the resistance holds in place. If we see the Resistance broken out then we could see the shift in the trend. I marked the TP 1 (20 pips), TP 2 (50 pips) , TP 3 (100 pips) and EXIT (SL - 60 pips) on the chart. (THIS IDEAS VALID NEXT 24 HOURS) Please note this is only the Trade Idea base on S & R and not a signal, the market can react differently during the session due to News Impact and only enter if we have the final confirmation for entry. - Rejection Candle Formation - Red Candle after the Green Candle. - Stochastic - Overbought Area - Timing of entry Prior / during UK / US Market Session.
Short
by onelinkFX
1
AUDUSD H1: Bearish outlook seen, further downside below 0.6680On the H1 time frame, prices are facing bearish pressure from the resistance at 0.6680, in line with the descending channel, 23.6% Fibonacci retracement and M15 supply zone. A pullback to the resistance zone at 0.6680 presents an opportunity to play the drop to the next support target at 0.6630, which coincides with the graphical resistance-turned-support level and Fibonacci confluence levels. Ichimoku cloud is showing signs of bearish pressure as well, supporting the bearish bias.
Short
by T3-Consultancy
1
AUDUSD Analysis Bearish Opportunity-Price found support at the monthly demand zone and formed a double bottom. -Price then made a series of Highs and Lows as it began it's bullish push -Price then met resistance and closed Friday candle as a doji, hinting at bullish exhaustion. -The large bearish candle of today closing further confirm that price is ready to make a move to the downside. -Price also formed a double top pattern, which is a bearish reversal candlestick pattern. -I am expecting price to make a retracement to the 50.0 Fib level, which also will test the previous high. -A test of this previous high is also a test of the neckline of the previous double bottom. -A retest and respect of the previous high 50.0-61.8 fib level will serve as a higher low.
Short
by NoCeilingsTrading
1
AUDUSD - Daily Trade Idea - 29-Nov-22AUDUSD (SHORT)- If all the resistance holds in place. If we see the Resistance broken out then we could see the shift in the trend. I marked the TP 1 (20 pips), TP 2 (50 pips) , TP 3 (100 pips) and EXIT (SL - 60 pips) on the chart. (THIS IDEAS VALID NEXT 24 HOURS) Please note this is only the Trade Idea base on S & R and not a signal, the market can react differently during the session due to News Impact and only enter if we have the final confirmation for entry. - Rejection Candle Formation - Red Candle after the Green Candle. - Stochastic - Overbought Area - Timing of entry Prior / during UK / US Market Session.
Short
by onelinkFX
AUDUSD to Distribute Shorts?Howdy, howdy! Moving on from this week’s price action, we can clearly see that price has found support at 0.65848 and not the 0.65777 level we anticipated earlier this week (pretty close 😊). Anyway, what can we expect this coming week? 1. Well, for one, we still haven’t closed above the 0.67700 level on the daily time-frame (we have retested it again though) and honestly, I don’t think we have to close above it this coming week. For the coming week a touch at the 0.68000 level is enough for us to see some reversal signs. 2. Price looks to be creating some Wyckoff Distribution Schematics on the hourly time-frame and we are currently expecting the UT of Phase B. 3. Some short-term buys at the current SOW level can be expected. And yeah, that's pretty much it.
by MSQUAREDN
6
AUDUSD H1: Bearish outlook seen, further downside below 0.6750On the H1 time frame, prices are facing bearish pressure from the resistance at 0.6750, in line with the H4 supply zone, graphical resistance zone and 78.6% Fibonacci retracement. A pullback to the resistance zone at 0.6750 presents an opportunity to play the drop to the next support target at 0.6670, which coincides with the graphical resistance-turned-support level and Fibonacci confluence levels. Stochastic is testing resistance at 94.50 as well where we could see a reversal below this level.
Short
by T3-Consultancy