AUD/USD likely to fall!Hey tradomaniacs,
recent news have caused a huge stop-hunt at the topside of the range which is a strong indication of a move down.
If the current breakout continues and we see more momentum we can expect price to re-test the market-up support-zones.
Be cautious as we are going to see NFPs tomorrow, means price can stay choppy until then.
What do you think?
Audusdtrade
AudUsd- 0.7000-0.7050 is very strong ceiling nowLike all Usd pairs, AudUsd also has lost a lot of its value in the past 6 weeks( almost 10%).
After reaching a strong resistance above 0.76 at the beginning of April, the pair fell hard and the recovery from the beginning of May was also met with strong selling from 0.73 resistance.
Yesterday's test of 0.7+ was reversed hard leaving a very long-tailed Pin Bar on our daily chart and now the pair seems determined for further losses.
I'm strongly bearish as long as the price is under 0.7050 and I expect a drop to 0.67
Sell rallies can be a good strategy in AudUsd's case
AUDUSD Long on support LineAUDUSD has falling the past 2 days and came to a strong support area of Fibonacci retracement 0.38 level.
my bias is the pair to reverse to the next resistance line and we would see if the pair keeps moving up or it falls again from that level of strucure.
alternative scenario is that if the pair is able to break the support structure, it may lead to a selloff.
What is your prediction on AUDUSD?
AUDUSD Short into 0.74200Confluences
1. Monthly/Weekly resistance
2.Weekly is rejected it and probably it will close rejecting it due to lower timeframe confluences
3. Daily -Went above then come back below, so, there is a high probability that most buyers is not interested anymore
4. Daily - Potential head and shoulders
Entry point - would be on next shoulder.
Scaling opportunity might come when it breaks the strong support
AUDUSD top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
AUD/USD 4HR SELL SET UPHi TRADERS this is my trade set up for the AUD/USD
AUD/USD Is in resistance zone and I am expecting a rejection for a sell trade
This is my analysis only please trade with caution and risk management in place
clean crisp charts I hope it helps if you have any questions please private message me
please like comment and follow