AUDUSD is marginally bearish on its 1D technical outlook (RSI = 40.176, MACD = -0.001, ADX = 34.265) as it entered a Channel Down similar to those of August - October 2023 and April - May 2023. That is why we are expecting a bullish reveral the closer we get to the 1.236 Fibonacci extension. As long as the 1D RSI doesn't break into the oversold zone (<30.000), we...
I see 2 bullish price action patterns on AUDUSD. On a daily time frame, the price broke and closed above a resistance line of a falling wedge pattern. On a 1h time frame, the market violated a neckline of an inverted head and shoulders pattern. I think that the pair may keep growing. Next resistance - 0.6588 ❤️Please, support my work with like, thank you!❤️
AUDUSD is trading inside a Channel Down pattern for the majority of 2024 so far and the neutral 1D technical outlook (RSI = 48.127, MACD = -0.003, ADX = 26.175) suggests that this is a potential sell entry. The price is below the 1D MA50 and exactly on the 1D MA200, where a rejection, validates the preservation of the bearish trend. If the price stays under it, we...
AUDUSD is almost neutral on the 1D timeframe (RSI = 55.106, MACD = 0.003, ADX = 28.280) as it has started to decline again after the rejection on the 0.618 Fibonacci level near the top of the twelve month Channel Down. The 1D RSI got overbought at the top just like on the June 15th LH (also on the 0.618 Fibonacci), which was the previous most optimal short...
AUDUSD rebounded late last week and reached again the 1D MA50 on neutral 1D technicals (RSI = 46.104, MACD = -0.001, ADX = 23.912). This is the first rebound after the June 16th High, which was on an overbought 1D RSI and formed a Lower High inside the wide Channel Down pattern. The neutral technicals indicate that this is potentially the ideal short entry on an...
AUDUSD is on a strong 2 day sell streak below both the 1D MA50 and 1D MA200 but is approaching the bottom/ LL trendline of the six month Channel Down. The 1D time frame is technically bearish (RSI = 36.760, MACD = -0.003, ADX = 28.005) and the closer the 1D RSi gets to being oversold (30.000) the stronger the buy signal on the long term becomes. As long as the 1D...
Hello 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.
Hello 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.
Hey Traders, in this week we are monitoring AUDUSD for a selling opportunity around 0.747 Zone, once we will receive any bearish confirmation the trade will be executed. Trade Safe and use proper risk management. Joe.
I'm still awaiting for this pair and place entry after retest.
I am looking on this pair 2 touches to the down side.
Here is another Forex Trading Snack. To go along with my stock risk on or off trading view, here is my favorite Forex pair that matches closely to my stock trading view. Of corse the two instruments trade inversely to each other. My main strategy for this weeks market open is to follow the recent up channel the pair has been trading in. The downside has been...