sell @AUDUSD, now.The AUD/USD declined on Thursday and fell below 0.6500. However, despite this correction, the short-term outlook still favors the upside as the Greenback remains under pressure due to weaker US labor market data and declining US Treasury yields.
Data from Australia showed that employment rose by 55,000 in October, surpassing the consensus estimate of 20,000 and significantly higher than the revised figure of 7,800 from the previous month (originally reported as 6,700). Most of the job gains were in part-time positions. The Unemployment Rate rose from 3.6% to 3.7% as expected.
The Melbourne Institute reported a slight increase in the expected one-year inflation rate to 4.9% in November, up from 4.8% in October. Despite the solid employment data, indicating a relatively tight labor market, and the rise in inflation expectations, the AUD/USD dropped during the Asian session as the US Dollar recovered ground.
In the US, most economic data came in below expectations. Continuing Jobless Claims reached the highest since 2022, and Initial Claims rose to 231,000, the highest level in nearly three months. Industrial Production declined by 0.6% in October, exceeding the modest 0.3% contraction expected. On the positive side, the Philadelphia Fed Manufacturing Survey Index rose from -9 to -5.9, and the Kansas Fed Manufacturing Activity index recovered from -8 to -3 in November.
The US Dollar weakened after the data, but the decline was not significant, and it quickly reversed back into positive territory as market sentiment deteriorated.
Ausdusdshort
Daily Wave Rider - SELL AUDUSDAUDUSD
Channel: RED
WK Pivot: RED
AOB: WS1
CON: SBB
SELL Stop: 0.6366
Stop Loss: 0.6417
TP01: 0.6315
TP02: 0.6213
DWR presents as a sell setup on 11SEP, with Channel and Pivot are red bouncing off Weekly support 1.
However, trade is not taken/considered as it differs from our Market Analysis Bias.
SPX500: Up
DXY: Down
OIL: Up
GOLD: Up
Reference to our WK37 analysis, we are anticipating a "Risk-On" sentiments thus will BUY AUD/NZD.
AUDUSD to find resistance at previous swing highs?AUDUSD - 24h expiry
We are trading at overbought extremes.
Indecisive price action has resulted in sideways congestion on the intraday chart.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower.
Previous resistance located at 0.6793.
The hourly chart technicals suggests further upside before the downtrend returns.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
We look to Sell at 0.6786 (stop at 0.6816)
Our profit targets will be 0.6716 and 0.6706
Resistance: 0.6925 / 0.7160 / 0.7400
Support: 0.6665 / 0.6550 / 0.6380
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
#AUDUSD-SETUP MUST TO TAKE!!Dear Traders, Hope you all are doing great, we have AUDUSD today, found an area where price is most likely to be rejected, DXY expected to drop a bit in order for price to do small pullback. We have also highlighted the area of entry, and when to close with stop loss.
GOOD LUCK AND TRADE SAFE!!
AUDUSD I start looking for CAnd here is one more
wavers way to look at current AUDUSD
( maybe some strict elliotwavers should have some questions )
I suppose, that many "advanced pattern wavers"
will try to short "Gartley level .786"
so why not try to catch with them C wave from the top ?
I'll personally try with very tight stop loss ( around 0.7606 )
it is a risky trade but we are in a risky busiiness, no ?
:)
be aware AUDUSD mooves very fast
Do not miss this trade
AUDUSD might be attractive for bearsHi everyone!
I would really appreciate any comments or thoughts on this analysis, what are you missing here, if there is anything unclear. Your time is greatly appreciated! Thank you.
Bullish movement has stopped at the cluster of Resistance zone - Pivot Points and 382 Fibonacchi retracement. This might be a place where profit is taken or bears will be selling and pushing price down.
Entry at current price - Stop Loss 30 pips away - Target 60 pips