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Aussie

AUDUSD H4 | Potential bullish reversal?AUDUSD is falling towards a key overlap support and potentially reverse from this level. Price could hit our buy entry at 0.66063 and bounce up from here. Our stop loss will be at 0.65807 which is an overlap support. The take profit level will be at 0.66392 which is an overlap resistance. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Long
by Rockqet
✨ NEW: AUDUSD ✨ Curve Analysis (3W) ✨SLO @ 0.7130 ⏳ TP4 @ 0.7115 TP3 @ 0.7033 TP2 @ 0.6925 TP1 @ 0.6750 BSO @ 0.6650 📈 BLO @ 0.6585 ADDITIONAL INFO: * The pair is currently trading below the 200-day moving average, which is a bearish signal. * The RSI is below 50, which is also a bearish signal. * The MACD is crossing below the signal line, which is another bearish signal. Based on these technical indicators, the outlook for AUDUSD is bearish and the pair could continue to decline and test the support level at 0.6565. However, Price Action is currently reacting to a Major Support Level and heading upward. If the pair can break above the resistance level at 0.6783, the outlook would turn to bullish momentum. Here are some of the factors that could affect the price of AUDUSD in the near future: * The outcome of the upcoming US Federal Reserve meeting. * The release of US economic data, such as GDP and unemployment figures. * The development of the Russia-Ukraine war. It is important to remember that technical analysis is only one tool that can be used to make trading decisions. It is important to also consider fundamental factors, such as economic data and political events, when making trading decisions.
Long
by ProfessorCEWard
EURAUD NOT convincing upward momentum We are still in short from Friday on this pair, the reason for not exiting the trade so far is failed breakout of the downtrend, all attempts failed as we see. The sole purpose is to hit the stop loss of many traders. Every deal we enter has an exit point and an entry point in our records. The exit point is a close above a supply area or a candle close below a demand area. This is how large corporations trade. And that's the right way.
Short
by lacasafxfamily
2
AUD/USD -3/5/2023-• Despite the hawkish surprise by the RBA yesterday, raising interest rates unexpectedly we are experiencing a fading momentum of the bullish reaction • Reason behind this might be lack of conviction within the buyers • US Dollar strength is back in the markets amid renewed fears amid banking woes and recession adding to that pricing of a continued Federal Reserve tightening policy • Technically, picture doesn't seem really bright on the daily chart for the following reasons: 1- A potential head and shoulders pattern can be spotted and drawn on the chart 2 - 20 SMA is acting as a resistance with price unable to cross and close above it 3- The up trend support line which has been broken back in March has been re-tested from below several times with continuous rejection 4- Keep in mind that whether H&S pattern or any other, they have chance of failure and are subjective (other traders might see an inverse H&S on the same chart) 5- 0.6570 is the immediate strong support and longs can still be valid above that level with stops below it 6- After hitting a daily high of 0.67 following RBA surprise hike, we have seen some profit taking throughout the day and this might have happened due to the FED rate decision tomorrow and traders getting out of their positions while waiting for the outcome Traders, if you like this idea please comment and like ✅ Here to answer all your questions, Good luck
by RamziAbouAbdallah-CMT
EUR/AUD in focus for RBA meeting and eurozone CPIWith the RBA due to meet and eurozone CPI data released tonight, EUR/AUD has caught our eye. It remains within a strong uptrend on the daily chart, although a bearish-outside day ahs slammed prices down to a 4-day low. But we’re keen on long opportunities if prices can remain above 1.6400, given the levels of technical support nearby including the 2021 high, 10/20day EMA’s and monthly pivot point. The initial target is 1.6800, a break above which brings the 1.7000 handle into focus.
Long
by CityIndex
AUDCAD LongsI'm liking AUDCAD longs for a few reasons. Technical wise we have broken structure and we have a fib at the 61.8 from the swing high to swing low.. Looking at everything from a fundamental standpoint, there is a lot of optimism around the Aussie gaining strength from China reopenings, as well as a Hawkish RBA. Canada on the other hand has decided to pause rates and might continue to do so if the BoC see that inflation is starting to decelerate as well. This trade might take some time as most aussie pairs are slower but overall I like this trade.
Long
by EricDowdell