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Stocks Will Stabilize When Aussie Finds The SupportHello traders and investors! Today we will talk about stocks and Aussie (AUDUSD) pair regarding risk-on/risk-off sentiment, so if you are wondering when stocks will be back to bullish mode, then keep an eye on Aussie. As you can see on the left correlation chart between SP500 and AUDUSD pair, always when Aussie finds the support, we see SP500 stabilization. Well, if we take a look on the right Aussie chart from Elliott Wave perspective, we can clearly see a corrective movement, ideally a complex (W)-(X)-(Y) decline. We are already tracking final wave (Y), but it has to be finished in three legs A-B-C and as you can see, wave C is still missing. So, if we are on the right path, then stocks might not be ready for a bull-run yet, until Aussie fully completes its corrective decline, where final leg may also occur as a spike down like back in March 2020 and January 2019. Trade well! If you like what we do, then please like and share our idea. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
by ew-forecast
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ridethepig | Australian Yields for the Yearly Close📌 @ridethepig AU02Y Market Commentary 18.12.2020 This position which arises after the telegraphed breakout from the 10Y and thus creates space for the front end. A typical manoeuvre for the AU and NZ yields: The analysis of the starting position shows us that the control now exists on the bid; because we know that it is the path of least resistance, so the rule is; when the market is strong we are buyers and when weak, we are sellers. The AUD which is being "flanked" from all sides (FED, RBNZ et al) now has commodity shortages entering into play to put the cherry on top. Remain bid AUD for as long as possible; maintain contact with commodities for this cycle. Thanks for keeping the feedback coming 👍 or 👎
TVC:AU02YLong
by ridethepig
AUDUSD eyeing its 4th consecutive day of gainsThe AUDUSD is up three consecutive days and is eyeing to make this four. Risk sentiment improving is on the side of the AUD, but some strong technical indicators will be watched by traders over the trading day. Support levels have lined up nicely with some psychologically levels, which may determine some short term trends in the pair. On the fundamental side, Australian inflation expectation figures are due tomorrow afternoon, but not before the Reserve Bank of Australia's Governor Philip Lowe speaks about the banks revised inflation outlook and how patient they will be to ensure a lasting recover.
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by BlackBull_Markets
$AUDUSD - Interesting...AUDUSD - Daily Pattern: Double Top/ Wedge If it confirms being a double top or Wedge it shouldn't extend above the 50 EMA = 0.72020 areas. If it extends above, I expect the bulls to gain in control towards TL down and anywhere above would go towards key resistance areas of 0.72800 areas and perhaps towards 200 EMA. However, if we don't extend higher than 50 EMA both patterns are validated and key target areas of support are: 0.70710 & 0.70135 Fundamentals: We had AUD CPI strong fundamental data out of Aussie. However, I expect the market to be choppy until FOMC . Trade safe. Disclaimer: Not Financial Advice.
by Trade_Journal