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Aussiedollar

Aussie Ichimoku Long SetupThis pair had an attempted kumo breakout and bullish kumo twist before falling back down into the kumo. I am looking for a kumo breakout to confirm an entry for a chance to get long. If we can get that breakout and jump up past our previous resistance we saw last week then this will be one to hold for the week. I've drawn out some partial take profit levels on the way to my overall target. If we fail to get that kumo breakout or if our bullish confirmations change, this setup may become invalidated.
Long
by The808Trader
Australian Dollar S T R E T C H E D Interesting price action today - as the US Dollar ( DXY ) was rising marginally so was the Aussie Dollar - while the Euro , CAD, British Pound all moved lower. After a month long accumulation - The Aussie broke out rising more than a cent - on the last Friday of August, and continued to move after hours. Today's price appears to be a stop run, before the market turns and go the other direction. This is a situation where you want to watch their hips not their eyes. We are outside recent value - this trade idea is that we return to value clean up the weak price structure. The second target is to the other side of value and clean more of this price structure. The US Dollar is skipping at the bottom of a channel - but its holding. Fund managers are adding to their net long positions - all pointing to lower Aussie Dollar prices. BLOOMBERG: 8-28-2020 EQUITY FUND MANAGERS RAISE S&P 500 CME NET LONG POSITION BY 9,213 CONTRACTS TO 144,877 IN WEEK TO AUG 25 FOR USD Speculators are short USD.
CME:6A1!
by Maximilianned
AUSUSD (Y20.P4.E1).Short term TA.Hi All, Looking at the Aussie dollar against the USD, we can see on the daily that we have downward pressure along with the bearish divergence playing out. I have 2 levels as a point of interest. The 0.5 fib retracement and 0.618 fib as one can see that this has confluence with the wedge breakout target, and along with the daily EMA levels. USD (DXY) is currently going sideways and potentially breaking the near resistance as the chart below. This is no surprise as the stock markets and asia markets \ Aussie stock market dropped a few % yesterday. Lets see how things are in the coming days and weeks turn out. Cheers, S.SAri. MACRO structure USD index
Long
by ssari
10
GBPAUD - Bearish Confluences Multiple bearish confluences are presented on GBPAUD. First and foremost from a fundamental perspective, we observed an extremely bearish Pound over the course of Monday's trading sessions. Whether the pound's weakness will continue I am uncertain, but in the short term it appears the likely direction given the current state of the Brexit/Coronavirus affairs. From a technical perspective, at CMP we are resisted by the 200 EMA in line with the descending trendline. The highlighted grey zone illustrates an area of previous support-turned-resistance which price has remained below since. Price is currently resting on a support level from July however should this break we may see a drop to the 2020 low at around the 1.75 psychological. I will be assessing this pair during Tuesday's London session for a potential entry.
Short
by MMQ_FX
EURAUD Superior Reward to Risk RatioHello Fellow Trader! EURAUD Superior Reward to Risk Ratio Daily Chart: EURAUD has crossed below a weekly trend line set back from February 2017 and forming a bearish 5 wave wedge (ABCDE). To complete the wedge pattern, the final wave E is now in play for upside before the next fall. The open today MUST hold the bullish engulfing 1 hour range for confirmation to enter. Key Points: - Price holding above the 50 EMA - Price to reclaim 200 EMA - Bullish Engulfing Pattern - Price holding Fibonacci 50% retracement level - Price zone of Fibonacci Extension 100%-123.6% (ABC) - RSI could break trend and range simultaneously for momentum Key Levels: Support – 1.6240, 1.62104 Resistance – 200 EMA, 1.6300, 1.63282, 1.6400, 1.6500 Entry Zone: Optimal entry provides the greatest reward to risk ratio while supporting entry is a zone for reversal signals. Optimal Entry – 1.62400 Supporting Entry – 1.62500 Candle Reversals for entry - Bullish Engulfing The Risk: As traders, it is your job to mitigate the risk and only trade structures that provide high probability and great reward to risk ratios. If you are not comfortable with defined exit levels, experiment with Moving Averages to help set solid exit rules to protect your capital. IF: Price breaks below 1.6200 – this would suggest the structure is not in our favour and would be wise to reduce exposure or close the trade until a solid signal gives us reasons to re-enter. Reward / Reward Targets: Optimal Entry 1.62400 – Target 1 1.63282 = 2.3x Reward to Risk Optimal Entry 1.62400 – Target 2 1.6400 = 4x Reward to Risk Optimal Entry 1.62400 – Target 3 1.6500 = 6.5x Reward to Risk Supporting Entry 1.62500 – Target 1 1.63282 = 1.5 Reward to Risk Supporting Entry 1.62500 – Target 2 1.6400 = 3x Reward to Risk Supporting Entry 1.62500 – Target 2 1.6500 = 5x Reward to Risk
Long
by tradetheday
1