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BTC AUDMonday 9th May 2022 The ascending channel is still in play In this current bear, this is the second time it has tapped the bottom of this channel, so it could be getting ready to spring board up But with all the uncertainty around at the moment, there could be some more downside, with wicks down to the next lower fib curve at $42,328. So long as closes are above the bottom of the channel, we should see some upside and a test back up tot he 33 day MA and the downward yellow dashed trend line. Approximately 24th June 2022 (24/06/2022 - 666) we could see a break up. The bottom of the ascending channel and the yellow dashed descending trend line converge here. Or this could be the sign of the break down further and final shake out of all the weak hands before the next grind up out of here, for the full parabolic move on the logarithmic growth curve we have been waiting for. All MA's are tipping further down MACD has some more downside to go before reversing Price and volume oscillator has just triggered and oversold green signal, and has hit the bottom purple band indicating a bottom is in. From here, we could see a bounce into the middle of the ascending channel where the 88 and 147 day MA's are at ~ $$56,087 to $64,816. Further downside could be located at the $33,689 TD Risk Level. Tuesday 10th May 2022 The ascending channel is still in play We have had a wick down to $43,607, but the body of the candle is still within the channel. But, we are still only on a TD 3 count, so still early days. If the channel gets broken, then next two Fibb channels are target buys.
B
by kryptologic
AUDUSD [Return To Fair Value Area]Good evening, it seems that the AUD is grinding against the Dollar and will inevitably return to the fair value area that it had maintained for some time before the bearish cycle that got cut off early. The reason for this is the increasing uncertainty about the degree in rate hikes for the Dollar, the increasing problem of inflation for the Dollar, and the risk on sentiments churning underneath the hood all of which contribute to the bullish scenario we have been seeing the AUD experience against the dollar. The technicals seem to indicate exhaustion, but in my opinion, this is simply accumulation prior to the big move in my humble opinion. The bulls seem to be holding the break of its prior bullish channel on the upside quite well, as they'd need a quite strong bullish move to establish the AUDUSD within proximity of its past fair value area. Now, this is only speculation and not financial advice... but I personally will be going long on the AUDUSD, will give an update on the outcome of the play. God bless, trade safe.
Long
by ExpandYourMind