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Australia

Elliott move on AussieHere's an update going back from the move in my profile back in April. In simple form here's the higher Timeframe view; Then the 5 down giving a corrective move and fib levels back to the 1.618 New start on the smaller wave count; Starting with the count - not a fan of the 0-1 move here; Meaning it could still be in corrective mode if we near the low again. Extension sweet spot around 0.77720 level. Pullback 4 would be worked out later (but forecast wise) I would guess here. Thus giving a pattern up looking like this making it's 3rd wave completion. Which means we are likely about to start the 4th wave of the inner move up. Giving us a downside target here in this region. Advanced Get showing a weekly 4 up here and we are inside the 3rd wave up (agreeing with the concept) ============================================================================================= Which means my overall bias is long, but in the short term taking a short down an ABC on the smaller TF's and then long for the long run at the retracement low. ALL RELATED IDEAS ARE EDUCATIONAL HERE Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Short
by Mayfair_Ventures
11
Symmetrical Triangle Setup on AUDJPY with a Target of 83.50Trend Analysis The main view of this trade idea is on the 2-Hour Chart. The FX Cross AUDJPY appears to be in a symmetrical triangle setup with the support line along the higher lows of 77.87 and 78.80 while the resistance trend line is at 82 and 81.35. There appears to be a breakout in the resistance trend line. Expectations are for AUDJPY to rally towards 83.50. Failure of this move will be observed if AUDJPY declines towards 79.75. Technical Indicators AUDJPY had positive crossovers on its short (50-MA) medium (100-MA) and long (200-MA) fractal moving averages. The FX Cross is trading above these respective MAs. Technical indicators are also complementing the bullish nature of the current setup. The RSI is trading above 50 while the KST recently had a positive crossover. Recommendation The recommendation will be to go long at market, with a stop loss at 79.75 and a target of 83.50. This produces a risk/reward ratio of 1.35. Disclaimer The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes. Currently I have a position in AUDJPY.
Long
by Ceddy86
1
Two scenarios for AustraliaAccording to Fundamental News, there are two scenarios for the Australian dollar against the US dollar. With the release of US unemployment data, the value of the dollar plummeted, and the devaluation of the dollar caused an upward trend in other currency pairs, where the US dollar was on the right. Mr. Powell will begin his speech in a few minutes, which he says will either cause the dollar to depreciate further or the dollar to return to its uptrend. Given this, two scenarios can be considered for the Australian dollar: Scenario 1: The dollar will fall and the price chart will return to 0.726 and even higher by breaking the resistance. Scenario 2: The dollar rises and the price chart returns to its previous level of 0.7172
by mohamadrezaKhorsand