AUDUSD Possible SELL TOWARDS 0.73250 Looking for possible sells towards 0.73250 from 0.74150. Daily zone which was once support will be used as resistance on H4. Look out for sels in that area.
Australiandollar
Australian Dollar at Risk as AUD/JPY Enters Downtrend?The Australian Dollar may be vulnerable to the Japanese Yen following a couple of bearish technical developments. This follows a rejection of the 86.253 - 85.909 resistance zone.
AUD/JPY recently confirmed a breakout under the 23.6% Fibonacci Retracement at 84.50 on the 4-hour chart. This also follows a bearish Death Cross between the 20- and 50-period Simple Moving Averages.
This has exposed the 38.2% level at 83.416. Still, prices remain above the 200-period line, which could reinstate the broader upside focus. On the other hand, breaking under it could open the door to extending losses towards the September low at 78.825.
Keep a close eye on the 82.028 - 81.662 inflection zone. The latter price is the 61.8% retracement.
Positive RSI divergence does show fading downside momentum, which can at times precede a turn higher.
Clearing 86.253 would open the door to resuming gains since August.
FX_IDC:AUDJPY
EURAUD: Key Level Trade Explained 🇪🇺🇦🇺
Hey traders,
EURAUD reached a key daily resistance level.
On that, the price formed a double top formation on 1H time frame.
1.5565 - 1.557 is its neckline.
Wait for an hourly candle close below as your signal to sell.
Then open a short position aggressively or on a retest.
Goals:
1.5515
1.545
In case if the price closes above a yellow resistance,
the setup will be invalid.
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AUDJPY: Overbought Market & Confirmation 🇦🇺🇯🇵
Hey traders,
AUDJPY reached year's high last week.
Coiling on that the price formed a dodji candle on 3 days.
Contracting within a symmetrical triangle on 4H time frame,
this morning it was broken to the downside.
Now the price may drop lower.
Intraday supports:
84.75
84.35
For safe entries consider the occasional retest.
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Today’s Notable Sentiment ShiftsUSD – The dollar rose slightly as the US Federal Reserve prepared on Tuesday to kick off its two-day policy meeting where it was expected to announce the start of tapering of its massive asset purchases put in place at the start of the COVID-19 pandemic.
GBP – The pound edged lower on Tuesday, hovering around a three-week low, pressured by uncertainty about whether the Bank of England will raise interest this week.
Commenting on GBP, CIBC stated that “sterling looks set to remain on the defensive. Ahead of UK final services PMI tomorrow and the BoE decision on Thursday, analysts remain split between no change and a 15bp hike. We narrowly favour the former.”
AUD – The Aussie dollar weakened across the board following the RBA’s overall dovish November policy meeting. Despite the central bank dropping its commitment to keep bond yields low.
NAB noted that:
“The RBA has made every effort to sound dovish. There’s nothing in the statement to endorse market prcing that has the RBA moving in 2022, so in that sense there’s clearly an attempt to push back on market pricing.
Their forecasts, which we get on Friday, could be consistent with a move in 2023, but certainty not in 2022.
In the last week or so there’s been a tug of war between the big falls we’ve seen in commodity prices and the big moves we’ve seen in Aussie interest rates, particularly real interest rates. Arguably now, that tug of war for the moment is being resolved with both lower rates and falling commodity prices, so on that basis I would say that the risk is that we could see some further slippage in the Aussie dollar near term.”
GBPAUD: Pullback From Key Level 🇬🇧🇦🇺
Hey traders,
GBPAUD is testing a major daily key level.
On hourly time frame, the price formed a double bottom formation & broke and closed above its horizontal neckline.
After its retest, a pullback is expected.
Goals:
0.826
0.0.8296
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AUDUSD LongAUDUSD looking like it will continue to move higher. I am comfortable buying / adding to a long position here.
Look for commodity prices to continue moving higher as well.
AUS-USD (uptrend)Quick Trading Journal Entry:
Uptrend expected, to the upper line on the orange rectangle-condensed trading zone (resistance at the blue horizontal line, 0.76417 ).
Major resistance at red horizontal line (0.78422).
Expected peak of the uptrend, around: October 31st , with the relative strength index peaking at the 80% marker. The R.S.I also broke out of a long downtrend (green line). Breaking above 0.78422 would be unlikely , since the R.S.I at the point would be overbought, above 80%. Divergence is a possibility, with a peak around November 10th.
Trading is expected to stay within the purple parallel lines though, for both the Price chart and R.S.I Chart.
The pink circle on the relative strength index could predict an "M" bearish pattern signifying a possible immediate downtrend.
AUDUSD:RETEST TRENDLINE & BREAKOUT FALLING WEDGE, BULLISH BIAS?Hello Enthusiast Forex Traders! Here's short-term outlook for AUDUSD, Please give us the thumbs up and support the channel by Smashing the FOLLOW button :)
AUDUSD already retested the bullish trendline. Afterwards, AUDUSD is breaking out of the falling wedge pattern. The price action indicates a potental bullish bias ahead to the target area. The MACD crossed above the zero area, it signify the potential bullish trend ahead.
The roadmap will be invalid after exceeding the support/target area.
DISCLAIMER:
This is only an outlook, not a recommedation to buy or sell the forex pairs.
AUDJPY SHORT (Mean Reversion)Confluences:
1: Stop loss hunt at previous high on weekly level plus a breakout.
2: Price heading towards high of the June(2021) which is an important supply zone with many retail stops.
3: Price has been moving very quickly which signals an over extended market for the pair.
Summary:
Price is currently over extended and has been moving in a up trend for 2 almost weeks straight. We are looking for a potential stop hunt at the high of June where many retail stops may be sitting. We might see a further push to the upside at the new weeks open.
There's is a potential for strong mean revision to take place allowing big players to hunt some stops and grab some liquidity before we see a continuation to the upside in a few weeks to come.
This trade is expected run for the next 8-9 trading days or until the target is reached, whichever comes first. Always remember to Buy to the low and Sell the high. We will be looking for any entries early next week. Remember to always buy the low and sell the high.
AUDCAD: Trend-Following Trading Setup 🇦🇺🇨🇦
AUDCAD is taking off from a strong support level.
The price formed a double bottom formation on 382 retracement of the last bullish impulse.
The trigger that I am looking for to buy the pair is a bullish breakout of a horizontal neckline.
I need an hourly candle close above 0.9255 structure as a trigger to buy.
In case of a new lower low formation on an hourly, the setup will be invalid.
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AUDNZD Looks Bullish! Expecting Pullback ↗️
AUDNZD is testing a strong intraday support level.
I expect a pullback from that to closest intraday resistance.
Time to buy, traders!
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AUDJPY - Possible SHORT Hi all,
AUDJPY is after three weeks grow.
On daily chart RSI is on 81. It's very good moment to catch.
Possible target is : 83.500 - 82.700
Good Luck !
Each analysis is in the form of help, it is not investment advice, everyone has to think about their idea.
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AUDUSD | Watching Level 0.74266 For A Trade Opportunity AUDUSD. Watch for a close above 0.74266 for long opportunities.
