Get started

Australiandollar

AUDUSD Long off Daily ChartAUDUSD looking great for a long setup. Not the best risk:reward ratio on this one, but a great setup. Let's take a look. First, let's start with the AUDUSD chart on the daily timeframe. Price has stayed in this relatively small channel for the past couple of months quite nicely. We've taken a bounce near the bottom, with a strong bullish candle. Furthermore, there is a mild divergence in the RSI. Although AUDUSD is making higher low, the RSI actually reached 35.93 at this low vs 36.26 at the previous (lower) low. Not a strong divergence, but there nonetheless. On the AUD basket I use, we can see a similar trendline supporting some AUD strength. This basket is the AUD compared to the other major currencies, and we can see an overall period of strength coming off this supporting trendline. Finally, we have the USD basket, similar to the DXY. The 1.106-1.114 zone has served as a nice resistance zone for the past couple of months. In fact, we may have a bit of a head and shoulders forming here. The USD has potential for weakness here. It has not shown clear signs of a downward move, but if we wait too long for this trade, we may not find a solid risk:reward ratio. RISK MANAGEMENT NOTE: If you know my trading system, you know I do not over-expose on trades. I risk 2% per trade, but if I have two entries on one currency (such as AUD), I will enter with 1% risk on each of the two. I am already short EURAUD off the 15 minute chart since last night (14/11/21). I have legged in several times, and my stop is well clear of breakeven. Thus, I took a full 2% risk on this trade. ENTRY: 0.73504 STOP: 0.726 (below the last swing low on the daily chart) TP: 0.753 (right at the previous swing high on the daily chart) This leaves us with a roughly 1:1.8 risk:reward ratio.
Long
by MRobertsTrading
Australian Dollar Ready to Reverse Higher? - AUD/NZDThe Australian Dollar could be readying for its next leg higher against the New Zealand Dollar following losses since early October. AUD/NZD recently confirmed a bullish Morning Star candlestick pattern, opening the door to extending gains. But, prices still need to overcome the near-term 20- and 50-Day Simple Moving Averages. Clearing them exposes the 23.6% Fibonacci extension at 1.0486 before making way towards a falling trendline from March. Otherwise, clearing the key 1.0280 - 1.0331 support zone may see prices resume the downtrend towards the 2020 low. FX_IDC:AUDNZD
by QM_Dubrovsky
Today’s Notable Sentiment ShiftsGBP – Sterling fell to its lowest level of 2021 against the dollar on Thursday as the British economy appeared to lose momentum. Reuters noted that “data released by the Office for National Statistics showed Britain’s economy grew by 0.6% in September but estimates for previous months were revised lower, leaving the economy still smaller than it was in February 2020.” AUD – The Australian dollar slid to its lowest in more than a month on Thursday, pressured by an overall disappointing employment report for October. Commenting on the release and its implications for the RBA, HSBC noted that “the key is that the unemployment and underemployment rates are now further away from full employment, meaning more job creation will be needed to reduce labour market spare capacity and put upwards pressure on wages growth. A broad-based strong wages pick-up may therefore be some time away, keeping the RBA dovish.”
by thunderpips
6
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
by QM_Dubrovsky
2
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. ❤️Please, support this idea with like and comment!❤️
Short
by VasilyTrader
21
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.”
by thunderpips
4