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AUDNZD - Extremely overbought - RBNZ in spotlightHello Traders, This week the RBNZ will decide if they will hold interest rates steady after they look a 50 basis point cut during their last meeting. This shocked the market as they had forecast only a 25 basis point cut previously, therefore the NZD took a larger loss. This week the RBNZ is expected to hold rates steady, on the other hand, the RBA is looking at an additional rate cut. This means we could see some strength going back into the NZD. The AUDNZD is also extremely overbought, as you can see this has provided a great opportunity to sell from previously. Keep in mind: If the RBNZ do cut interest rates rates, this trade will not work out. Any questions or comments please let us know, www.forexstoreau.com
Short
by ForexStoreau
Navigating the RBA Rate Cuts - Pricing In AUDUSD 23 SeptSentiment/fundamental rationale tells me to look for short signals only this week. It is reported that the market is starting to price in RBA rate cuts on Oct 1st (81% as of now so plenty of moves to be had) Technically it is very obvious, at least in an intraday context, AUDUSD have been trading lower and now in an intraday bearish trend. Since I am bearish on the AUDUSD, I am looking to "short the rallies". I have identified several liquidity spots, which I marked with green sniper crosshair, as a place I would place my short (if there were bearish signal). The targets potentially be the Boomerang level (purple line) or the 20-week AWR downside projection
Short
by sufiansaid
AUDUSD - Short - Post RBAAs expected the RBA held the AUD cash rate at 1% and AUDUSD has since risen as it failed to challenge 0.67 due to the RBA giving no indication of future rate cuts reducing the odds of a rate cut this year. However, we believe recent rise in the currency pair can be also attributed to the ISM manufacturing coming in weaker than expected and less concern surrounding the US and China trade war. Therefore we maintain our short view mainly on the back of Australian economic weakness which we would hold unless the currency pair rises above the 0.70 psychological level.
Short
by KQMarkets
Navigating The Market : Trading Plan #AUDNZDThere was liquidity run as anticipated yesterday. Price stayed around in that pool and barely got out to make a meaningful trigger for me to Long AUDNZD. As Tokyo opens, we saw price breaks through above Friday's low suggesting it could be time for price expansion after accumulation. Having said that though, there will be risk events in 7 minutes as of i'm writing now, Retail Numbers for Australia. Fantastic time for the institutions doing some stop hunts. I will be looking for a quick tap downside, another tap into the liquidity pool. 12.30pm (Singapore time) there will be Australia Cash Rate (another best time for tapping in those sell stops down below!), I am expecting they will hold their rate at 1.00% and whatever it is they plan next month have been fully priced in The actionable from this : Long AUDNZD when : Price close above the filter line OR Price makes another move to the downside (close below Monday Low) and wait for another bullish trigger (which would opt me to draw a new Filter line). I love the latter plan better.
Long
by sufiansaid
3
AUDUSD - Short - Slow Progress to breach 0.67AUDUSD has been making slow progress to breach 0.67 but we still see this happening in the short term potentially even after the AUDUSD rate decision tomorrow. Despite the odds of a rate cut from the current level of 1% being quite low dovish comments coming out of the RBA would put further downward pressure on the currency pair. However, AUDUSD has been supported somewhat by the easing of trades tensions between the US and China but key US data during this week could lead to significant price action.
Short
by KQMarkets
AUSSIE Has Bottomed! For Now Atleast. Might Aim For 0.69500 Have a look at the snapshot above for AUDUSD weekly TF. It shows the support and resistance levels represented by red horizontal lines. At the moment the price HIT 0.67000 level and is bouncing around near that level, suggesting a BOTTOM or The support has been respected (well at least for now). The main chart, shows AUDUSD on daily TF where as you can see the daily candles have started to form a range. If this range gets broken the price would aim for daily 50 EMA. Now for this to happen we need the daily candle to breakout and close above the range (note: 4hr candle would provide an early signal but there are high chances that it may be a fakeout!). After the breakout happens and gets confirmed we can opt to take this pair LONG and target the daily 50 EMA. However trading such a volatile pair on daily TF is risky as it would trigger the SL or TP quickly due to unexpected news in the current fundamental market. Therefore sticking to the weekly TF is the best option and safest based on the current market situation. For those of you who are eager to take this trade on daily TF to target the DAILY EMA, please exercise caution and do it at your own risk! Now getting back to the technical picture, we need to see the daily candle close convincingly above the daily 50 EMA so we can opt to take this pair LONG towards the 0.695000 level where the descending line of the channel is present plus the WEEKLY 50 EMA. Fundamentally, we have seen the escalation of the tradewar which has heavy effects on the AUSSIE. However we have also seen that a china is ready to start talks again with the U.S giving some hopes to the market. Due to this reason i feel the AUSSIE can target 0.69500 and then from thereafter the free fall would begin again. Shall there be any updates about the trade entry, i will provide them in a new post. this just represents my analysis and outlook of this pair.
Long
by FX618Analysis
AUDUSD Short - Post FEDOn our last AUDUSD analysis on the 23.07 we indicated that the AUDUSD position at the time at the key psychological level of 0.7 would be a short opportunity primarily due to market expectations of further RBA rate cuts. The currency pair has effectively dropped down 0.685 as a result of the unexpectedly hawkish FED which advised that there would be just a 25bps rate cut and gave no signal there will be further cuts in future. Therefore we maintain our short position and will look to take profit as the currency pair reaches 0.67.
Short
by KQMarkets
AUDUSD - Short - RBA Thursday!We are currently short AUDUSD and see the current level as an opportunity to increase the position with a view to the currency pair breaking the Fibonacci level at around 0.69. AUDUSD is at the key 0.70 psychological level and with no Chinese data to be released and with RBA governor speaking on Thursday we expect downward pressure on the currency pair even through the recent message coming out of the RBA has been "wait and see" regarding further rate cuts. This is largely because the market expects further rate cuts this year due to a slowdown in China, a domestic housing slump, weak consumption and high levels of household debt. This coupled with the odds and aggressiveness of US rate cuts dropping as well as an increase in US China tensions could see AUDUSD falling in the coming months.
Short
by KQMarkets
AUSSIE Likely To Slump Towards 0.6700 Level. A SHORT SWING TRADENow that The RBA has cut its interest and the economy not doing so well we could see this pair slump to 67 cents! Bare in mind that the 0.7000 level is a very crucial resistance at the moment and any upward momentum is unlikely to happen as the trade war persists putting pressure on the AUD. 0.67000 level is another crucial support that has been drawn from the monthly charts and in my view this where the price is headed next. so below are the trade details. shall there be any updates i will update them below TRADE ENTRY LEVEL: 0.69100 STOP LOSS: 0.71100 TAKE PROFIT: 0.67000 RR: 1:1 TRADE TYPE: SHORT CHEERS
Short
by FX618Analysis
1
AUDUSD ShortOn our last AUDUSD analysis on the 19.06 we indicated that we were short on the back of Dovish comments by the RBA. However, since then the currency pair has risen back to above 0.70 mainly on the back of a Dovish FOMC despite yesterday's expected RBA rate cut by 0.25% to 1%. Nevertheless, we see this as a good time to start building a short position despite the RBA not suggesting any rate cuts this year in yesterday's meeting. Therefore, we have increased our short position just below the 0.702 Fibonacci resistance level due to the continued struggles of the Australian economy coupled with the uncertainty over US and China trade relations.
Short
by KQMarkets
1
AUD/USD POSSIBLE SHORT POSITIONFX:AUDUSD After a sharp gain, AUDUSD approached a key resistance zone (around 0.7020), established on the 26th of October 2018. Moreover, tomorrow (2nd July), there's going to be the RBA Interest Rate Decision of July, followed, as usual, by a statement from the governor of the Reserve Bank of Australia, Philip Lowe. At its meeting of June, the Board decided to lower the cash rate by 25 basis points to 1.25 per cent. This boosted stocks in Sydney and weakened the Australian dollar. Some analysist are warning that Australia’s nearly three-decade run of recession-free growth could finally arrive to an end. Those moves could accelerate if the RBA does in fact lower rates further to 1 per cent. Therefore, if this daily candle will close under 0.7, then the bearish engulfing pattern will be confirmed and I'll open a short position, with a stop loss of 0.705 and a take profit of 0.6835, a Risk/Reward (R) of 1:3. If price will successfully reach that level, based on the momentum given by candles, I could decide to lower my take profit at 0.67875, with an ultimate R of 1:4.
Short
by UnknownUnicorn3701608
2
AU: Holding Neutral ahead of RBA DecisionAU remained neutral ahead of RBA decision - closing below .6935 resistance -- A retrace to .69650 could be in the picture before cut talk; My view remains to short and should remain bearish under .70000 price point. AiG Manufacturing news out soon will help set the tone heading into the week... Support Levels: .68950, .68650, .68250 Resistance Levels: .69350, .69650, .70000 *Not Professional advice, just my viewpoint. Let me know what you think! -Krecioch
by Krecioch
Sell AUDUSDBearish Cypher The most important points before the rate decision and the interest rate statement tomorrow morning: The RBA abandoned its confirmation that the next step is to raise interest rates Many expectations suggest a rate cut this year The bank cut its economic growth forecast at its last meeting The Bank may prefer the negative outlook for the economy, such as the Reserve Bank of New Zealand The Australian economy grew by 0.2% in the last quarter of 2018 Weak spending rates during December and January Inflation at 1.8% Sell below 0.7100, Details on the chart
Short
by Assem_Mansour