AUDNZD Elliott wave trade signal: Can Santa rally pull AUDNZD?Talking Points:
Technical Strategy: Bullish can be confirmed soon
Elliottwave Count:
Wave 2 can mark completed
Analysis
As per previous analysis, AUDNZD (Australian dollar / NewZealand dollar) was expecting to complete it's wave 2 correction @ 1.0350 after having an high over 1.0726. We were seen corrective move towards 1.0350 in expanded flat correction. We also had a nice bounce from channel support and horizontal support from 1.0350 levels. We are considering it's reversal trend and able to count five wave upwards move in lower time frame. Considering that analysis, we are targeting wave (iii) in coming months which can at-least target above 1.0726. However, we under estimated correction target and correction is still in progress. We are now seeing complex w-x-y correction in placed. We are marking that correction over as we see inner bearish trend line breakout. We will gain more confidence once we have trend line breakout which was drawn from wave 1 towards wave (x) and B. Breakout level can be on 1.0500. However, we are optimistic here and putting correction complete and look for impulse movements in wave 3.
We are looking for break of 1.0488 to confirm our analysis
Action
We re-initiated our long position with definite stoploss.(No Action now)
-- By Hoagtrading.com (Twitter: @Hoagtrading)
RBA
AUDUSD: Longer term charts might indicate a downtrendThere's a discrepancy between timeframes in $AUDUSD, with the daily recently turning into a downtrend, after suggesting buying dips was viable all year; the weekly in an uptrend, and close to fail to confirm bearish momentum within 2 weeks; and the monthly indicating a full flung downtrend is en route, and it should eventually achieve the 0.63111 mark by or before the end of December 2017.
In the short term, the daily chart despite indicating bears are in control, might indicate a retracement or sideways consolidation is about to start, specially viable after we hit the second target, and/or when time for the daily downtrend runs out by January 3rd.
RgMov warns you in the daily, if you wish to go long to catch a retracement, because price might just go sideways, chopping buyers and sellers out for a while, so it will be easier to take the sell side only, either after an overbought rally in the daily, or after a sideways consolidation ends.
(I prefer to do nothing for now, but, if you're interested in going long, you can try to buy a new daily high, risking a drop under last week's low)
Good luck,
Ivan Labrie
AUDCAD: Trend will resumeTalking Point:
Technical Strategy: Confirming it's bearish outlook
Elliottwave View: Reversal confirmed and counting impulsive waves
Analysis
AUDCAD was trading sideway from Aug-2013. We were seen May-2015 a declined again but unable to takeout Aug-2013 low in impulse manner. We were experienced a bounce from 9170 area in May-2015. However, upside was corrective and can be counted as flat correction in Elliott-wave and possibly correction is over on 1.04 zone. With that in mind, we are expecting trend reversal should be taking place and can be seen impulsive declined from 1.04 and possibly we had it's first leg down from 1.04 to 0.9864 and now reversal confirmed from 1.0100 level. Currently we are counting impulsive bearish wave. We were expecting it's minor first leg and was expected small correction towards 1.00. This will provide anyone to join who missed this train. On 7th Dec (Today), we are confirming correction should be over. We are marking this is a complex flat correction where price was traded in range bound.
Action
We are running two short position from 1.01 and 1.004, and for both position we lowered down our stoploss. We also added plan for third position here.
- By Hoagtrading.com (@hoagtrading)
AUDUSD: Monthly range expansions show sellers get trapped higherLooking at monthly ranges, we see that months with sharp selloffs, that surpass the previous true range, as measured from the open to the low, have been causing sellers to get trapped at increasingly higher prices. This is bullish and shows accumulation, and shakeouts taking place. The monthly chart shows a mode near the highs, and now we're testing support at the bottom of the monthly range, so we have a great opportunity on the long side, after the market got extremely one sided.
Sellers might get trapped here again, this time higher than the previous range expansion months, which is bullish overall. Daily and weekly RgMov readings are bullish, and we have massive lag relative to copper and iron ore, which eventually will play out, so I remain bullish.
The entry to add to longs is described in my 4h chart, see related ideas for more information.
Keep these levels in mind, once above, they act as support on a retest.
Good luck,
Ivan Labrie.
AUDUSD enters former support zoneThe Aussie broke through long term channel support in mid-November; falling nearly 300 pips in 3 days, before finding support above 73. Pair has since retraced approximately 61.8% of the decline from 7580 and is testing the .7440 - 75 former support zone. We are looking for a turn lower from here and an eventual break below the 5 month low at 7285. Alternatively; a break above 75 would target the next former support zone at 7555 - 7610, butwe expect any gains to remain capped below there.
AUDCAD: Trend Reversal?Talking Point:
Technical Strategy: Confirming it's bearish outlook
Elliottwave View : Confirming completion of wave (C) of c
Analysis
AUDCAD was trading sideway from Aug-2013. We were seen May-2015 a declined again but unable to takeout Aug-2013 low in impulse manner. We were experienced a bounce from 9170 area in May-2015. However, upside was corrective and can be counted as flat correction in elliott-wave and possibly correction is over on 1.04 zone. With that in mind, we are expecting trend reversal should be taking place and can be seen impulsive declined from 1.04 and possibly we had it's first leg down from 1.04 to 0.9864. Ongoing upward momentum can be wave 2 / wave B.
Action
We are having level planned to short this pair with limited risk and having maximum rewards.
-- By @Hoagtrding (Hoagtrading.com)
AUDUSD: Small swing long initiated at today's openI'm monitoring price action here, I think we can add to longs after today's close, buying into new daily highs with half position, and tightening my initial entry stop to today's low, on close.
For now, we need to wait patiently for the daily close, and then we can add with comfort.
If not in, wait for the close and buy as indicated.
Good luck,
Ivan Labrie.
0.75 key price zone to monitor this week Last week AUDUSD was rejected again from the 0.77-0.78 daily resistance zone which is also the PRZ of a bearish Gartley (pink).
The difference between this time and the previous times it was rejected from this price zone is that now AUDUSD sell off drove it below 2 MA lines and the bottom of a trading channel - Bearish sign
Now 0.75 will be tested as support.
1) The 200 days MA line and the structure can drive AUDUSD higher for a short term pullback (or bullish continuation wave).
2) AUDUSD will break below 0.75 and continue towards the next support zone and the secondary target zone of the Gartley - 0.735.
Read more about this scenario and others in this week's newsletters (link in bio)
NZDUSD: Potential turning pointNZDUSD is at a good support zone, and could turn up from here, following gold, which is very oversold. I'm waiting to enter long here, I'd like to see how today's bar acts, to buy into strength going forward. You shouldn't rush into gold or NZDUSD longs right away, but, should monitor how today behaves first.
The negative news surrounding New Zealand serve as an extra ingredient, to give us enough bearish sentiment for a bottom in here: www.bloomberg.com
Live cattle and milk futures remain bullish, and gold might be about to bottom after stopping out longs and making perma-bulls give up, hopefully, very soon.
If you want to learn more about the trade entry, and risk management, contact me via pm.
Good luck,
Ivan Labrie.
AUDNZD November Month Technical: Can RBNZ make wave 3 move?Talking Points:
AUDNZD Technical Strategy: Re-initiating Long position
Elliottwave Count: Reversal is in process after wave 2 completion
Analysis
AUDNZD is expecting to complete it's wave 2 correction @ 1.0350 after having an high over 1.0726. We were seen corrective move towards 1.0350 in expanded flat correction. We also had a nice bounce from channel support and horizontal support from 1.0350 levels. We are considering it's reversal trend and able to count five wave upwards move in lower time frame. Considering that analysis, we are targeting wave (iii) in coming months which can atleast target above 1.0726.
Action
We are re-initiating a long position again after had a handsome profit on long from Sept month at level 1.0337. We also defined entry, exit and stoploss criteria in trade signal section.
AUDUSD Sideways But Sell After Confirmation @0.76411AUDUSD might break at the higher time frame resistance, but has limited potential to continue going up and breakout at 0.7725 unless the result of US elections or hawkish RBA pushes it up. Risky to sell right away as well without any further confirmation. Waiting for candlestick confirmation past 0.76411, as well as fundamentals and ADX confirmations before going short.
1W:
1D:
Austrian Traded Index Analysis: Triangle scenario played well, nTalking Points:
Austrian Traded Index (ATX) Technical Strategy : Hold until Triangle breakout
Elliottwave Count : Triangle
Analysis
ATX (Austrian Traded Index) is in wave (B) which is in triangle formation. We are in last phase of triangle (wave e). We possibly see last pull leg up or in alternate scenario, we possibly see downtrend from current level. We might mark this move as confirmed after 2092 level breakout which is drawn from wave (c) to wave (d). Each leg of triangle retraced 76.4% of fibbo, with same analogy we can target wave (e) to 2502.26 or at-least 2390 (already reached 2390).
Action
We are bullish on AUD basket in short term and same time we need to put caution on every AUD pairs. As those pairs are on bearish view for longer time frame. Once ATX confirm it's triangle breakout, we can expect impulse bear move on AUD pairs.
-- By @Hoagtrading (Hoagtrading.com)
EWA: Australia is a longThe trend is now up, and we have a weekly 'Time at mode' signal pointing to 22.59 as the target.
Risk is a drop under 19.37. You can buy dips, or speculate on copper, or on FXA or AUDUSD as well.
Steel/Iron ore is also looking great, which makes this a sure buy.
Shares of X or STLD would be a nice buy as well.
Good luck,
Ivan Labrie.
AUDUSD Humpty DumptyDespite the RBA leaving its economic policy unchanged, I still have a gut feel that this pair might drop soon (and as any feelings, they're just feelings, so it's highly likely that I might be wrong and I'm just relying on technical analysis too much + my current bias on USD strength). Waiting for confirmation candles to drop at 0.755 or rise to 0.76833 before entering any trade.
www.dailyfx.com
AUDUSD: UpdateIn my previous publication I had signaled a good spot to go long AUDUSD, based on the support level that was tested, after breaking out of a linear regression channel, and landing on a VIX generated support zone.
Commercial traders have been a reliable source of information so far, and you can read my analysis on the subject in the previous post. I have part of my position still running, and I'm looking to take short term trades on the way up.
For now, AUDUSD has broken above all resistance levels, except for the top of the Brexit range. Ideally, we need tomorrow's bar to stay above this level on close, confirming the breakout of the range, and then proceeding to rally above the next level, the top of the first rate cut date's range, which triggered a massive decline in the Aussie back in May.
I'll add the short term view in the comments below.
Good luck,
Ivan Labrie.
AUDNZD: Looking for long opportunityTalking Point:
Technical Strategy: Turning Bullish
Elliottwave View: Possibly flat correction over.
Analysis
We were bullish on AUDNZD since Sept month and booked handsome profit on reversal 1.0340. We now looking to re-initiate long position on confirmation. Current pricing structure suggesting a flat correction near previous wave 4 region. This region provide target zone for wave 1 after reversal. As current price is trading in a channel, we are seeking for few confirmation to mark this as a flat correction and initiating long position with defined stoploss.
Action
Looking for long opportunity for targeting above 1.0910
-- By @Hoagtrading (Hoagtrading.com)
AUDNZD: Decent Rejection Off the RetracementWith the near term sentiment on Aussie being bullish, and a decent rejection formed off the 1.0680 area, we are seeing a good opportunity to long the AUD and short the NZD; bearing in mind that another rate cut is still very much on the table for the RBNZ.
AUDUSD: Add to long term longs, nice short term opportunityAUDUSD has a very bullish long term, intermediate term, and short term chart.
We can add to our core positions, if we make a new daily high. We can also take a short term trade once that happens, with a tight stop at the previous daily bar's close. Target is roughly 0.77 for the short term position, and over 0.8350 for the long term entries.
Long term positions were entered earlier, and recently averaged at lower levels, refer to my previous publications.
Good luck,
Ivan Labrie.
AUDUSD: Huge breakout, similar to copper and iron oreWe have a potential breakout of considerable scale in the Aussie dollar chart. I'd highly reccomend entering longs if not in, you can risk either 3 times the daily ATR for the long term, or use Friday's low as your stop, more aggressively.
The target is the 0.8350 handle, to be confirmed after the bi-weekly time at mode signal on chart confirms. For now, it's not yet confirmed, but highly likely, so we can get in early on. I'm adding a shorter term entry here, on a break of Friday's high, with stops under Friday's low, to complement my longer term position in this pair.
Check out my copper forecast in the related ideas, as well as the oil an commodity index charts. We're in the brink of a massive move, that if confirmed, can be ridiculously profitable for all of us if it pans out like I expect it to. This also ties nicely with China's inclusion in the SDR basket today, OPEC's deal, fears of Deutsche Bank's failure dissipated, and Australia's fundamentals overall.
Cheers,
Ivan Labrie.
AUDUSD: RBA key levels analysisAUDUSD gives us plenty of clues whenever we record the key levels after major monetary policy changes or simply news related to the RBA.
If we check these levels, also paying attention to levels generated from international events, like Fed news, or events like Brexit, we can get a clear picture of what is more likely to happen and what price has to do to sustain a bearish or bullish bias.
If you have any questions let me know. For now, we're long, you can refer to my previous publication.
Cheers,
Ivan Labrie.
AUDUSD: Key Hidden Levels and Linear regression analysisAUDUSD found support at the upper deviation of the recent downtrend's linear regression channel today. This level coincides with the mid point of the recent VIX 75% retracement, or 'smart money buying spree' key level, which happens after VIX spikes by 5 points or more, and the smart money 'buys the dip' in risk assets, making VIX retrace 75% of its recent climb, reducing option volatility, calming the market and putting a floor below the recent sell off lows. This range, gives 3 levels to monitor on retest, and that's what we have here. Let's see if bulls step in and drive price above resistance, else, the downtrend in AUDUSD will resume.
We can enter longs here, or on a new daily high to be more conservative, risking a new daily low. Keep risk at 1% or less.
Good luck,
Ivan Labrie.