200sma, 50%, TL, Structure. A more conservative option places stops below 124.3. Always manage risk trading, keep exposure to a minimum.
A break of this pattern to the upside would be a great long oppurtunity. Follow for more.
Price so far has respected the daily trendline, making a 4th touch. This trade idea will be invalidated if price breaks the TL and previous high, and offers a fantastic R/R. Traders should look for this oppurtunity at London open today, keeping an eye on a news feed for any events that may invalidate the trade. Happy trading.
AUDNZD Is currently in a corrective channel! Watch and see what happens next!
As we shared recently the bull flag on AUDUSD was broken to the upside, we are now looking to buy retracements. significant level at 0.708 offers a great area to buy. Watch for any shifts in fundamentals that would invalidate this trade.
AUDUSD is continuing to test the Q1 high and is currently trading a few pips higher than the significant 0.70 level. Technically price appears to be forming a bull pendant flag, as buying continually grinds the pair higher. Price hasn't been able to close above the Q1 level of 0.70162 however higher lows continue to be formed on the pair. Traders could look to...
USDCAD is coming back into weekly support, will we see USD strengthen again?
Conlfuences are TL, fib, structure. Price still in bearish cycle however gbp recent upside still has pressure on.
Area of confluence on 4hr D and W tf. Look for the setup at 9-12 utc+10 tmrw.15m chart
The image explains it. AUS economy making a strong recovery, RBA maintaining economic conditions and will be responsive going forward. Not currently seeing AUD strength as an issue.
Price is still in a firm higher timeframe uptrend, however we have a clear short on the 1hr against the trend.