AUDUSD. Medium-term analysis
Hey traders and investors!
It might be time to look for buying opportunities in the Australian dollar
Weekly Timeframe Analysis
The Australian Dollar (AUD) against the US Dollar (USD) has been in a sideways range since January 2023 (point 4 was formed).
Range Boundaries: Upper Boundary: 0.71578. Lower Boundary: 0.61702
Range Vector Analysis
The last realized range vector 6-7 was a seller's vector, which broke through the lower boundary of the range (0.61702). The weekly volumes of this vector are concentrated at the end of October - early November. Above the 0.65124 level, three weekly bars with increased volume are concentrated.
A buyer's vector 7-8 is now forming, with a potential target of 0.69426. In the emerging buyer's vector, there are three bars with increased volume, which may indicate buyer interest at these price levels.
The first resistance on the buyer's path on the weekly TF is the level of 0.65124, as above it, volumes are concentrated in the seller's vector, and this price level is slightly below the 50% mark of the last seller's vector.
Daily Timeframe Analysis
On the daily timeframe, the price has broken through the upper boundary of the range 0.63308, which formed in January.
Range Boundaries: Upper Boundary: 0.63308. Lower Boundary: 0.60878
Range Vector Analysis
The last realized vector 9-10 was a buyer's vector. The volumes are concentrated in the upper part of the vector. Note the daily bars on February 7 and 12, when the seller tried to start the implementation of their vector 10-11 with increased volume. The buyer absorbed these attempts and, on decreasing volume, broke through the upper boundary of the range 0.63308.
Conclusions
Buying (buying patterns) should be considered as long as the price remains above the upper boundary of the range on the daily TF - 0.63308 (priority option). This idea aligns with the implementation of the buyer's vector on the weekly TF.
Selling (selling patterns) is risky, as the buyer's vector is active on the weekly TF, and the price has exited the range upwards on the daily TF. Even if the seller returns the price to the range on the daily TF, volumes under the lower boundary of the range may trigger a buyer's reaction.
I wish you profitable trades!
It might be time to look for buying opportunities in the Australian dollar
Weekly Timeframe Analysis
The Australian Dollar (AUD) against the US Dollar (USD) has been in a sideways range since January 2023 (point 4 was formed).
Range Boundaries: Upper Boundary: 0.71578. Lower Boundary: 0.61702
Range Vector Analysis
The last realized range vector 6-7 was a seller's vector, which broke through the lower boundary of the range (0.61702). The weekly volumes of this vector are concentrated at the end of October - early November. Above the 0.65124 level, three weekly bars with increased volume are concentrated.
A buyer's vector 7-8 is now forming, with a potential target of 0.69426. In the emerging buyer's vector, there are three bars with increased volume, which may indicate buyer interest at these price levels.
The first resistance on the buyer's path on the weekly TF is the level of 0.65124, as above it, volumes are concentrated in the seller's vector, and this price level is slightly below the 50% mark of the last seller's vector.
Daily Timeframe Analysis
On the daily timeframe, the price has broken through the upper boundary of the range 0.63308, which formed in January.
Range Boundaries: Upper Boundary: 0.63308. Lower Boundary: 0.60878
Range Vector Analysis
The last realized vector 9-10 was a buyer's vector. The volumes are concentrated in the upper part of the vector. Note the daily bars on February 7 and 12, when the seller tried to start the implementation of their vector 10-11 with increased volume. The buyer absorbed these attempts and, on decreasing volume, broke through the upper boundary of the range 0.63308.
Conclusions
Buying (buying patterns) should be considered as long as the price remains above the upper boundary of the range on the daily TF - 0.63308 (priority option). This idea aligns with the implementation of the buyer's vector on the weekly TF.
Selling (selling patterns) is risky, as the buyer's vector is active on the weekly TF, and the price has exited the range upwards on the daily TF. Even if the seller returns the price to the range on the daily TF, volumes under the lower boundary of the range may trigger a buyer's reaction.
I wish you profitable trades!
Good luck with your trading!
Online analysis: trend or sideways tradingview.com/chart/gC1IdzUW/
Online analysis: trend or sideways tradingview.com/chart/gC1IdzUW/
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Good luck with your trading!
Online analysis: trend or sideways tradingview.com/chart/gC1IdzUW/
Online analysis: trend or sideways tradingview.com/chart/gC1IdzUW/
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.