4 HOUR CHART HEAD AND SHOULDERS PATTERN FORMING.. BY THE LOOKS OF IT BUYING PRESSURE IS RUNNING OUT FAILING TO MAKE NEW HIGHS AND COME TO A HALT AT THE TRIANGLE RESISTANCE & 61.8% FIB RET
Aussie recovers amid a recovery in the risk sentiment which supported demand for higher-yielding currencies.
Stronger Chinese industrial profits data also lends support. China’s industrial profits spiked 19.5% y/y in Aug versus +11% last.
AUD/USD edges higher from session lows at 0.7611, retakes 5-DMA at 0.7636 and is currently hovering around 0.7664...
AUD/USD is moving within a downtrend and could not breal the last pivot high. Also this Pair formed a Cypher Pattern. Now I'll wait for a breakout to the downside and enter based on a breakout on a lower Timeframe.
Stops and Profits are shown in the Chart
Trade safe, Daniel
Likes and Comments would keep me motivated to post more Setups
This is a counter trend trade but GBP has been selling heavily and may need to correct to the upside for a time. This channel presents a good opportunity to do so. Lets see if it play out. Happy trading
The Aussie is approaching major resistance confluence once again and looks ripe for a short. Pair remains capped by falling trend-line resistance dating back to April 2013. Bears will be keeping an eye out for sell signals on the lower time frames and looking to propel the pair lower. Initial support lies in the 76 - 7620 range, with a break below there targeting...
Australian Dollar may be finishing the push down and start a new ascending impulse. This would coincide with the expected weakness of the US Dollar.
I will looks for longs at 0.74-0.7985 levels, targeting 0.80 by the end of October. Stop Loss order will be placed at 0.7290 as it will invalidate the Butterfly pattern I´m chasing.
AUD/USD closed the bearish gap open and has bounced higher.
Aussie bid on Australian Treasurer Morrison's comments, 100-DMA offers strong support on the downside.
Morrison announced a new MoU between the govt and RBA, which states that now is not the time for major changes to RBA accord.
The major has taken out 23.6% Fib (0.7760 to 0.7442 fall) at 0.7517 and is...
AUDUSD is trading in a bear flag as we head into BOJ and FOMC rate decisions. Pair is struggling with a resistance zone stretching from .7565 to 7585. Bears will be looking to take out the .7540 - 7430 support zone, with rising flag support below there above 7510. We are looking for a break below flag support on dovish BOJ/Hawkish FOMC. Closing power above .7580...
