A short range setup at the .73500-.73650 zone congruent with the previous resistance zone back at 5/17. 50 EMA crossed 200 EMA and now the 100 EMA is about to do the same; indicating in a slight bullish bias towards the upper resistance zone. The EMAs should act as dynamic support to complete the range. Stop loss is set at .74000 and take profit is...
Hello Traders,
After hitting both targets going short with the AUDUSD Gartley pattern, we are now presented with an opportunity to go long on this pair with a Cypher pattern . This pair completes at 0.7166
Target 1: 0.7195
Target 2: 0.7214
Typically this pattern produces a good win rate.
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Aussie dollar is doing well right now. From a purely technical standpoint, this pair is coming back for a retracement from a downtrend. Came back to the .618. Need to be cautious, as the price can continue downwards. Price action, though, is looking to be slowing down in the negative direction.
AUD/USD is currently trading around 0.7250 levels, intraday bias is higher.
After a brief dip below 61.8% Fib at 0.7212 on May 19th, the pair has pulled back above.
On the 2-hourly charts, the pair has broken minor resistance at 0.7230, we see scope for gains upto 0.7290.
Immediate resistance is located at 0.7249 (5-DMA), break above will next next hurdle at...
TRADE UPDATE
Previous analysis:
Please see original analysis linked above for in-depth explanation of our long bias.
We are still awaiting a break below and close below this blue short-term up trend line on the hourly chart to execute a short position on this pair. We will also need to see confluence from our price action forecasting algorithm forecasting a...
There's been a really strong bullish run for the AUD/USD pair that began on 18/01/2016. Between you and I, I was convinced that the Dollarydoo (AUD) was weak as piss and was headed for 0.65 and below. However, like most analysts at the time, I was wrong… There are many explanations for the rise in the value of AUD/USD, but in reality like always, it was good old...
AUD/USD extends decline, hits fresh 11-week lows at 0.7199, in a knee-jerk reaction to weak Australian jobs report.
Australia's unemployment rate held steady at 5.7% in March, while 10,800 jobs were added, below expectations of a 12,000 net increase.
The labor force participation rate unexpectedly fell from 64.9% in March to 64.8% last month, the lowest in...
AUDJPY has been in an overall bearish downtrend over the past few years... consistently making lower lows. Though price action has been choppy making violent swings, the market is holding its bearish bias quite nicely. For this reason we are only interested in taking a short position on this pair. We are viewing this slight bounce on the hourly to be a corrective...
AUD/USD trades with a major downward bias.
The pair has broken major supports:- 1) Trendline @ 0.7555, 2) 55-EMA @ 0.7525, 3) 110-EMA @ 0.7415, 4) 200-DMA @ 0.7259.
The pair has edged higher from session lows at 0.7245, and holds above 61.8% Fib retrace of Jan to Apr rally at 0.7212.
Strong US data on Friday (retail sales and consumer sentiment soared) along...
We have just seen a good retrace on 1h timeframe. Which has confluence on the support of the 10th of May and also the 38% fib retrace. The weekly candle closed really bearish and we recently have seen two dogi candles on h1. We want to reach the -27 fib extension.
There has been formed a head and shoulders on h1 and it is recently been broken. We would love to see a 4h candle closing big and engulfing above the 0.739 level, which it looks like is soon going to happen. The Take Profit won't be till the supply zone. It will be till the 61.8 fibo retrace of the downwards impulse. Let's play it safe.
Hello Traders,
Here we have another Wolfe Wave set up in the AUDUSD pair. Look for a long entry in a smaller time frame or simply enter once the 1-3 line is broken and the bar/candle closes above the 1-3 line.
Another thing I look for before I enter the long/short is a completion of an ab=cd pattern. To distinguish point 'a' I look for the lower high created...
![AUDUSD: AUD/USD A SHORT RANGE ENTRY WITHIN THE DOWNTREND [1HR]](https://s3.tradingview.com/k/KOLTLI7X_mid.png "AUD/USD A SHORT RANGE ENTRY WITHIN THE DOWNTREND [1HR]")
