TECHNICAL
As you can see on the chart, there is a bearish divergence on the RSI. You can also see that the area above 0.7721 was tested many times and faced rejection every single time.
FUNDAMENTAL
The Australian dollar is correlated with China and gold because the country relies a lot on exports of raw material to Asia.
On China...
China’s gross domestic...
FX:AUDUSD
In this trade we can see a nice preceding bullish trend heading towards an area of resistance, next we see a nice pin bar candlestick which tells us that the bullish power might be transitioning to the bears. Confirmation is needed for me, so i executed a breakout entry below the low of the pin bar candlestick or also called Indecision...
Upbeat Australian confidence gauge buoys Aussie bulls, AUD/USD extends gains above the 0.76 handle.
Data released earlier today showed that NAB Business Confidence jumped to 6 vs 3 last, while the business conditions numbers for Mar hit fresh 8-year high, coming in at 12 vs 8 previously in Feb.
AUD/USD broke strong trendline resistance at 0.7595, Technicals...
The momentum is still strongly BULLISH in Aussie pairs, so I entered position for a short test, purely for technical reasons. Oil fluctuations will probably rise ahead of Doha and EIA inventory data, I also expect volatility in commodity dollars to pick up. Chinese GDP figure on Friday is also a risk factor, some AUD profit taking might occur.
RR: 1:3
Stopping...
i'm sorry about the previous chart for audusd . it's was wrong drawing the channel.
this is the area of looking for short.
now we can take long carefully
good luck
With AUDUSD being in a strong bullish uptrend since the start of 2016, as shown in the image below, we are only looking to play this pair to the upside.
We will continue to hold this long bias until we significantly close below .74.
In order for us to get a signal to go long on this pair we will need to see price action break above and close above the red...
TRADE UPDATE
Previous analysis:
Please see original analysis linked below for in-depth explanation of our long bias.
We are still awaiting a break above and close above this red short-term down trend line on the hourly chart to execute a long position on this pair. We will also need to see confluence from our price action forecasting algorithm forecasting a...
AUD/USD rejected at day's high by 0.7637, slips below the 0.76 handle to currently trade around 0.7590 levels.
Technicals on 2H charts show scope for further downside, Stochs and RSI are biased lower and MACD line shows bearish crossover on signal line.
Immediate support is seen at 0.7568 (Mar 21 st lows), while resistance is seen at 0.76 (psychological level...
AUD/USD rebounds from session lows at 0.7510 following the release of the Chinese services PMI report.
Data showed that China services sector activity expanded from 51.2 in Feb to 52.2 in Mar, highlighting that the recent stimulus measures by the Chinese central bank are yielding results.
Dismal Australia trade data along with widespread risk aversion and RBA...
TRADE UPDATE
Previous analysis:
Please see the original analysis for in-depth explanation of our long bias.
We are still awaiting a break above and close above the red short-term down trend line on the hourly with confluence from our price action forecasting algorithm. We will need to see our algorithm predicting a move to the upside with a forecasting...
TRADE UPDATE
Previous analysis:
Please see original analysis for in-depth explanation of our long bias.
We are still awaiting a break above and close above this red short-term down trend line on the hourly chart to execute a long position on this pair. We will also need to see confluence from our price action forecasting algorithm forecasting a move to the...
![AUDUSD: [AUDUSD] PIN BAR CANDLESTICK + AREA OF RESISTANCE](https://s3.tradingview.com/j/jMv5cfkd_mid.png "[AUDUSD] PIN BAR CANDLESTICK + AREA OF RESISTANCE")
