AUDCAD is approaching a significant support areaHey Traders, in tomorrow's trading session we are monitoring AUDCAD for a buying opportunity around 0.90600 zone, AUDCAD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 0.90600 support and resistance area.
We would also like to consider the current bullish momentum on stocks, due to the positive correlation AUDCAD can benefit from that!
Trade safe, Joe.
Aud
Audchf and chf crosses looks bearish as mentionedHello fellow traders , my regular and new friends!
Welcome and thanks for dropping by my post.
If you have followed my video, i mentioned about shorting on chf crosses . It has came down quite a bit and i think it will still continue on...let's see how it play out this week. :)
can look at cadchf etc..
Do check out my recorded video (in trading ideas) for the week to have more explanation in place.
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AUDNZD Has bias for some more down side...Hello fellow traders , my regular and new friends!
Welcome and thanks for dropping by my post.
I find the long tailing candles of the last 2 weeks disturbing....but still bearish on this cross..watching for short opportunities!
Do check out my recorded video (in trading ideas) for the week to have more explanation in place.
Do Like and Boost if you have learnt something and enjoyed the content, thank you!
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The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes.
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Buy AUDJPY BoJ Interest rateKey Points:
Buy Entry: Consider entering a Long position around the current price of 104.30, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 105.15
2nd Support – 105.50
Stop-Loss: To manage risk, place a stop-loss order below 103.97. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
Thank you.
Buy GBPAUD Triangle BreakoutThe GBP/AUD pair on the M30 timeframe presents a Potential Buying Opportunity due to a recent breakout from a Triangle Pattern. This suggests a shift in momentum towards the upside and a higher likelihood of further advances in the coming hours.
Possible Long Trade:
Entry: Consider Entering A Long Position Above The Broken Trendline Of The Triangle After Confirmation. Ideally, This Would Be Around 1.9250.
Target Levels:
1st Resistance – 1.9333
2nd Resistance – 1.9380
Stop-Loss: To manage risk, place a stop-loss order below 1.9180. This helps limit potential losses if the price falls back unexpectedly.
Thank you.
AUD/USD: Potential swing trade long setupAUD posted a strong rally of 5% from the April low, before 67c capped as resistance. A choppy rage has since formed between 66c-67c, although it could also be a bull flag in the making. Whilst we wait for it to decide which of the two it is, we're looking at a cheeky swing trade long idea heading into the weekend.
The 1-hour chart shows a strong rally from US CPI, and recent prices action has retraced against that move. Prices are stabilising around the 20-day EMA, so perhaps it is close to a swing low. The bias is bullish whilst prices hold above the monthly pivot point (0.6610), but tighter risk management could be used if momentum turns higher (such as the recent swing lows).
The initial target is near the upper 1-day implied volatility band of 0.6657.
Bullish bounce?AUD/USD is falling towards a support level which is an overlap support that is slightly above the 78.6% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 0.6610
Why we like it:
There is an overlap support that is slightly above the 78.6% Fibonacci retracement.
Stop loss: 0.6575
Why we like it:
There is a pullback support level.
Take profit: 0.6677
Why we like it:
There is a pullback resistance level that lines up with the 61.8% Fibonacci retracement.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Heading into 50% Fibonacci resistance?GBP/AUD is rising towards a resistance level which is an overlap resistance that aligns with the 50% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 1.92600
Why we like it:
There is an overlap resistance level which aligns with the 50% Fibonacci retracement.
Stop loss: 1.93471
Why we like it:
There is a pullback resistance level.
Take profit: 1.91575
Why we like it:
There is a pullback support level.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
AUD/USD Gains Amidst USD Strength Post-US Jobs ReportThe Australian Dollar (AUD) recovered some ground on Monday after a decline in the previous session. This movement comes as the US Dollar (USD) strengthened due to better-than-expected US employment data released on Friday. The strong jobs report has led traders to push back their expectations for Federal Reserve (Fed) rate cuts, exerting pressure on the AUD/USD pair.
Market Analysis
1. USD Strength: The USD's resurgence is attributed to robust US employment figures, which have diminished the immediate likelihood of Fed rate cuts.
2. Impact on AUD/USD: This has resulted in downward pressure on the AUD/USD pair, as the market adjusts to the new expectations regarding US monetary policy.
Technical Insights
1. Oversold Conditions: From a technical perspective, the AUD/USD pair is currently in oversold territory, suggesting a potential rebound.
2. Support Area: The price is approaching a key support area, further indicating a possible reversal.
Trading Strategy
Given the current technical conditions and market dynamics, we are looking to set up a long position. The correlation with other USD pairs supports this strategy, as they also show signs of potential recovery against the USD.
AUDJPY to form a higher low?AUDJPY - 24h expiry
Indecisive price action has resulted in sideways congestion on the intraday chart.
RSI (relative strength indicator) is flat and reading close to 50 (mid-point) highlighting the fact that we are non- trending.
Pivot support is at 103.00.
Risk/Reward would be poor to call a buy from current levels.
A move through 103.75 will confirm the bullish momentum.
We look to Buy at 103.50 (stop at 103.10)
Our profit targets will be 104.50 and 104.75
2,5RR
Resistance: 104.00 / 104.50 / 104.75
Support: 103.50 / 103.25 / 103.00
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
AUDJPY - Follow The Trend!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 AUDJPY has been overall bearish , trading within the falling wedge in orange.
Currently, AUDJPY is undergoing a correction phase and it is currently approaching the upper bound of the wedge.
Moreover, it is retesting strong supply zone marked in green.
🏹 Thus, the highlighted red circle is a strong area to look for trend-following sell setups as it is the intersection of the green supply zone and upper orange trendline acting as a non-horizontal resistance.
📚 As per my trading style:
As #AUDJPY approaches the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Bullish rise?GBP/AUD has just reacted off he pivot and could potentially rise to the 1st resistance.
Pivot: 1.9245
1st Support: 1.9162
1st Resistance: 1.9338
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
AUDNZD - Wait For The Next Bearish Impulse!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 AUDNZD has been overall bearish , trading within the falling wedge in red.
Currently, AUDNZD is undergoing a correction phase and it is currently approaching the upper bound of the wedge.
Moreover, it is retesting strong supply zone marked in green.
🏹 Thus, the highlighted red circle is a strong area to look for trend-following sell setups as it is the intersection of the green supply zone and upper red trendline acting as a non-horizontal resistance.
📚 As per my trading style:
As #AUDNZD approaches the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Bullish bounce of pullback support?AUD/USD is falling towards a support level which is a pullback support that aligns with the 127.2% Fibonacci extension and could potentially bounce from this level to our take profit.
Entry: 0.65611
Why we like it:
There is a pullback support level which aligns with the 127.2% Fibonacci extension.
Stop loss: 0.65182
Why we like it:
There is a pullback support level that lines up with the 161.8% Fibonacci extension.
Take profit: 0.66400
Why we like it:
There is a pullback resistance level which aligns with the 61.8% Fibonacci retracement.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
AUDJPY H4Let's break down the analysis of the AUD/JPY 4-hour chart step by step.
1. **Key Levels**:
- **Resistance Levels**:
- 103.859: This is a significant resistance level, as highlighted by the upper black line.
- 103.628: Another resistance level, indicated by the upper red line.
- **Support Levels**:
- 102.653: This is a crucial support level, highlighted by the lower red line.
- 100.606: A major support level, represented by the lowest black line.
2. **Current Price**:
- The current price is 103.089, which is marked in the middle of the chart.
3. **Potential Scenarios**:
- **Bullish Scenario**:
- If the price breaks above the 103.628 resistance level, it could move upwards towards 103.859.
- If the price sustains above 103.859, it might continue to rise, aiming for higher levels (not shown on this chart).
- **Bearish Scenario**:
- If the price breaks below the 102.653 support level, it could decline towards 100.606.
- A break below 100.606 would be significant and could indicate further downside potential.
4. **Price Action Analysis**:
- The price has been moving within a range between 102.653 and 103.859, indicating consolidation.
- There have been previous instances where the price tested these levels, showing their importance.
5. **Arrows and Possible Movements**:
- The upward arrows indicate potential bullish movements if the resistance levels are broken.
- The downward arrows show potential bearish movements if the support levels are broken.
6. **Market Sentiment**:
- The chart suggests a neutral sentiment currently, as the price is within the range and has not broken out decisively in either direction.
In summary, traders should watch the key levels of 103.628 and 102.653 closely for potential breakouts. A move above 103.628 could signal bullish momentum, targeting 103.859 and higher. Conversely, a break below 102.653 could indicate bearish momentum, potentially aiming for 100.606.
AUDNZD: RBNZ is outperforming RBAHey Traders, in tomorrow's trading session we are monitoring AUDNZD for a selling opportunity around 1.08300 zone, AUDNZD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.08300 support and resistance area.
Trade safe, Joe.
GBPAUD is approaching the trendHey Traders, in tomorrow's trading session we are monitoring GBPAUD for a selling opportunity around 1.93700 zone, GBPAUD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.93700 support and resistance area.
Trade safe, Joe.
Gbpaud, went higher as mentioned last weekHello fellow traders , my regular and new friends!
Welcome and thanks for dropping by my post.
Gbpaud likely should have more upside to come .Euraud has similar setup but will go for gbpaud instead.
Do check out my recorded video (in trading ideas) for the week to have more explanation in place.
Do Like and Boost if you have learnt something and enjoyed the content, thank you!
-- Get the right tools and an experienced Guide, you WILL navigate your way out of this "Dangerous Jungle"! --
*********************************************************************
Disclaimers:
The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes.
*********************************************************************
EURAUD: Confirmed Bullish Reversal?! 🇪🇺 🇦🇺
EURAUD formed a huge inverted head and shoulders pattern on a daily time frame.
With the release of the yesterday's fundamentals, the price bounced and violated
the neckline of the pattern.
Growth may continue next week.
Next resistance - 1.6475
❤️Please, support my work with like, thank you!❤️
AUDUSD is approaching the trendHey Traders, in today's trading session we are monitoring AUDUSD for a buying opportunity around 0.66400 zone, AUDUSD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 0.66400 support and resistance area.
Trade safe, Joe.
Bearish drop?The Aussie (AUD/USD) has reacted off the pivot which acts as a pullback resistance and could drop to the 1st support.
Pivot: 0.6678
1st Support: 0.6637
1st Resistance: 0.6698
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
AUD/USD Gains Momentum Following RBA Governor's RemarksThe AUD/USD pair is gaining traction after the Reserve Bank of Australia (RBA) Governor Michele Bullock indicated on Wednesday that the central bank is prepared to raise interest rates if the Consumer Price Index (CPI) does not return to the target range of 1%-3%, as reported by NCA NewsWire. This hawkish stance has provided a boost to the Australian Dollar, reflecting increased market confidence in the currency.
Technical Analysis Overview
From a technical perspective, the price action on Tuesday saw the AUD/USD pair touch and rebound from the 61.8% Fibonacci retracement level, initiating an initial bullish impulse. However, this upward movement was reabsorbed during the day. Today, we are looking to buy on dips, anticipating another bullish impulse.
On the H4 chart, a divergence has been observed, reinforcing our bullish bias. This technical indicator suggests that despite some retracement, the overall trend remains positive, and the market may be poised for further gains.
Key Factors Influencing AUD/USD
1. RBA Governor's Statement: Michele Bullock's remarks have underscored the RBA's readiness to adjust interest rates to control inflation, providing a strong bullish signal for the AUD.
2. CPI Concerns: The emphasis on the CPI returning to the 1%-3% target range highlights the RBA's commitment to price stability, further influencing market expectations regarding future monetary policy adjustments.
Market Strategy
Given the current technical setup and the fundamental backdrop, our strategy involves looking to buy on dips. The rebound from the 61.8% Fibonacci level and the observed divergence on the H4 chart support this approach. We anticipate that any pullbacks will provide buying opportunities, with the expectation of a renewed bullish impulse.
Conclusion
The AUD/USD pair is showing positive momentum following the RBA Governor's comments about potential interest rate hikes if inflation targets are not met. From a technical standpoint, the pair's behavior around the 61.8% Fibonacci retracement level and the divergence on the H4 chart support a bullish outlook. As a result, the current market environment presents an opportunity to buy on dips, positioning for another bullish move in the AUD/USD pair.