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Audusdbuy

AUDUSD - W1 strong support approaching Analyzing the weekly chart of AUDUSD, our outlook anticipates a price decline toward the lower boundary of the channel, which also coincides with the 88.6% Fibonacci retracement level. We expect the Australian dollar (AUD) to establish strong support at the 0.62750 level. Following this expected support, our projection foresees a robust upward movement toward the 0.66700 level. Our initial stop-loss will be set at 0.61700, positioned just below the previous low recorded in October 2022. This stop-loss level is approximately 1.5% below our anticipated entry point. Importantly, this trade maintains a favorable risk-to-reward ratio of 1:4. Please remember that trading carries inherent risks, and market conditions can change swiftly. This analysis is for informational purposes only and should not be considered as financial advice. Always exercise prudent risk management and consider various factors when making trading decisions.
Long
by Coder775
1
AUDUSD BUY - High probability tradeHi Everyone, it's been a while but I'll slowly get back at posting my trading ideas here. Today's setup is on AUDUSD. AUD has had a good rally with the US Dollar weakness, which is currently retracing and reaching a key level. My Setup takes into account the 50% Fibonacci retracement as well as 0.65200 area of previous resistance that could be tested as a support to continue to move price up! I'm placing my stop loss below the Order Block that broke recent structure - in case the market does not respect that level, this setup will no longer be valid and we should look for another opportunity. However, I think this is a great trading idea with added confluences! Let me know your thoughts! Good luck! Cheers, Gaspar_Trader
Long
by Gaspar_Trader
AUSSIE RALLY IS STARTING! [AUDUSD] LONG POSITIONIntroduction: The AUD/USD currency pair is exhibiting compelling signals hinting at a potential trend reversal, with a particular focus on the recent price action and key technical levels. Current Status: As of the close of the New York session, the price has firmly held ground at 0.65100, maintaining its position above crucial support levels. A noteworthy observation on the daily timeframe is the rebound from the 31.8% Fibonacci retracement level, signaling resilience in the bullish sentiment. Structural Shift: The narrative evolves further when examining the structure of the market. From early November, there was a notable Break of Structure (BOS), suggesting a shift in market dynamics. However, as of November 16, a Change of Character (CHOC) is evident, signaling a potential reversal in the prevailing trend. 4-Hour Bullish Momentum: Zooming into the 4-hour timeframe, candlestick patterns reflect a robust bullish trend. Multiple bullish candles with few wicks rejecting the 0.65150 zone, coupled with positive volume, create a compelling case for an imminent breakout. The 0.65150 level, appearing as a psychological barrier, is poised for a potential rupture. Long Position Opportunity: Considering the current dynamics, there appears to be a Long Position opportunity on the horizon. A favorable entry scenario is anticipated if the price successfully breaks the 0.65150 zone and undergoes a retest, confirming the newfound support. This setup presents a potential profit target of approximately 80 pips. Intraday Insights: During the overlap of the London and New York sessions, the price action adds another layer of intrigue. A Hammer candlestick followed by a Belt candlestick suggests a tussle between sellers and buyers. Despite the sellers' attempt to push the price down, the momentum from buyers appears to be gaining strength, setting the stage for a potential rally. Conclusion: In conclusion, the AUD/USD pair is displaying multiple indicators signaling a potential reversal and the initiation of a bullish trend. Traders are advised to closely monitor the 0.65150 zone for a breakout, and consider a Long Position with a retest confirmation. The recent price action, structural shifts, and intraday patterns collectively contribute to a compelling case for a rally in the Aussie.
Long
by e11p
1