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Audusdbuy

AUDUSD right on major support, time to start buyingBuy above 0.7577. Stop loss at 0.7556. Take profit at 0.7642. Reason for the trading strategy (technically): Price is now right on our buying area. We prepare to buy above 0.7577 support (Fibonacci retracement, Fibonacci extension, horizontal swing low support) for a bounce up to at least 0.7642 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (34,5,3) is seeing a nice bounce above 4% with good upside potential. Reason for the trading strategy (fundamentally): It’s too tricky to call a move on NFP this month as there are too many mixed signals. Arguments for stronger payrolls include Challenger job cuts, employment component of manufacturing ISM rising, consumer confidence rising to 118.9. However, there is also strong arguments for weaker payrolls with Employment Component of Non-Manufacturing ISM dropping to 55.8 from 57.8, ADP Employment Falls to Lowest Level Since October, 4 Week Jobless Claims Average Rises to 243K from 239K, Continuing Claims Rises to 1.956M from 1.929M and University of Michigan Index Drops to 95.1 from 97.1. We lean slightly closer to USD weakness which means it is in line with our rise in AUDUSD.
Long
by MEX_Exchange
Trend Continuation Pattern on AUDUSDHey guys, Australian dollar has gained a lot over the pasy days, you can see this from the chart above and you can also see that lately price has been ranging in a very tiny space. When you see impulsive move like this you would expect price not to retrace so much because of the strength disequilibrium. And that is what i think could happen next here: flags, pennants, wedges, these are all trend continuation patterns that appear when price has a strong trend. Therefore, if it will retrace a bit i'm going to enter long with stops below the lows and target1 at the retest of the highs. Target2 will be placed around 0,76. Let's see how it plays out! If you have questions or if you want to share your view, feel free to write below. Otherwise, see you in the next chart!
Long
by Roker1
Is AUDUSD ready to reverse?Hi guys, this is the AUDUSD 4hr chart and i've been waiting for this AB=CD to complete for a long time, now the moment has come. We have an AB=CD pattern completing right at a previous daily structure level, with some Fibonacci confluence and a nice RSI divergence. If price shows us some buy signal it would be a good chance to go long and make some profit, risk to reward ratio seems pretty good. Keep you updated. If you want to share your idea about this or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
4
Is AUDUSD ready for a reverse?Hi guys, this is the AUDUSD 4hr chart and i've been waiting for this AB=CD to complete for a long time, now the moment has come. We have an AB=CD pattern completing right at a previous daily structure level, with some Fibonacci confluence and a nice RSI divergence. If price shows us some buy signal it would be a good chance to go long and make some profit, risk to reward ratio seems pretty good. Keep you updated. If you want to share your idea about this or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
AUDUSD bunch of clues!Hi guys, just wanted to share with you this analysis i've made on AUDUSD. All this starts from higher timeframe, if you take a look at the daily chart, you'll understand that price is at a decision level. The yellow box actually represents the daily structure zone that price is testing. So the first thing i want to see is that price is at a structure point, then i go into details searching for reasons to go short/long. In this case you can see on the 4hr chart we have an AB=CD pattern already completed at a psychological number (0,7500) together with a 382 fibonacci retracement (of the bigger daily leg) and an RSI divergence. In conclusion, i'm waiting a little pullback in order to get a better entry and therefore a better risk to reward ratio. Hope you like it! If you want to share your viewpoint or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
9
AUDUSD nice confluence!Hi guys, just wanted to share with you this analysis i've made on AUDUSD. All this starts from higher timeframe, if you take a look at the daily chart, you'll understand that price is at a decision level. The yellow box actually represents the daily structure zone that price is testing. So the first thing i want to see is that price is at a structure point, then i go into details searching for reasons to go short/long. In this case you can see on the 4hr chart we have an AB=CD pattern already completed at a psychological number (0,7500) together with a 382 fibonacci retracement (of the bigger daily leg) and an RSI divergence. In conclusion, i'm waiting a little pullback in order to get a better entry and therefore a better risk to reward ratio. Hope you like it! If you want to share your viewpoint or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1