AUDUSD Head and Shoulders Pattern Breakout Short!We expect further downside on this pair, signalled by the formation head and shoulders pattern breakout. We can also see the breakout of a short-term trendline supports our directional basis.
Audusdforecast
AUDUSD - Look for a short ✅Hello traders!
‼️ This is my perspective on AUDUSD.
Technical analysis: Here we are in a bearish market structure from 4H timeframe perspective, so I am looking for short. I want price to continue the retracement to fill the imbalance higher and then to reject from bearish order block.
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AUD USD TRADE SET UP AUD USD has formed an inverted head and shoulders pattern with a break and retest.
Still waiting for strong candlesticks confirmation to go long
AUDUSD Increasing long exposureThe long i opened yesterday on AUDUSD is going well following my ideas. I see a strong reversal pattern, so i placed another long limit order at the green zone (placed exactly at 0.6513). Stoploss is the same as yesterday, just below this local bottom, and first target is the main resistance at 0.66. If we get there, i will close one position keeping the second for higher profit
AUDUSD: USD reached its highest level in 8 weeksThe US Dollar Index rose to 104.18, its highest level since December 2023.
The US jobs report released on Friday (February 2) far exceeded market expectations. This information reinforced Fed Chairman Jerome Powell's statement at the end of the agency's policy meeting last week that an interest rate cut in March 2024 was unlikely.
Expert Chris Weston, head of research at Pepperstone, said that the optimistic US jobs report basically showed that an interest rate cut in March 2024 is very fragile.
According to CME's FedWatch tool, traders are assessing just a 20% chance that the Fed could begin easing interest rates in March 2024, compared with nearly 50% a week ago. The possibility of cutting interest rates in May 2024 is also possible.
Currency expert Carol Kong at Commonwealth Bank of Australia (CBA) said that the USD is likely to stabilize at its recent increase.
US Treasury bond yields also skyrocketed due to expectations that interest rates will increase in the long term. Benchmark 10-year yield increased 5 basis points to 4.0829%
Short AUDUSD! New Lower Low Formation and Breakout of Key LevelWe expect further downside on this pair, signalled by the formation of the new lower low which is a sign of bearish market structure. We can also see the breakout and retest of a key level which further supports our directional basis.
AUD/USD Gains Positive Momentum Amid Global Market DynamicsAUD/USD Gains Positive Momentum Amid Global Market Dynamics
The Australian Dollar (AUD) is riding a wave of positive momentum during Friday's European session, extending its bullish trend from earlier in the week. A brighter sentiment in European markets and some profit-taking after a robust US dollar rally are contributing to the Aussie's upward trajectory.
Technical Analysis:
The price action tells an encouraging story, bouncing off the 0.6525 support zone, strategically located at the 50% and 61.8% Fibonacci levels. This rebound, in conjunction with the Dynamic trendline, has propelled the price above the 200-day moving average. Adding to the bullish outlook, the Stochastic indicator is poised to exit the oversold condition. These combined indicators present favorable signals for a potential new bullish impulse, suggesting an upward movement in the price.
US Data Influence:
Recent data from the United States has lent support to the USD, with jobless claims declining against expectations last week. This supports the narrative of a resilient US economy, challenging the earlier market sentiment that had priced in rate cut expectations in December. The USD's strength is a crucial factor influencing global currency movements, including the AUD.
China's Economic Struggles:
On the flip side, data from China has added a layer of complexity to the global economic landscape. The fourth quarter's GDP and Retail Sales figures fell below expectations, underscoring challenges in the world's second-largest economy. This has left investors eager for more robust stimulus measures and heightened negative pressure on the Australia-proxy AUD.
Outlook and Targets:
In light of the technical indicators and the broader market dynamics, we anticipate a bullish continuation for the Australian Dollar. Our targets are set at 0.6700 and above, reflecting our optimism for sustained upward movement. However, market participants should remain vigilant, considering the ever-changing global economic landscape, and adjust their strategies accordingly.
Conclusion:
The Australian Dollar's positive momentum is a testament to the intricate interplay of global market dynamics. Technical indicators align with the bullish sentiment, while factors like USD resilience and China's economic struggles add layers of complexity. As the AUD charts a path towards higher levels, traders should stay adaptable and closely monitor evolving economic indicators for a comprehensive understanding of the currency's trajectory.
Our preference
Long positions above 0.64 with targets at 0.68 & 0.69 in extension.
AUDUSD I Pullback and more descend Welcome back! Let me know your thoughts in the comments!
** AUDUSD Analysis - Listen to video!
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AUDUSD Pair : AUDUSD ( Australian Dollar / U.S Dollar )
Description :
Completed " 12345 " Impulsive Waves and " AB " Corrective Waves
RSI - Divergence
Bearish Channel as an Corrective Pattern in Short Time Frame
Break of Structure and Completed the Retracement
AudUsd could drop under 0.63 againFor the past 3 years, AudUsd has been in a downtrend, with the pair dropping almost 2,000 pips from its peak in February 2021, which was around the 0.8 zone. In November 2023, the pair initiated a reversal from a support zone, and by December, it even broke above the descending trend line, reaching a horizontal resistance level at 0.69.
However, this upward breakout, initially perceived as a reversal of the downtrend, turned out to be a false break. AudUsd dropped back below the descending trend line, signaling strong bearish implications. Currently, the Australian dollar is hovering around the crucial 0.65 support level. A breach here could lead to a drop and a test of support around the 0.63 zone once again.
I maintain a bearish outlook at this moment and will continue to do so as long as the pair remains below 0.66.
AUD/USD remains trapped beneath its 200-day EMAAUD/USD fell from the late-December high to mid-January low in a fairly straight line, so it is no surprise to see prices have consolidated. However, the consolidation cannot last forever so we're looking for its next directional.
Given the Aussie has failed to rally despite 'good news' from China, perhaps a spell of bad news could send it lower. That, or a softer-than-expected inflation report on Wednesday.
The daily chart shows the Aussie has repeatedly failed to post a daily close above its 200-day EMA, and has left a series of shooting star candles along the way. Bears could consider fading into retracements towards the 200-day EMA wit a stop well above it, and target the 0.6500 - 0.6520 support zone.
AN RSI (2) above 90 could also help time a short trade as it could indicate a near-term top.
AUDUSD Long AUDUSD looks good to try a long here. 0.65 is a strong support that also fit with the level -0.618 of last leg down, and as you can see it has broke and retested major trend. I expect a bullish trend this week, targeting 0.66.
AUDUSD Early buys Looking for buys on retracement up to recently broken support level to establish resistance to continue downwards, if invalidated, will look for selling opportunities in imbalance area or supply zone.
Divergence on 1hr timeframe to support temporary buys.
AUDUSD SHORT - HEAD AND SHOULDR AT PLAY!Waiting for a break and retest at 0.65252 to short AUDUSD back to 4H ley level at 0.63879
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AUDUSD: AUD/USD eased slightly, while the Australian stock markeImmediately after better-than-expected inflation data, the Australian dollar fell again. In addition, weakening inflation has also provided the market with more information about the RBA's interest rates in the coming time when the Reserve Bank of Australia has had many difficulties in controlling inflation and has only stopped raising interest rates. interest rate in November. Currently, the market is expecting that the RBA will have a 50 bps interest rate cut in 2024.
AUDUSD - Accumulation phase ✅Hello traders!
‼️ This is my perspective on AUDUSD.
Technical analysis: Here we are in an acccumulation phase so I expect we could see AMD pattern, price firstly to manipulate buy side liquidity and to fill the imbalance higher, then to distribute lower.
Fundamental news: On Friday we will see results of NFP and Unemployment Rate. Pay attention to the results in order to validate the analysis.
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$AUDUSD SellsPin bar, doji whatever you choose to call it on H4 timeframe indicating a reversal. Looking for next 4 hours to continue bearish.
AUDUSD Sells??Waiting for a retest of supply zone with confirmations on lower timeframe to enter a sell position.
AUDUSD BUY 30 Jan 2024Price rejected strong support level at 0.6550 (Swing level).
High chances for the price to follow the daily trend (up).
Price consolidated for almost 1 week and bullish engulfing candle formed on 29th Jan 24.
Trendline breakout. Price might do deep retracement (to level 0.6590) before continue the up move.
AudUsd to resume its up move?Two weeks ago, AUD/USD reached a significant support zone at 0.65. Following a slight rebound from this zone, the pair entered a consolidation phase throughout last week. The overall bullish trend that began in late October remains intact, suggesting that the pair may continue its upward movement.
My bullish stance persists as long as the 0.65 support level holds, with the possibility of a retest of the 0.69 high in the medium term.
AUDUSD: Fed and BoE interest rate decisions, economic data and UEconomic calendar with market-impacting events including the latest Fed and BoE monetary policy decisions, US NFP reports, German and Eurozone fourth-quarter growth, manufacturing PMIs and Chinese services, German and Euro zone inflation data.
In addition to the economic calendar, a series of major US technology companies will announce their latest fourth quarter business results. On Tuesday, Alphabet (GOOG) and the world's largest company Microsoft (MSFT) will release financial reports, while on Thursday, Amazon (AMZN), Apple (APPL) and Meta Platform (META) will release financial reports. Announce earnings after the market closes.
The US stock market continues to set new records as investors remain determined to take risks. The upcoming earnings announcement of the "Magnificent 7" will weigh on the indexes due to the large proportion of these businesses and put the market at risk. Last week Tesla (TSLA) disappointed the market and fell about 12% following their earnings release.
AUDUSD SHORT - WE MUST PULLBACK FIRST!Waiting for a retest at 0.66401 to short AUDUSD back to key 4H level at 0.65348
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