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AUDUSD BUY | Idea Trading AnalysisAUDUSD is moving in an UPtrend channel. The chart broke through the dynamic Resistance line, which now acts as support. We expect a decline in the channel after testing the current level which suggests that the price will continue to rise Hello Traders, here is the full analysis. I think we can soon see more fall from this range! GOOD LUCK! Great BUY opportunity EURUSD I still did my best and this is the most likely count for me at the moment. ------------------- Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad
Long
by TheGrove
7
AUDUSD Bearish Butterfly Pattern Signals ReversalThe AUDUSD pair is currently forming a Bearish Butterfly Harmonic Pattern (XABCD), a classical harmonic formation that signals potential trend reversals. The critical Point D, known as the Potential Reversal Zone (PRZ), is where the pattern completes, indicating a high probability of a bearish reversal. Confluence Factors: Key Resistance Area: Point D aligns precisely with a significant resistance level, suggesting strong selling pressure at this zone. 4-Hour Trend Line: The PRZ also coincides with a descending trend line on the 4-hour chart, reinforcing the bearish outlook. RSI Bearish Divergence: The Relative Strength Index (RSI) is exhibiting bearish divergence, where the price is making higher highs while the RSI is making lower highs, indicating weakening bullish momentum. Entry and Risk Management: Entry: Based on the confluence factors, an entry is recommended at 0.66730. Stop Loss: To manage risk, place the stop loss at 0.67180, just above the resistance and PRZ, providing a buffer against potential volatility. Take Profit Levels: TP-1: 0.66280 TP-2: 0.65830 TP-3: 0.65380 These profit levels are strategically placed at key support zones and Fibonacci retracement levels, offering a structured exit plan as the market potentially moves in our favor. Conclusion: Given the alignment of the Bearish Butterfly Harmonic Pattern, key resistance, trend line, and RSI divergence, a bearish reversal is anticipated from Point D. This setup presents a high-probability trading opportunity, supported by multiple technical factors. The proposed trade setup provides a favorable risk-reward ratio, making it a prudent entry for traders looking to capitalize on a potential trend reversal in the AUDUSD pair.
Short
by MZ_FX_
AUD/USD: Westpac's Bullish Perspective The AUD/USD and NZD/USD are trending higher due to risk-on flows boosting these currency pairs. For AUD/USD, on the downside, immediate support could lie at 0.6594, just above the 100 Daily Moving Average. The RSI is almost levelling off at around 80. Westpac recently highlighted a bullish stance on AUD/USD: “...there is no clear path to significantly higher US yields at the moment, especially with Powell reiterating that persistent inflation trends prolong restrictive policies rather than suggesting imminent rate hikes. Additionally, there are increasing risks of a weakening job market, as indicated by softer April payrolls and last week's rise in jobless claims.” In essence, Powell has tentatively ruled out rate hikes, while Nonfarm Payrolls and other job data have started to soften. Furthermore, recent US CPI data revealed that the annual inflation rate eased to 3.4% in April 2024 from 3.5% in March. Although inflation remains stubbornly high, the downward trend may not support USD bulls. Extra gains might push the AUD/USD to test 0.6700, before approaching the key 0.6750 level.
by BlackBull_Markets
AUDUSD: AUDUSD analysis todayUBS, a Swiss bank, stated in a May thirteen report: "Historically, May has been a superb month for the greenback. Our seasonal indicator indicates that call for for USD normally will increase in overdue April and peaking in mid-May, with the Euro (EUR), Australian Dollar (AUD) and New Zealand Dollar (NZD) normally maximum affected." UBS added: "More mainly to the overseas exchange (FX) marketplace, that is additionally a signal that the marketplace can also additionally were preserving the USD lengthy for superb costs and as a shielding hedge. This prevents chance sell-offs in desire of the greenback as visible in preceding periods, while the greenback acted as extra of a supply of chance."
Short
by Chart_MasterPro
AUDUSD I Potential corrective bounce or consolidation Welcome back! Let me know your thoughts in the comments! ** AUDUSD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Long
by BKTradingAcademy
1
AUDUSD: USD increases; The market waits for statements from the The greenback edged better on Wednesday, bucking current weak point as numerous Fed officers organized to speak. At 04:20 ET (08:20 GMT), the Dollar Index, which tracks the dollar towards a basket of six different currencies, traded 0.2% better at 105,500, off its lowest withinside the nearly a month remaining week. The greenback obtained a small increase overdue Tuesday after Minneapolis Fed boss Neel Kashkari stated chronic inflation and a robust economic system may want to convince the United States important financial institution to depart hobby costs unchanged. for the the rest of this year. US hobby charge moves hold to draw marketplace interest and with out pinnacle US monetary facts this week, policymakers` evaluations come to be even extra important. Fed Chairman Jay Powell basically dominated out in addition tightening remaining week, however lots of uncertainty stays approximately whilst a flow decrease will occur. Investors haven't any scarcity of Fed officers to look ahead to Wednesday, with Vice Chairman Philip Jefferson, Governor Lisa Cook and Boston Fed President Susan Collins ready to speak.
Short
by Chart_MasterPro
AUDUSD Technical Analysis and Trade Idea In our comprehensive analysis, we delve into the AUDUSD currently trading into a bearish order block on both daily and four-hour timeframes. The accompanying video elucidates the prevailing trend, delineates the nuances of price movements, and dissects the overarching market architecture. Additionally, I offer a strategic trade proposition for consideration. Please be advised that the content disseminated herein serves solely an educational function and should not be misconstrued as professional financial counsel. The act of trading is fraught with inherent perils, which accentuates the indispensability of steadfast adherence to stringent risk mitigation measures.
by fxtraderanthony
Countdown to RBA rate decision Countdown to RBA rate decision The nine members of the Reserve Bank of Australia (RBA) are set announce its latest interest rate decision that could significantly impact the Australian dollar. This comes amidst remarks from Warren Hogan, Chief Economic Advisor at Judo Bank, who suggests that the central bank might soon need to raise rates to over 5%, a notable increase from the current 4.35%. Hogan asserts, "We're nearing two years since the commencement of rate hikes, and it appears that it's not yielding the desired outcomes." The money market indicates only a small probability of a rate hike today. However, Economic Editor John Kehoe from the Australian Financial Review raises doubts about whether the market is downplaying the likelihood of such an increase. According to Kehoe, over the last 25 years, the RBA has consistently raised interest rates promptly when confronted with a quarterly inflation rate as high as the current one, barring exceptional economic conditions. In contrast, Gareth Aird, Head of Australian Economics at CommBank, posits that Australia's neutral cash rate likely lies between 2.5% to 3%, and any rate exceeding 3% is sufficiently constraining. On the daily chart, the price has once more approached a significant resistance zone at 0.6650, where the pair encountered rejection in both April and March. Should the Reserve Bank of Australia adopt a more hawkish stance today, even in the absence of a rate hike, it might catalyze a breakthrough of this resistance level for the pair. Conversely, a downward move could find support around the 100-day moving average.
by BlackBull_Markets
AUDUSD Short Trade Setup A #short trade opportunity recently presented itself on the #aussiedollar (#AUDUSD) #trading chart 📉. This is indicated by the #bearish harami candlestick 🕯️ pattern just below the 0.66462 horizontal resistance level. This indicates a rejection of the same level, with potential price move in the downward 👇 ⬇️ direction (#sell). Sufficient downward momentum should see price dumping towards the 0.65000 psychological level and possibly testing the strength of the 0.64647 horizontal support level. As always, please apply appropriate risk management. Happy trading! #majorpair
Short
by charles-okoukoni
2