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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
AUDUSD: Australian budget revenue growth cools amid economic heaThe Treasurer has previously highlighted the impact of weaker commodity prices, particularly on iron ore - a key Australian export - along with rising unemployment as key factors. to adjust revenue. Australia's unemployment rate hit a two-year high of 4.1% in January. Over the last month, Chalmers has also highlighted concerns about global economic stability, noting that recent events in the Middle East are likely to affect upcoming budget plans in May. The exchange rate at the time of announcement was $1 to 1.5133 Australian dollars.
Long
by Chart_MasterPro
AUDUSD: AUDUSD technical analysis todayMost Asian currencies weakened on Friday, while the dollar steadied in anticipation of key inflation data expected to influence the Federal Reserve's stance on cuts. interest rates. While the dollar's decline overnight - after weaker-than-expected US gross domestic product data - brought some relief to Asian currencies, this was largely offset offset by continued bets on higher US interest rates for longer. The dollar also eased some of the losses in Asian trade.
Long
by Chart_MasterPro
1
Fed rules out rate hike. Will the RBA now do the same? Fed rules out rate hike. Will the RBA now do the same? The US Federal Reserve maintained its policy rate within the 5.25%-5.50% range as anticipated. Notably, Fed Chair Powell, in the press conference, expressed that while the central bank remains vigilant about inflation risks, a hike is "unlikely" for the next move. Will the Reserve Bank of Australia (RBA) echo a similar stance when it announces its interest rate decision next week? Although there were hopeful indications that inflation in Australia was trending in the right direction, these were dashed recently by a stronger-than-expected reading for the March quarter. With hopes for a rate cut dashed, speculation now centers around the possibility of another increase before 2024 concludes. Bloomberg reports a shift in expectations from rate cuts to a potential rise by year-end. Market sentiment has transitioned from a 70% likelihood of an interest rate cut in August to a 50% probability of a 0.25% rate hike, which is a huge shift in sentiment. If indeed an interest rate hike materializes, it would place Australia in stark contrast to other central banks. Presently, the RBA's cash rate stands at 4.35%. None of the major four banks anticipate the RBA's next move to be an increase, with all still projecting a rate cut by Christmas. However, these forecasts remain subject to change in the lead-up to the RBA's decision.
by BlackBull_Markets
AUDUSD Potential Short Opportunity Bearish Bat Harmonic PatternThe AUDUSD pair is currently exhibiting a potential Bearish Bat Harmonic Pattern (XABCD) formation, coupled with its proximity to a significant resistance level. This suggests a possible reversal in trend momentum, with bearish indications expected to strengthen from Point D onwards. Harmonic Pattern Analysis: The Bearish Bat Harmonic Pattern (XABCD) is emerging on the AUDUSD chart, indicating a potential reversal of the current uptrend. The completion point (Point D) of this pattern aligns closely with the key resistance level, adding further confluence to the bearish scenario. Entry and Stop Loss: We recommend taking a short position at 0.65200, anticipating the reversal from Point D. A stop loss should be placed at 0.65900 to mitigate potential losses in case of a breakout above the resistance level. Take Profit Targets: TP-1: 0.64520 TP-2: 0.63820 TP-3: 0.63128 Rationale: The decision to enter a short position is supported by the confluence of the Bearish Bat Harmonic Pattern and the key resistance level. This setup suggests a high probability of a bearish reversal, with potential downside targets identified at various support levels. Risk Management: It's crucial to adhere to proper risk management principles when executing this trade. By maintaining a disciplined approach to position sizing and adhering to the specified stop loss level, traders can effectively manage their risk exposure. Conclusion: Based on the technical analysis, a short position on AUDUSD is recommended, with entry at 0.65200 and a stop loss at 0.65900. Take profit targets are set at 0.64520, 0.63820, and 0.63128. This analysis aims to capitalize on the anticipated bearish momentum following the completion of the Bearish Bat Harmonic Pattern and the resistance level confluence.
Short
by trading_jupiter
2
AUDUSD - Shark Harmonic Pattern Formation Detected-Bearish TrendAUDUSD is currently forming a Shark Harmonic Pattern (XABCD) on the 4-hour time frame. This pattern is characterized by specific Fibonacci ratios between the price swings. The completion point, Point D, coincides with a key Resistance level, indicating a potential reversal. Trendline Analysis: In addition to the harmonic pattern, there is a significant Trendline acting as a dynamic resistance level, further supporting the bearish outlook. Entry and Stop Loss: Based on the analysis, a prudent entry point is identified at 0.64800, just below Point D. To manage risk, a stop loss is recommended at 0.65350, above the recent swing high and the pattern completion point. Take Profit Targets: Three take profit targets are set to capitalize on potential downward movement: TP-1: 0.64270 TP-2: 0.63740 TP-3: 0.63200 Risk Management: The risk-to-reward ratio for this trade is carefully considered to ensure favorable risk management. The potential profit targets offer a balanced reward relative to the risk taken with the stop loss. Conclusion: With the Shark Harmonic Pattern formation, along with the confluence of the Trendline and key Resistance level, the technical analysis suggests a bearish momentum in AUDUSD. Traders may consider entering short positions with the specified entry, stop loss, and take profit levels, keeping risk management principles in mind.
Short
by trading_jupiter
3
Bought the dip in AUD/USD, did you buy too ?Hello traders, on account of US Dollar demand across the board due to news about the escalating Iran-Israel conflict, AUD/USD fell quite rapidly during the Asian Trading session on Friday. However, the price has made a quick recovery since then. AUD, considered a risk asset mostly falls during times of geopolitical tensions and economic crises. . However, I went long in AUD/USD@0.6370 level as I feel markets will recover soon. That being said, the key support level lies at 06270. In case, AUD/USD continues to go up from current levels, the first target for the bulls would be the 100-day EMA level at 0.6540
Long
by KaltoireCapital
8
AUDUSD - Potential sell idea ✅Hello traders! ‼️ This is my perspective on AUDUSD. Technical analysis: Here we are in a bearish market structure from 4H timeframe perspective, so I look for a short. I expect price to continue the retracement to fill the imbalance higher and then to reject from FIBO 0.618 level. Fundamental news: This week on Friday will be released Unemployment Rate on AUD, news with high impact on currency. Like, comment and subscribe to be in touch with my content!
Short
by Snick3rSD
2
AUDUSD: The dollar headed for a second weekly gain amid interestThe US dollar is on track to gain for a second straight week today, underpinned by a strong US economy that has changed expectations for an interest rate cut by the Federal Reserve. The greenback's 0.17% gain for the week was tempered after Thursday's warning message from financial leaders in the US, Japan and South Korea regarding the weakness of the Japanese yen and won by South Korea, suggesting the possibility of coordinated intervention. Asian currencies have been hit particularly hard by a stronger dollar. Carol Kong, a currency strategist at Commonwealth Bank of Australia, noted the importance of the joint statement and acknowledged the growing possibility of Asian foreign exchange intervention. However, Kong expressed uncertainty about US involvement, arguing that a stronger dollar would h
Short
by Chart_MasterPro