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Aussie

AUD/USD -3/5/2023-• Despite the hawkish surprise by the RBA yesterday, raising interest rates unexpectedly we are experiencing a fading momentum of the bullish reaction • Reason behind this might be lack of conviction within the buyers • US Dollar strength is back in the markets amid renewed fears amid banking woes and recession adding to that pricing of a continued Federal Reserve tightening policy • Technically, picture doesn't seem really bright on the daily chart for the following reasons: 1- A potential head and shoulders pattern can be spotted and drawn on the chart 2 - 20 SMA is acting as a resistance with price unable to cross and close above it 3- The up trend support line which has been broken back in March has been re-tested from below several times with continuous rejection 4- Keep in mind that whether H&S pattern or any other, they have chance of failure and are subjective (other traders might see an inverse H&S on the same chart) 5- 0.6570 is the immediate strong support and longs can still be valid above that level with stops below it 6- After hitting a daily high of 0.67 following RBA surprise hike, we have seen some profit taking throughout the day and this might have happened due to the FED rate decision tomorrow and traders getting out of their positions while waiting for the outcome Traders, if you like this idea please comment and like ✅ Here to answer all your questions, Good luck
by RamziAbouAbdallah-CMT
EUR/AUD in focus for RBA meeting and eurozone CPIWith the RBA due to meet and eurozone CPI data released tonight, EUR/AUD has caught our eye. It remains within a strong uptrend on the daily chart, although a bearish-outside day ahs slammed prices down to a 4-day low. But we’re keen on long opportunities if prices can remain above 1.6400, given the levels of technical support nearby including the 2021 high, 10/20day EMA’s and monthly pivot point. The initial target is 1.6800, a break above which brings the 1.7000 handle into focus.
Long
by CityIndex
AUDCAD LongsI'm liking AUDCAD longs for a few reasons. Technical wise we have broken structure and we have a fib at the 61.8 from the swing high to swing low.. Looking at everything from a fundamental standpoint, there is a lot of optimism around the Aussie gaining strength from China reopenings, as well as a Hawkish RBA. Canada on the other hand has decided to pause rates and might continue to do so if the BoC see that inflation is starting to decelerate as well. This trade might take some time as most aussie pairs are slower but overall I like this trade.
Long
by EricDowdell
AUD/JPY 3-wave rally stalls at resistanceA 3-wave rally has stalled at the 200-day EMA with a bearish Pinbar. This begs the question as to whether we've seen the end of an ABC correction and the cross is to now break to new lows. Perhaps. But over the near-term, yen strength is favoured due to sticky inflation data from Japan, rumours that the BOJ are considering tweaking their YCC band later this year and a slight risk-off tone due to concerns over tighter liquidity and the US debt ceiling. - The bias remains bearish beneath 90.25 - Next target is around the lows near 89.00
Short
by CityIndex
AUDCHF: Your Trading Plan For Today 🇦🇺🇨🇭 AUDCHF is approaching a key horizontal resistance. The price formed a double top on that on 4H. 0.6026 - 0.603 is its neckline. To short with a confirmation, wait for a bearish breakout of a neckline. 4H candle close below will confirm a violation. Short aggressively or on a retest then. Goals will be 0.601 / 0.5995 If the price sets a new high, the setup will become invalid. ❤️Please, support my work with like, thank you!❤️
Short
by VasilyTrader
4
AUDUSD Shows Resumption Of A Bearish TrendUS CPI came out better than expected last week at 5.0%, so we have seen some USD weakness at the start of the week, but then some of the losses got erased on Friday, after FED officials said that there is room for another interest rate hike. Metals also came down, and put some bearish pressure on Aussie as well. The pair has a sharp drop from 0.6805 which suggests that the pair will see more weakness ahead as A-B- C correction can be finished.
by ew-forecast
Joe Gun2Head Trade - Major resistance EURAUDTrade Idea: Selling EURAUD Reasoning: Major resistance on the daily. Entry Level: 1.63764 Take Profit Level: 1.6226 Stop Loss: 1.6447 Risk/Reward: 2.28/1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
Short
by Signal_Centre
AUD/CHF could be headed for the April 2020 lowAUD/CHF is within an established downtrend on the daily chart, and the current dynamics present a divergent theme which could send it lower from here. Yesterday closed with a bearish engulfing candle at its lowest level since April 2020. The moving average remain 'within order' and fanning out, and the 10-day EMA is now capping as resistance as prices try to accelerate away from the averages. The monthly S1 pivot sits around 0.5975 and the RSI is oversold, so we may see a period of consolidation or minor rebound from S1. But the bias remains bearish below 0.6100 and for an eventual move towards the April 2020 low.
Short
by CityIndex
Joe Gun2Head Trade - AUDJPY correcting?Trade Idea: Selling AUDJPY Reasoning: Start of a C leg lower? Entry Level: 88.91 Take Profit Level : 87.60 Stop Loss : 89.35 Risk/Reward: 3:1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
Short
by Signal_Centre