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Aussiedollar

ORBEX AUDUSD: Correction to Wave (4) Could Validate Bears!I am not certain whether the current structure on the AUDUSD structure is corrective or not. Fibo levels suggest it is, but this could be easily invalidated. It is a minor 5 down to 0.6676 and either a a) reversal, where an impulse 5-wave move is going to take place, or a b) correction that is going to complete intermediate wave 4 and head lower near 0.66 -(100% FE of intermediate wave 1, or else, duplication of intermediate wave 1). Since we have not received an invalidation at the 0.7000, or a sign of a stronger bullish bias as of yet by breaking outside the descending channel, I analyse scenario b). In case prices stop by the descending trendline resistance or at 70c. and reverse down, the chances of reaching 66c would increase. The validation would be supported after a successful breakout below the previous low at 0.6676. Should bears take over once again we could head minimum down to 0.6800 nevertheless. Stavros Tousios Head of Investment Research Orbex This analysis is provided as general market commentary and does not constitute investment advice.
Short
by Orbex
AUDJPY - THE TREND IS YOUR FRIEND (AUDJPY)Hello friends. For some time now, AUDJPY has been downtrending after finding it's place under the .236 speedfan resistance. Now, a short term rally may provide us with an opportunity to cash in on this trend once again. Now, this trade IDEALLY would have been taken at the 62% retrace - 88~ Already, we have touched the 127% extension. I believe this rally is a result of grinding against the fib circle shown on the chart. This trend is strong, so I see no reason why the 162% extension can't be our new target. At least, I expect a retest of the 127% extension. A good entry would perhaps be a retest of the 0 line of the impulse wave - 76. Stop loss would be a breakout of the .236 resistance. Careful here, we could see a pop to the top of the channel. This trade isn't beautiful, but with a 3.13 RRR I think we can take it just fine. Smaller positions will do well here. Good luck traders.
Short
by vox-populi
Aussie: Bulls Very Strong!Hello dear Forex friends, hope you're doing well guys! Our last analysis was spot on, as we've correctly identified the bottom bounce. Now after this huge bull move up, we can expect the bulls to pause, but they're still very strong if we look at the Daily consolidation with the Doji's. Have fun watching! ;) If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my analyses! I wish you a good trading! :) Edgy is providing online education only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
Long
by Edgy_
Australian dollar possible short term upwards correction Australian dollar possible short term upwards correction but are we going to see a continuation of the down trend? The Australian dollar has been under pressure from a strong USDOLLAR and persistent weakening of monetary policy in the region. I'd expect to see some pullback here and see what happens as it could continue sharply lower as we have seen this year. If we continue making higher highs expect a quick return to the 0.695 where a test will be made a probably test the low again.
by lavishlunch
Navigating The Market : Trading Plan #AUDNZDThere was liquidity run as anticipated yesterday. Price stayed around in that pool and barely got out to make a meaningful trigger for me to Long AUDNZD. As Tokyo opens, we saw price breaks through above Friday's low suggesting it could be time for price expansion after accumulation. Having said that though, there will be risk events in 7 minutes as of i'm writing now, Retail Numbers for Australia. Fantastic time for the institutions doing some stop hunts. I will be looking for a quick tap downside, another tap into the liquidity pool. 12.30pm (Singapore time) there will be Australia Cash Rate (another best time for tapping in those sell stops down below!), I am expecting they will hold their rate at 1.00% and whatever it is they plan next month have been fully priced in The actionable from this : Long AUDNZD when : Price close above the filter line OR Price makes another move to the downside (close below Monday Low) and wait for another bullish trigger (which would opt me to draw a new Filter line). I love the latter plan better.
Long
by sufiansaid
3
Navigating The Market : Simplified #AUD NZD 2nd Sept 19The AUDNZD had been in a bullish trend since price bounced off at 1.0280 on 6th August 2019. That bullish move day followed by a massive price expansion the vary next day (230 pips!) thanks to RBNZ cutting their rates from 1.25% to 1.00%. NZD had been in a massive sell off across the board since then. Retail sentiment on NZD however, remains bullish NZD. Indeed, retail sentiment is looking for that reversal- believing the marked have priced in the RBNZ move. Never a good idea. I am bearish on the NZD due to the following three things : 1) I am (trying) a contrarian trader. I generally look to trade the other side of the general retail sentiment. NZD is heavily bid in retail, so I am keen to be the in the other side (this is too simplistic and binary, I know. This is not the only parameter that influences my bias) 2) Simply look at the chart, we are in an uptrend. Stick a long term moving average there (50MA, 60MA, 67MA, 82MA, 86MA etc etc), price is trading well above that. It is tempting to trade reversal after a long trend, picking tops (and bottoms if its in a bearish trend). I am somewhat a trend following trader, discretionary. At the moment, its not the optimal time to think of shorting AUDNZD. 3) The monthly range and weekly range was reached and exceeded. Now, usually, when this happens I would shift my short term bias to a reversal mode - as liquidity "dries out" and it would the time for the banks to take profit but I believe it was due to the fundamental factor (RBNZ cutting rates), so I will maintain my sentiment bias for now. 4)I believe there will be liquidity run this week between 1.0700 to 1.07300. Plenty of potential retail buy stops there, oceans of them. Liquidity Pools are like magnets. My plan, since I am bearish NZD, is to long AUDNZD when the usual stop hunts have been completed. I expect a stop hunt (another form of liquidity run) at 1.06500-1.06350 in the downside and then I will find a trigger to long AUDNZD. Alternatively, if the price goes up first and tap around 1.0700, I would have to assume its for trapping breakout traders and then they will take their stoploss out at 1.06500-1.06350 - in which by then, I will be looking to long AUDNZD from there. If price continues through without touching the liquidity pool coincided at theFriday low, then I will stay on the sidelines and re-adjust my plan.
Long
by sufiansaid
5