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Australia

Overall view of AUDUSD - Update of July 15th's weekThe currency pair have consolidated since for 1 month with clear supply and demand levels. After a false breakout on July 9th, AUDUSD reentered back the previous consolidation zone by a bull spike. However a decline of inventories including short-retail traders could display an upcoming bearish pressure since we are close to the support zone. Possible Targets: @0.70500 (+25 pips) Advice: Stay bullish and buy any low points while we don't break downside @0.69800 level.
Long
by Theperfectionist
ASX: Australian stocks approaching a peak.The ASX Ltd is on a very strong bullish monthly streak having gained over +25% in 2019 alone. It appears to be trading inside a 20 year Channel Up that displays all phases of a Bubble (aggressive rise, blow-off, consolidation) from Higher Low to Higher. Currently it is near the end of the bullish leg towards a new Higher High (peak) which is projected within 80.00 - 84.00 towards the end of 2019 (based on a 1702 day Bubble Duration). All charts are overbought (or close to) from 1D (RSI = 72.582) to 1W and 1M (RSI = 76.630 and 73.368 respectively) indicating that the peak of the bubble is indeed near and should be achieved on this final 2019 push. Our strategy is to buy on every dip until this Target Zone. Then depending on circumstance and mostly global trade dynamics, we will most likely start building up a short base but updates will follow. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
ASX:ASXLong
by InvestingScope
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