Due to the reason that the Jackson Hole symposium will offset any pair, which involves the US Dollar, the choice to review the GBP/AUD currency exchange rate was up for dissection. The pair is approaching the lower trend line of the most dominant ascending channel pattern, which coincides with the support of the monthly S1 at the 1.6150 mark. In addition, the...
During the second half of Monday’s trading session the Australian Dollar had reconfirmed the lower trend line of an ascending channel pattern against the US Dollar. After the reconfirmation the pair was also supported by the 55-hour SMA, which approached the support line of the ascending pattern. By looking at the various levels of significance, it can be stated...
The patterns of the AUD/USD currency pair, whose existence was speculated on Wednesday, have fully revealed themselves on Thursday. First of all, it can be seen that the junior descending channel pattern’s borders needed to be adjusted. Secondly and most importantly, the medium term channel was spotted. In general, the currency exchange rate has hit the combined...
The Australian Dollar has broken out of the short term triangle pattern to the downside against the US Dollar. Due to that reason a full review of the situation on the pair’s charts has been done. First of all it can be noted that the breakout to the downside could have been forecasted by examining the large scale situation and identifying a large scale ascending...
As we can see, correction of the last wave has finished. Now we can expect a new bullish impulse at least till 87.00 level. If this level is broken, a new bullish wave will probably appear.
Much of the downwards movement has already been done for for this section of trading, however still some profit to be made on the sell till point .99632
Pending order if price breaks back below the fib zone. Reasonable target. We'll see how it plays out.
With no economic releases in Australia today, investor sentiment would be governed by global macroeconomic factors. This morning, the pair traded at a high of 0.7580 and a low of 0.7534. In the long-term, we are waiting for further signs that the current downtrend is ending. Key supports stand at 0.6009 (31/10/2008 low) . A break of the key resistance at 0.8295
Massive MACD divergence on H4. Decent triple top on H1-H4. Daily rejection of key level. FIRST TRADE PLACED ON MY NEW TRADING ACCOUNT. 2% RISK. LETS GO
There is a possible short in this pair considering that in time chart the price has fallen below the cloud, however, we must monitor the behavior against the EMA 200. A Fibonacci retracement of 23% is foreseen, but considering that the Tenkan Sen is flat before this level, has been set as the target 0.76043
Looks like range trading has a good chance to happen this time just about enough to complete the formation for a continuing bullish channel. Short anywhere near .78102 and close near .6900; meanwhile take a long at .6900 and hold long term til profit satisfies you.
Talking Point: Technical Strategy : Turning Bearish Elliottwave View: Expecting completion of wave (C) of c. Analysis AUDCAD was trading sideway from Aug-2013. We were seen May-2015 a declined again but unable to takeout Aug-2013 low in impulse manner. We experienced a bounce from 9170 area in May-2015. However, upside was corrective and can be counted as...
Interesting situation for the pairs, in addition to return to the previous low, shows a regular divergence. Follow the situation closely, waiting for a confirmation from the price action.
Price movements in the Australian dollar showed important signals. We are facing a major area of resistance and a long-term dynamic support. The breakout of one of these levels would lead to important signals for our future operability. Follow closely what will happen in this price compression.