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Australiandollar

AUDCAD Sell signal emerging on a 3.5-year Resistance!The AUDCAD pair just hit on the week's opening the Lower Highs trend-line that was first initiated on February 22 2021. As the 1W RSI is just below its own 3.5-year Resistance Zone, the first strong long-term sell opportunity flashes. Check below how the last AUDCAD analysis (May 29, see chart below) provided an excellent buy opportunity: The more short-term pattern though since the September 25 2023 Double Bottom is a Channel Up and it is close to pricing its new Higher High. This is just above the 3.5 year Lower Highs trend-line, so we give the sell signal this much tolerance level for some deviation. Our Target on the medium-term is 0.9000 (Support Zone 1, similar symmetry to the previous Higher Low on Support Zone 2). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
1
AUD breaking out of downtrendAUD/USD Breaks Key Resistance Overview: The FX:AUDUSD pair has shown significant signs of a trend reversal after being in a downtrend since 2021. The pair reached a low just below $0.62 and has since made a strong recovery. Key Technical Points: 1. Trend Reversal: - The pair has broken out of the descending trendline that has been intact since 2021. - This breakout is a crucial signal indicating a potential shift from the prolonged bearish trend to a bullish phase. 2. Moving Averages: - The price has successfully crossed above the weekly 50-period Moving Average (50MA), which often acts as a significant resistance level. - The next key target is the weekly 200-period Moving Average (200MA). The convergence of the 200MA with the Fibonacci retracement levels adds to its importance as a resistance zone. 3. Fibonacci Retracement Levels: - The price is currently approaching the 0.382 Fibonacci retracement level. A successful breach of this level could propel the pair towards the 0.618 retracement level. - The 0.618 Fibonacci level aligns closely with the 200MA, making it a critical resistance zone. This confluence strengthens the resistance at this level, which lies around the $0.72 area. 4. Key Resistance and Support Levels: - Resistance: The immediate resistance is at the 0.382 Fibonacci retracement level. Beyond this, the $0.72 zone, which coincides with the 0.618 retracement and the 200MA, is the next major resistance. - Support: On the downside, the broken trendline and the weekly 50MA now act as crucial support levels. Additionally, the $0.62 level, which marked the recent low, remains a significant support zone. Outlook: The breakout above the downtrend line and the 50MA, coupled with increasing volume, suggests a bullish outlook for the AUD/USD pair. If the pair manages to break above the 0.382 retracement level, it could head towards the $0.72 area, which is reinforced by the 0.618 Fibonacci level and the 200MA. Traders should watch for consolidation around these key levels and the reaction at the $0.72 zone to gauge the sustainability of this bullish trend. Conclusion: The AUD/USD pair's technical landscape has shifted favorably for bulls after a prolonged downtrend. The current breakout and the crossing of key moving averages signal potential for further upside. However, traders should remain cautious around the $0.72 resistance zone, as it represents a critical juncture that could determine the next phase of the trend.
Long
by CryptoFallen
AUDJPY Approaching the long-term Sell ZoneThe AUDJPY pair gave us an excellent short-term sell signal last time (May 23, see chart below) but after that broke above the medium-term Channel Up aggressively: We now need to zoom out to the longer term 1W time-frame, where we clearly see the dominant pattern of the pair, which has been a Channel Up since the March 16 2020 (COVID) market bottom. Each Higher High was formed when the 1W RSI started forming a Bearish Divergence on Lower Highs. The 1st Bullish Leg was priced after a +32.90% rise, while the 2nd one at +26.70%. As a result, with the 1W RSI overbought above 70.00 for the 2nd time in 6 weeks, we believe that the pair is approaching its long-term Sell Zone on the Higher Highs region. Its Higher Lows have been priced near or on the 1W MA100 (green trend-line), so we will take this sell opportunity to target 101.000 (expected contact and breach of the 1W MA50 (blue trend-line)). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
AUDUSD Medium-term sell signalThe AUDUSD pair has been trading sideways since the May 16 High, supported by the 1D MA50 (blue trend-line). The dominant pattern has been a Triangle going back to the October 13 2022 market bottom and the current consolidation is taking place right at the top (Lower Highs trend-line) of the pattern. As you can see, this is quite similar to the Q2-Q3 2023 price action, which after the Triangle top rejection, it declined below the 1.236 Fibonacci extension. Even the 1D RSI sequences between the two fractals look similar. As a result, we turn bearish on this pair, targeting 0.63450 (Fib 1.236 ext). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
1
AUD/USD: Potential swing trade long setupAUD posted a strong rally of 5% from the April low, before 67c capped as resistance. A choppy rage has since formed between 66c-67c, although it could also be a bull flag in the making. Whilst we wait for it to decide which of the two it is, we're looking at a cheeky swing trade long idea heading into the weekend. The 1-hour chart shows a strong rally from US CPI, and recent prices action has retraced against that move. Prices are stabilising around the 20-day EMA, so perhaps it is close to a swing low. The bias is bullish whilst prices hold above the monthly pivot point (0.6610), but tighter risk management could be used if momentum turns higher (such as the recent swing lows). The initial target is near the upper 1-day implied volatility band of 0.6657.
Long
by CityIndex
AUDCHF Bottom of Channel Up. Buy opportunity.The AUDCHF pair gave us a solid sell signal last time (April 05, see chart below) but then broke above and established a Channel Up: The price is now at the bottom (Higher Lows trend-line) of that Channel Up, below the 1D MA50 (blue trend-line), calling for a short-term buy amidst the start of the next Bullish Leg. On top of that, the RSI is approaching its 1-year Support Zone, which every time it was touched, the price rallied by at least +4.50%. As a result, we remain bullish as long as the 1D MA200 (orange trend-line) is intact and attempt a first buy now, targeting 0.61750 (+4.50%). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
EURAUD Still bearish within the Channel Down.This is basically an update to our last EURAUD analysis (April 05, see chart below) two months ago: As you can see the price was rejected at the top of the 1-year Channel Down but since May 07 has turned sideways. In fact, looking at the 1D RSI, we see a Higher Lows Bullish Divergence since April 09, while the price was on Lower Lows. This is similar to the Higher Lows that started on December 01 2023 and resulted in a Bullish Leg of +3.39%. As a result, we are taking profit on our sell position and open a buy, targeting 1.6550 (top of the so far dominant Channel Down). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
1
GBPAUD Sell every riseThe GBPAUD pair eventually hit our 1.9000 Target after our latest sell signal on April 04 (see chart below): The price is now consolidating around the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line) cluster, imitating the late October 2023 consolidation. As long as it stays below the Lower Highs Zone, is will initiate in our opinion the periodic Bearish Leg towards the 1-year Higher Lows trend-line (green Cup). Our medium-term strategy involves targeting the 1.89100 Support for lower risk. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
AUDNZD Know when to buy and sell. Strong pattern ahead.The AUDNZD pair is currently consolidating exactly on the 1D MA200 (orange trend-line) following the May 07 rejection near Resistance 1, which resulted in a strong sell-off. We expect this sell-off to extend at least as low as the 0.618 Fibonacci retracement level (blue) and then rebound towards the Symmetrical Resistance Zone, approximately on the upward 0.618 Fib (black). Our long-term Target is eventually 1.06600 (near Support 1). Our projection is based on the similar price action of June- July 2023. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
1
AUDCAD About to test the 1W MA200 after more than 1 year.The AUDCAD pair has been on a structured rise since the September 25 2023 Bottom, which technical is a Double Bottom formation for the long-term. The price is about to test the 1W MA200 (orange trend-line) for the first time since the week of March 20 2023 as well as the Lower Highs trend-line that started on the February 22 2021 High. Every time the pair approached the 1W MA200 to this distance, it broke above it, even just for the medium-term. We expect a similar development, which would be conveniently a Lower Highs test. Our Target is 0.92250. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
AUDJPY Channel Up topped. Sell signal.The AUDJPY pair reached the top of its long-term Channel Up, while at the same time the 1D MACD is about to complete a Bearish Cross today. This is a strong sell signal combination and the minimum decline that the pair has within this Channel Up on a pull-back, has been -1.84%. As a result our short-term Target is 102.650. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
AUDCAD:🔴Bearish scenario...!🔴 Hello Traders As you can see the price purged the daily buy-side liquidity and then the market structure was shifted on the hourly chart. Now the price is inside a range, creating the double purge scenario for us. If the price sweeps the buy side liquidity first, it is a chance to enter the sell position with LTF confirmation. 💡Wait for the update! 🗓️10/05/2024 🔎 DYOR 💌It is my honor to share your comments with me💌
Short
by VahidTradingCR
3
AUDUSD: Technical Impact of Core Inflation DataThe release of core inflation rate data in the United States can impact the AUD/USD exchange rate, especially on a weekly timeframe, due to its influence on market sentiment and monetary policy expectations. Firstly, let's break down the core inflation rate. Core inflation measures the change in the price of goods and services, excluding volatile items like food and energy. It's a crucial indicator for central banks, like the Federal Reserve in the U.S., as it provides insight into the underlying inflationary pressures in the economy. When the core inflation rate in the U.S. rises, it typically signals increasing demand for goods and services, which can lead to expectations of tighter monetary policy. Central banks may respond to rising inflation by raising interest rates to cool down the economy and prevent overheating. Higher interest rates make the U.S. dollar more attractive to investors, leading to an increase in its value relative to other currencies like the Australian dollar (AUD). Conversely, if the core inflation rate in the U.S. falls below expectations or remains subdued, it may indicate weak consumer demand or excess capacity in the economy. In such cases, the Federal Reserve might consider maintaining or even lowering interest rates to stimulate economic activity. Lower interest rates can decrease the attractiveness of the U.S. dollar to investors, causing it to weaken against other currencies like the AUD. Now, let's apply this to the AUD/USD exchange rate on a weekly timeframe. When the U.S. core inflation rate exceeds expectations, it could lead to a strengthening of the USD against the AUD. Traders and investors may anticipate tighter monetary policy from the Federal Reserve, leading them to buy USD in anticipation of higher interest rates. This increased demand for USD relative to AUD can cause the AUD/USD exchange rate to depreciate over the weekly observation period. On the other hand, if the U.S. core inflation rate disappoints or falls short of expectations, it could weaken the USD against the AUD on a weekly basis. Traders and investors may interpret this as a sign that the Federal Reserve might maintain or even cut interest rates to support economic growth. Consequently, there could be increased demand for AUD relative to USD, leading to an appreciation of the AUD/USD exchange rate over the weekly timeframe. In addition to the fundamental factors discussed, the impact of the release of U.S. core inflation rate data on the AUD/USD exchange rate can align with technical analysis considerations. Technical analysis involves studying historical price movements and patterns to forecast future price movements. When considering technical factors, if the current price of the AUD/USD pair is approaching a significant resistance level on the weekly timeframe, traders may anticipate a potential reversal or pullback. This resistance level could be identified through various technical tools such as trendlines, chart patterns, or Fibonacci retracement levels. Given this technical setup, there are two possible scenarios to consider: Immediate Pullback: If the AUD/USD exchange rate is nearing a resistance level at the time of the release of U.S. core inflation data, traders may expect a direct pullback in price during the same week. This pullback could occur as traders take profits or adjust their positions in response to the resistance level, coupled with the fundamental influence of the inflation data. Bullish Momentum Followed by Pullback: Alternatively, if the AUD/USD exchange rate has bullish momentum and continues to rise after the release of U.S. core inflation data, it may temporarily break above the current resistance level. Traders might anticipate the pair reaching the next resistance level before experiencing a pullback. This scenario could occur if market participants interpret the inflation data as less hawkish than expected or if other factors, such as risk sentiment or economic indicators, support bullish AUD/USD movement.
Short
by DNP-FX
2