AXY
EurAud, Potential Inverse H&S, Long ?if it works, will be good profit.
-DYOR
-YTD
Good Luck,
-YusufDeli
AUD pulling back to resistance lineAUD is in bearish trend since 1972...now it broke out of a small bullish mini channel and is going to test its former support, now a resistance. Expect a bearish rally after it reaches the trendline / 200 EMA. At the moment, just for some days, you can go long on AUD pairs (where AUD is a base currency) short where AUD is quote currency as GBPAUD. But keep in mind where the other currency in the pair is going too.
AUD long time index neowAVE SCENARIONext probably motions of AUD index has been shown by neowave counting method... The first TP is 101 unit in the shape of A wave of triangle.... So, in the long time it is practical to rising some symbols such as #AUDJPY
AXY 1D time frame longAXY Already complete it's M pattern. now in my view it's start the journey to long.
audnzd longaudnzd long
audnzd is now in uptrend
create new high
breakout consolidation
trendline
breakout downtrend line
take profit arround 100pips
AUDUSD - When would I get Long?(A) Successful breakout above Upper-Band of Negative Monthly Channel Trend.
(B) Break-Out above and successful back-test of 77 Week Wedge S/R Level at 0.7835.
Aggressive Bulls are currently looking at (B) and weighing up a 2R:R or better on Longs here if 0.7835 back-test holds.
I'm more cautious getting long AUD here and am presently long USD Index. So, I am inclined to wait for a more significant back-test into the .78-.765 area on a weekly timeframe. At that stage there would be increased potential for a deeper move into the .765-.74 Lower-Band of Weekly Positive Channel, so I will reassess again at that stage if we get there. But I feel a long at lower levels would better suit my style of risk management and trade selection process.
However, I will remain open to developments.
REJECTIONWEEKLY/DAILY REJECTION + SHOWING WEAKNESS @200 SMA + 161.8 FIB RETRACEMENT + PRICE HISTORY . LOOKING FOR A NICE SHORT TO MONTHLY SUPP . ADX-DELAYED
Bearish in AUDUSD!!!We are getting to the top resistance on AXY showed in May 14th, 2015 (81.6) and the lowest support on DXY (93.18) in the same day, right now the pair AUDUSD is falling into a trap, so wait to sell until we reach the 0.81630 level to sell, do not risk your earnings, enter with a MACD divergence (3,10,16,CLS).
Safety trade!!
AUDUSDOver bought conditions
broke trend line
Few major horizontal/Trend line resistance areas coming up
Monthly chart shows au might break out upward
to limit risk, I'll move stop loss to break even after 1:1 and have a smaller position than usual.
Australian Dollar Currency Index go to Bullish Australian Dollar Falls No Further On Weaker Leading Indicator
Talking Points:
1. Westpac’s Australian leading index weakened in May
2. However, the Aussie Dollar had already been knocked by Moody’s shock China downgrade
3. Bears didn’t ask for any more
The Australian Dollar was steady Wednesday despite the release of a key leading indicator which weakened this month.
The Westpac Leading Index for May slipped by 0.12% on the month, following a wafer-thin rise of 0.08% in April. This index is aggregated from nine sub-indicators of economic activity and is meant to provide a timely steer on overall economic growth. May’s was the first fall for eight months, but that bald fact disguises a lackluster twelve month run, which has seen plenty of flat months.
The numbers make uncomfortable reading for policy makers and investors but were released about the same time as news broke of a shock credit-rating downgrade for China. Obviously, China is a major commodity export destination for Australia’s raw materials. However, with AUD/USD already lower in response to Moody’s move, it seems there was little further selling after Westpac made its call.
The Reserve Bank of Australia for its partseems to be looking more at Australian house prices and wage levels as its immediate monetary policy markers. Like other commodity-linked central banks it has fretted that overseas support such as that from China may fade. Local interest-rates are already at record lows and not expected to rise this year.
AUD: Next Few Days Will Be CriticalHey traders, look for consolidation in the Australian dollar next week. My bias is toward the downside since we're channeling down on the short term. Breakout to the upside cannot be ruled out. We will see in the upcoming couple of days.
