A lowering of U.S. interest rates may be necessary, but the downside risk is a weaker USD. And a significantly weaker dollar may cause inflation to creep back up again. Today, I will share a little hack on how to track and preempt the U.S. dollar’s direction. To conclude: Long-term - Down Mid-term - Range to a breaking point Currencies Futures and Options...
After completing a 5-wave EW impulse pattern, GBP/AUD correction has been started around the 2.00 zone. since then the price dropped until reached 1.933 where the previous resistance exists (which made it into support after breaking). Yesterday, after releasing good fundamental data from AUD, the price started to drop again from 1.94100. We believe the price will...
AUD/JPY is falling towards the pivot and could reverse to the 1st resistance which acts as a pullback resistance. Pivot: 97.55 1st Support: 95.12 1st Resistance: 101.33 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all...
EURAUD - 24h expiry The medium term bias remains bearish. Rallies continue to attract sellers. Risk/Reward would be poor to call a sell from current levels. Preferred trade is to sell into rallies. Bespoke resistance is located at 1.6690. We look to Sell at 1.6690 (stop at 1.6750) Our profit targets will be 1.6540 and 1.6500 Resistance: 1.6690 / 1.6740 /...
Hey Traders, in today's trading session we are monitoring AUDNZD for a buying opportunity around 1.10150 zone, AUDNZD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 1.10150 support and resistance area. Trade safe, Joe.
Hey Traders, in today's trading session we are monitoring AUDUSD for a selling opportunity around 0.66000 zone, AUDUSD was trading in an uptrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 0.66000 support and resistance zone. We would like to consider the current bearish bias on...
AUD/USD is falling towards the support level which is an overlap support that is slightly below the 38.2% Fibonacci retracement and could potentially bounce from this level to our take profit. Entry: 0.6567 Why we like it: There is an overlap support level which is slightly below the 38.2% Fibonacci retracement. Stop loss: 0.6514 Why we like it: There is a...
AUD/CHF is reacting off the pivot which has ben identified as an overlap resistance and could drop to the overlap support. Pivot: 0.57216 1st Support: 0.55944 1st Resistance: 0.58223 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be...
AUD/CAD is falling towards the support level which is a pullback support that lines up with the 23.6% Fibonacci retracement and could bounce from this level to our take profit. Entry: 0.90606 Why we like it: There is a pullback support level which aligns with the 23.6% Fibonacci retracement. Stop loss: 0.90024 Why we like it: There is a pullback support level...
The Aussie (AUD/USD) is reacting off the pivot and could potentially drop to the 1st support which acts as an overlap support. Pivot: 0.6636 1st Support: 0.6567 1st Resistance: 0.6711 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be...
AUD/USD Eyes Key Data After Breaking 0.6600 The AUD/USD extended its rally passed the critical 0.6600 mark to hit new three-week highs. Traders now turn their attention to the upcoming Australian Consumer Inflation Expectations and Unemployment. The pair faces immediate resistance at the 200-day moving average, followed by the 0.668 level. On the downside,...
The AUD/USD pair has shown signs of recovery after dipping to the 0.63500 level, with the price currently rising around 0.6595. This rebound is partly fueled by the US Dollar (USD) facing challenges due to growing expectations of a potential interest rate cut by the Federal Reserve (Fed) in September. However, the pressure on the USD might ease as the likelihood...
15m: Marked the latest supply / strong resistance zones @15m Killzones: Plan A (51% probability): The market is likely to sweep the entire buy-side liquidity and then move towards a bearish trend. Plan B (49% probability): If there's a potential supply-to-demand flip, the market is likely to move bullish. Based on 15m clear confirmations after the liquidity...
The AUD/USD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Channel pattern. This suggests a shift in momentum towards the downside in the coming Hours. Key Points: Sell Entry: Consider entering a short position around the current price of 0.6584, positioned close to the breakout level....
Potential Trade Setup on AUDCAD The price broke out of a strong resistance zone and a long-used Trendline and turned support multiple times. The price is developing, and I am waiting for a break above the resistance to go LONG. Alternatively, if the price breaks below support, then there will be an opportunity to go SHORT if the broken support is retested and...
15m: A bearish Break of Structure (BoS) is clearly visible after the buy-side liquidity sweep. I've marked the bearish leg and identified a valid supply zone. I'm now waiting for a sell-side liquidity sweep to enter a long position until market mitigates the above supply zone. After the supply zone is mitigated or buy-side lq sweep, will wait for a bearish...
EUR/AUD is falling towards the support level which is a pullback support and could bounce from this level to our take profit. Entry: 1.65058 Why we like it: There is a pullback support level. Stop loss: 1.63955 Why we like it: There is a pullback support level. Take profit: 1.67665 Why we like it: There is an overlap resistance level which aligns with the 38.2%...
AUD/USD has reacted off the pivot which has been identified as a pullback support and could rise to the 1st resistance level which is also a pullback resistance. Pivot: 0.6567 1st Support: 0.6515 1st Resistance: 0.6634 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose....