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6A1! trade ideas

AUSTRALIA DOLLAR Futures (6A1!), H4 Potential for Bearish DropType: Bearish Drop Resistance: 0.69610 Pivot: 0.68560 Support : 0.67920 Preferred Case: On the H4, with the price moving below the ichimoku cloud, we have a bearish bias that the price may drop from the pivot at 0.68560, which is in line with the swing low and 61.8% fibonacci retracement to the 1st support at 0.67920, where the 78.6% fibonacci retracement , 78.6% projection and previous swing high are. Alternative scenario: Alternatively, price could rise to the 1st resistance at 0.69610, where the overlap resistance and 38.2% fibonacci retracement are. Fundamentals: Construction Work Done q/q, showing -3.8%, dropped significantly from last period and forecasted, which has negative impact on overall employment and spending.
CME:6A1!Short
by Genesiv
Potential Bullish ContinuationTitle: AUSTRALIAN DOLLAR FUTURES (6A1!), H4 Potential for Bullish Rise Type : Bullish Rise Resistance : 0.69555 Pivot: 0.68620 Support : 0.68100 Preferred Case: On the H4, with prices moving above the ichimoku indicator and breaking out of the descending channel , we have a bullish bias that price will rise from the pivot at 0.69295 where the overlap support is. If price breaks above the intermediate resistance at 0.69830 at the swing high in line with the 78.6% fibonacci retracement, we will have upside confirmation that price will continue to rise to the 1st resistance at 0.70705 in line with swing high. Alternative scenario: Alternatively, price may break pivot structure and drop to the 1st support level at 0.68600 in line with the overlap support. Fundamentals: Following Gov Lowe’s comments regarding an expectation for inflation to reach 6 to 7% and the requirement for further interest rate increases, we have a bullish bias on the Australian Dollar.
CME:6A1!Long
by Genesiv
AUSTRALIAN DOLLAR FUTURES (6A1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 0.69555 Pivot: 0.68620 Support : 0.68100 Preferred Case: On the H4, with prices moving above the ichimoku indicator and breaking out of the descending channel , we have a bullish bias that price will rise from the pivot at 0.68620 where the overlap support is to the 1st resistance in line with swing high resistance and 127.2% fibonacci extension . Alternative scenario: Alternatively, price may break pivot structure and drop to the 1st support level at 0.68100 in line with the pullback support, 61.8% fibonacci projection and 50% fibonacci retracement . Fundamentals: Following Gov Lowe’s comments regarding an expectation for inflation to reach 6 to 7% and the requirement for further interest rate increases, we have a bullish bias on the Australian Dollar.
CME:6A1!
by Tickmill
AUSTRALIAN DOLLAR FUTURES (6A1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 0.69555 Pivot: 0.68620 Support : 0.68100 Preferred Case: On the H4, with prices moving above the ichimoku indicator and breaking out of the descending channel , we have a bullish bias that price will rise from the pivot at 0.68620 where the overlap support is to the 1st resistance in line with swing high resistance and 127.2% fibonacci extension . Alternative scenario: Alternatively, price may break pivot structure and drop to the 1st support level at 0.68100 in line with the pullback support, 61.8% fibonacci projection and 50% fibonacci retracement . Fundamentals: Following Gov Lowe’s comments regarding an expectation for inflation to reach 6 to 7% and the requirement for further interest rate increases, we have a bullish bias on the Australian Dollar.
CME:6A1!
by Tickmill
AUSTRALIAN DOLLAR FUTURES (6A1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 0.69555 Pivot: 0.68620 Support : 0.68100 Preferred Case: On the H4, with prices moving above the ichimoku indicator and breaking out of the descending channel, we have a bullish bias that price will rise from the pivot at 0.68620 where the overlap support is to the 1st resistance in line with swing high resistance and 127.2% fibonacci extension. Alternative scenario: Alternatively, price may break pivot structure and drop to the 1st support level at 0.68100 in line with the pullback support, 61.8% fibonacci projection and 50% fibonacci retracement. Fundamentals: Following Gov Lowe’s comments regarding an expectation for inflation to reach 6 to 7% and the requirement for further interest rate increases, we have a bullish bias on the Australian Dollar.
CME:6A1!Long
by Genesiv
AUSTRALIAN DOLLAR FUTURES (6A1!), H4 Potential for Bearish DropType : Bearish Momentum Resistance : 0.67660 Pivot: 0.67175 Support : 0.66485 Preferred Case: On the H4, with RSI moving along the descending trendline and price moving along the descending trendline, we have a bearish bias that price will drop to the pivot at 0.67175 where the 127.2% fibonacci extension, 100% fibonacci projection and swing low support are. Once there is downside confirmation of price breaking pivot structure, we would expect bearish momentum to carry price to 1st support at 0.66485 where the 161.8% fibonacci extension and 100% fibonacci projection are. Alternative scenario: Alternatively, price may rise to the 1st resistance at 0.67660 where the overlap resistance is. Fundamentals: There was an increase in employment rate and decrease in unemployment rate for AUD today, giving us a bullish bias for the Australian Dollar. We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
CME:6A1!Short
by Genesiv
AUSTRALIAN DOLLAR FUTURES (6A1!), H1 Potential for Bearish DropType : Bearish Momentum Resistance : 0.68560 Pivot: 0.67685 Support : 0.66595 Preferred Case: On the H1, with price moving below the ichimoku cloud and along the descending trendline , we have a bearish bias that price will drop to the pivot at 0.67685 in line with the swing low support and 78.6% fibonacci projection. Once we have downside confirmation that price has broken past pivot structure, we would expect bearish momentum to carry price to the 1st support at 0.66595 where the -61.8% fibonacci expansion and 78.6% fibonacci projection are. Alternative scenario: Alternatively, price may rise to the 1st resistance at 0.68560 where the pullback resistance is. Fundamentals: Due to the Euro dollar dropping, we have a bearish bias of the australian dollar.
CME:6A1!Short
by Genesiv
Potential Bullish ContinuationTitle: AUSTRALIAN DOLLAR FUTURES (6A1!), H4 Potential for Bullish Momentum Type : Bullish Rise Resistance : 0.70605 Pivot: 0.68735 Support : 0.68360 Preferred Case: On the H4, with price breaking the descending trendline and moving in an ascending trendline on our RSI, we have a bullish bias that price will rise from the pivot at 0.68735 at the multiple swing low to the 1st resistance at 0.70605 at the overlap resistance in line with the 50% fibonacci retracement. take note of intermediary resistance at 0.72660 at the multiple swing high in line with the 50% fibonacci retracement and 78.6% fibonacci projection. Alternative scenario: Alternatively, price may reverse off the pivot and drop to the 1st support at 0.68360 at the horizontal swing low in line with the 100% fibonacci projection and 61.8% fibonacci projection. Fundamentals: Following concerns on commodity prices, we have a bearish bias that price will continue dropping further.
CME:6A1!Long
by Genesiv
A Kangaroo Hop!Things seem to be going well down under. With Iron Ore prices jumping close to 8% last week, Australia, the largest exporter of the raw material stands to benefit greatly. In 2021, Iron Ore exports totaled close to US$120 billion. This contributes greatly to the demand side pressure on the Australian dollar. Looking at the charts, the AUDUSD pair is currently trading at the bottom of the channel support on the 1-hr time frame. With the 200-period moving average right below current levels, we think downside resistance will prove strong and prices will bounce off the bottom of the rising channel quickly. Stay tuned to the Reserve Bank of Australia’s meeting tomorrow and time your entry there! Assuming no surprises and the technical supports are intact, we favor the long side for the AUDUSD pair. Entry at 0.7190, stop below 0.712. Targets are 0.7346 and 0.7460. Disclaimer: The contents in this Idea are intended for information purpose only and do not constitute investment recommendation or advice. Nor are they used to promote any specific products or services. They serve as an integral part of a case study to demonstrate fundamental concepts in risk management under given market scenarios.
CME:6A1!Long
by inspirante
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