ProfessorCEWard

ProfessorCEWard

There is the possibility of a decline based on the recent breakout of a bearish pattern, as Price Action closed below the anchor @ 1.7348, creating a resistance level @ 1.7326. The RSI indicator being in overbought area may suggest a halt or reversal in the rise. If the downtrend analysis is correct, we might place a sell limit order at 1.7326 and a sell stop...

ProfessorCEWard

BEARS: Based on the disparity in economic data between the UK and Australia, it indicates a potential decrease in the value of the Pound in relation to the Aussie Dollar. If the sentiment has been oversold since June 10, 2024, it could indicate a possible correction, which would counter the downtrend and move towards the upside. BULLS: This analysis suggests...

ProfessorCEWard

HIGH-RISK, HIGH-REWARD UT OPPORTUNITY BULLS: Based on the recent price close above the minor Resistance level @ 1.0691, there is a possibility of the uptrend pattern continuing. It appears that the ongoing bullish pattern, which began on April 16, 2024, may persist. Furthermore, the Relative Strength Index (RSI) on the lower timeframes, ranging from M5 to H1,...

ProfessorCEWard

Recent economic data indicates that New Zealand's producer prices (PPI) have surpassed expectations, which is bolstering the strength of the NZD. The inflation in the Eurozone is relatively low and is not expected to have a significant impact. This will result in a stronger New Zealand dollar compared to the euro. Furthermore, Price Action has successfully...

ProfessorCEWard

Based on my analysis, it appears that the recent increase in prices is just a short-term adjustment in a broader downward trend. After closing above 0.8457, the downtrend channel seems to have been broken, resulting in a shift where resistance now acts as support. This could potentially lead to an uptrend pullback.

ProfessorCEWard

Based on the Price Action of the EURAUD, it seems likely that the downtrend will continue. The currency pair broke a significant support level at 1.6242 and is now in oversold territory. It is important to consider the recent encouraging economic data in the Eurozone and the optimistic outlook for the EUR, which may lead to a temporary upward movement, possibly...

ProfessorCEWard

BULLISH: Despite the recent encouraging economic data, such as the Empire State Manufacturing Index and optimistic retail sales forecasts, the dollar has gained momentum and broken out of its downtrend. BEARS: On the 5D timeframe, the analysis of the curve indicates that the US Dollar Index is currently experiencing a downtrend. It appears that the recent rise...

ProfessorCEWard

Australia, being a significant exporter of commodities such as iron ore and coal, has experienced a boost in commodity prices. Commodity prices on the rise may have a positive impact on the Australian economy and the AUD. There is a potential policy divergence between the Reserve Bank of Australia (RBA) and the US Federal Reserve. The RBA is considering the...

ProfessorCEWard

I believe that the downtrend on the 1D timeframe will continue, given that Price Action closed below 1.0877. Resistance at 1.0874 has encountered a price rejection and may be poised to resume the downtrend following this significant rally. If the resistance level at 1.0942 is broken with the price closing above it, there is a possibility of the price moving...

ProfessorCEWard

Recent price action forming bullish chart patterns after retesting support levels @ 0.9108. Additionally, the interest rate differential between Australia (hawkish) and Canada (dovish) could favor the AUD.

ProfessorCEWard

Analysts have expressed cautious optimism regarding the AUDUSD uptrend, taking into account the underlying fundamentals. However, it is important to note that there are certain factors that need to be considered: Positive for AUD: The Federal Reserve's consideration of a more accommodative approach, including the possibility of interest rate cuts, may have an...

ProfessorCEWard

Analysts are leaning towards a continuation of the downtrend for the AUDNZD forex pair, citing fundamental factors. The contrasting positions of the Reserve Bank of Australia (RBA) and the Reserve Bank of New Zealand (RBNZ) are considered to be a significant factor. A central bank with a more accommodative stance suggests a readiness to maintain low interest...

ProfessorCEWard

Strengths of the Australian Dollar (AUD): Australia plays a significant role in the global market for commodities such as iron ore and coal, which have experienced a notable increase in prices. The AUD can benefit from strong global demand and recent price increases for these commodities, as exports become more valuable. RBA Taking a More Assertive Stance: The...

ProfessorCEWard

(Based on the 5D/45m Chart) SLO @ 2332 ⏳ SSO @ 2312 ⏳😮 TP1 @ 2288 TP2 @ 2212 TP3 @ 2156 TP4 @ 2069 TP5 @ 2032 This is an Intermediate Time Frame trade (4 hours to 6 day): — Offers a clearer picture of the underlying trend compared to short-term frames. — Provides more opportunities for confirmation signals and technical analysis. — Allows for more flexible...

ProfessorCEWard Updated 

Based on the 4D Chart SSO2 @ 0.8404 ⏳ SSO1 @ 0.8355 ⏳ TP1 @ 0.8263 TP2 @ 0.8185 TP3 @ 0.8128 TP4 @ 0.8039 BLO1 @ 0.8018 ⏳ BLO2 @ 0.7966 ⏳ ADDITIONAL INFO: ⏱ It's prime time for a short BABY. 🤑 Get it while the getting is good. This is an Intermediate Time Frame trade (4 hours to 6 day): — Offers a clearer picture of the underlying trend compared to...

ProfessorCEWard

(Based on the 1D Chart) 🛢 CFD: WTI CRUDE OIL 🛢 RESISTANCE @ 85.21 TP4 @ 84.39 TP3 @ 81.44 TP2 @ 79.52 TP1 @ 76.76 SUPPORT @ 74.51 BSO @ 73.94 ⏳ BLO @ 72.22 ⏳ FUNDEMENTAL ANALYSIS Crude oil prices have slightly recovered from a drop caused by pressure from the Federal Reserve, but they are still stuck in a narrow range. When the Organization of Petroleum...

ProfessorCEWard

(Based on the 2H Chart) SLO2 @ 1.3754 ⏳ SLO1 @ 1.3737 ⏳ TP1 @ 2291 TP2 @ 2217 TP3 @ 2162 TP4 @ 2077 BSO @ 1.3630 ⏳ BLO1 @ 1.3617 ⏳ BLO2 @ 1.3598 ⏳ This is a Short-term Time Frame trade (1-minute to 3 hour): — Highly volatile, price movements can be fast and unpredictable. — Suitable for day trading and scalping, but require constant monitoring and quick...

ProfessorCEWard

(Based on the 4H/9D Chart) SLO2 @ 2427 ⏳ SLO1 @ 2380 ⏳ SSO @ 2325 ⏳ TP1 @ 2291 TP2 @ 2217 TP3 @ 2162 TP4 @ 2077 SUPPORT @ 2011 This is an Intermediate Time Frame trade (4 hours to 6 day): — Offers a clearer picture of the underlying trend compared to short-term frames. — Provides more opportunities for confirmation signals and technical analysis. — Allows...