The pair is approaching the completion of a descending triangle wedge pattern. With the pair being rejected by multiple established resistance levels and leaving consecutive doji stick candles coupled with mounting US China tensions and fear of economic weakness, I believe the down trend will continue.
I have targets set for the 104.466 support level which is...
Given the current market conditions, I believe there is very bullish momentum for the USDAUD
On the daily chart, the pair have hit multi-month lows and the momentum of the down trend seems to have been slowing over the last few weeks. Also, the pair has been consolidating on the support level of 1.308 which is a multi-month low.
The improving American economic...
I am very bullish for the EURUSD because it is hitting bullish, uptrend support and it could surf this support for the short term.
The RSI is not yet oversold; there is still room north. There has been a recent reversal, bouncing off support with doji candlesticks, volume looks solid and economic data as well seems to support this.
With the recent rally, the...
After very solid moves to the upside, the pair is starting to run into resistance at the 1.32306 level on the daily chart and consolidating.
On the technical side, the pair is starting to run out of momentum and on the hourly chart it looking at levelling off 1.32188 level and with decreasing volume, a potential doji stick candle as well as the Relative Strength...
There is a potential 7:1 shorting opportunity forming on the hourly chart of the currency pair.
If the pair can violate the uptrend resistance as well as the 1.252 resistance, then this will confirm a continuation of the downtrend where I see it hitting the 1.237 level or the 0.618 fib retracement.
This is likely given the fresh disastrous economic data as well...
AUDS stock is poised to take off.
The AUD/USD bullish trend will continue for the next few weeks.
AUDS
- Fund is leveraged 200-275% with 100% asset allocation on AUD/USD
- Global shutdown AUD/USD appreciation meaning first time AUDS can produce positive returns
- AUDS 1 month return of 13% beating index of 6%
- AUD/USD poised to take off
- 20 day MA crossed...
JB HiFi is going to go up over the next few weeks.
Fundamentals
- Promising Australian economic data ie skyrocketing consumer confidence, JobKeeper payments are 50% unused meaning potential demand, good May PMI's, retail sales beating expectations -----> suggesting recovering in spending
- relatively isolated from geopolitical risk ie main market is...
Thanks to last week's upbeat economic data from the US and Australia especially, the momentum will likely carry through this week.
Today, Webjet violated the important $4.52 resistance level and I believe if the today's candle can hold above the level, Webjet will be poised for a bullish trend.
In terms of Australian economic data, this week is a quiet...
The AUD/USD bullish trend will continue for the next few weeks.
Reasons below support for a bullish breakout.
Buy at trend channel support ie 0.67640 | risk/reward ratio = 3
Fundamentals
AUD:
- Recovering domestic economic data ie good PMI's, strong consumer confidence, better than expected retail sales for May, lockdowns ending sooner than expected
- Rising...
