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Huge pressure on AUD/USD is still continue.This pair is still continue to have that downtrend pressure cause of weak Chinese economy as well as weak European Economy.
Today this pair come back to 104.05 mark and testing 104 mark.
Pivot at 104.47
Resistance at 104.93 and 105.35
Support at 104.07 and 103.67
Price is below 12 EMA and 72 EMA indicates the trend is still down
RSI 50 is still there under area 50 indicates the trend momentum is still down
Recommendation: sell
Range: 1.0510-1.0365
long positions at 1.0474 with 1.0507 and 1.0543 as next targets
the breakout of 1.0446 will call for a rebound towards 1.0405
Pivot: 1.048
Our preference: Short positions below 1.048 with targets @ 1.041 & 1.0385 in extension.
Alternative scenario: Above 1.048 look for further upside with 1.0515 & 1.055 as targets.
Comment: the pair is posting a rebound but stands below its resistance.
http://cache.mail.yandex.net/mail/4e...0129197281.GIF
i think that AUDUSD will retest the support level on the daily chart @61.8% so i think that we should wait until this pair reach the support level then we can buy this pair after that our target point will be@100%.
As shown In H4 chart we can notice that the price became too close to the support level @38.2% fibonacci , also the pair is about to test the bullish trend shown , so i expect this trend to reject the price again into some bullish direction and we will have a chances to start buying near this trend ,
Attachment 4573
the support at 1.0409 was tested for the third time. Still seems to be holding . Not there is a strong support at that level. Penetration of that level would indicate a strong bearish signal. Indicators MACD,ADX,RSI all bearish every time frame. I'm waiting till the price break from the 1.0409 level to open a short position
AUD/USD sell @ 1.0401 TP 1.0280 , SL 1.0490, lets see what will happen......
---------- Post added at 04:46 PM ---------- Previous post was at 04:44 PM ----------
bro cool trade...
trend now is slightly bullish
pivot point : 1.0465
resistance 1 : 1.0514
resistance 2 : 1.0550
support 1 : 1.0429
support 2 ; 1.0380
Spoiler:
On the H1 chart, the price is below EMA 12 and EMA 72 indicates the trend is still down
RSI 50 is below 50 indicates area trend is still down
Recommendation: sell
Range :1.0481-1 .0388