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The AUD/USD pair fell again on Wednesday as the world shunned risk in the marketplaces. The pair has broken down below the 1.02 support level, and looks set to continue the move downward, although it must be said that the area is support, and a bounce could come
Quote:
Originally Posted by BojanHajdinjak
audusd seems bottom is forming. on other pairl like eurusd and gbpusd we can see temporary USD weaknes.
It seems it is just matter of time audusd will follow them. audusd 1.0263 now.
The AUD / USD has managed to increase after the 0.9927 support level rise, reaching the level 1.0411resistance to fall from this level of the formation of a bottom level at 1.0110 above which stopped the fall and the pair formed the harmonic pattern (AB \ u003d CD)
audusd 1.0292 now. Take profit now because it is still inside larger bearish trend.Quote:
Originally Posted by BojanHajdinjak
Will wait now on bearish reversal - top confirmation
The recent acceleration and close below 1.0390 has triggered a more ssubstantial topping formation that projects deeper setbacks towards 0.9700 over the coming sessions. In the interim, look for intraday rallies to be well capped ahead of 1.0600. The price is also tracking back below the 200-Day SMA to further strengthen downside bias.
we can see that the pair has closed it's daily candle above 1.0300 . so , that's means that up trend is expected and the pair might head to 1.0350 and then 1.0380 ,but also the hourly correction is expected before continue in the up trend
I've been talking about selling 'risk' for a little over a week now. I like the big rally we saw today in equities as it really improves the risk/reward profile of a lot of potential trades. One of my favorite short 'risk' trades is the AUDUSD, as I think the US Dollar may have set an important bottom. A recent piece showing a potential long-term sentiment extreme in the US Dollar likewise favors the topside.
Pait bounces up to 1.0355 after my "long forecast". In general I think it is still bearish on higher timeframesQuote:
Originally Posted by BojanHajdinjak
but bullish longtermly. But I think longterm chart isnt interesting for us who trade with leverage.
So in general Iam waiting to reSELL again as soon veryshortterm top will be confirmed.
Pair bounces up to 1.0355 after my "long forecast". In general I think it is still bearish on higher timeframesQuote:
Originally Posted by BojanHajdinjak
but bullish longtermly. But I think longterm chart isnt interesting for us who trade with leverage.
So in general Iam waiting to reSELL again as soon veryshortterm top will be confirmed.
AUD/USD opened Thursday's trade at 1.0174, dipped into the 1.0110 price zone in early Asia then rebounded from those session lows, advancing into the 1.0360 area before a slight pullback the close the session at 1.0349, 175 pips above its stating price.