Short $AUDUSD for a test of .6400Selling this rally into resistance have made the Aussie Dollar an attractive sell for the a test of the bottom of the range, within a longer downtrend. The shorter timeframes are in overbought territory which makes it a better sell. Only a daily close above .6680 would negate this trade. Note: the rally could extend so wait for a test.
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Dr. Lydia Smith
Audshort
AUDCAD TRADING PLAN Looking at the overal trend , its downward and price action has shown over and again that price reverse multiple times , when it touches trendline up , and price is currently moving in an ascending channel , i will take risk entry between 0.9000 and 0.9030 . if price breaks the channel down , i will hold the trade for a long term back to the previous low. good luck guys . manage your risk
AUDUSD SHORT - PINBAR OFF TRENDLINE SIGNALS SELLERS COMING INHey traders,
After scaling into 2 long AUDUSD positions which hit our targets of the blue trend line I now have a short bias .
We now have price action at the same trend line in the form of a bearish pinbar.
Looking at the Higher Time Frame we see that AUDUSD has been in a down trend for quite a long time.
The MACD on the H4 is also about to have a bearish cross.
Risk to reward on this trade is 2, but might be able to let this trade run for much larger.
Daily trade analysis and ideas:
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AUD NZD | DUEL OF THE TWO WEAKEST CURRENCIES Will we finally see a correction of the bull run since August?
AUD and NZD the two weakest currencies at the moment, in a bull run without any correction for over 1.5 months!
1.0830-1.0860 is a strong resistance for this level. If we continue up we could see a move up to the daily trendline and resistance around 1.10000
Expecting a correction this week to our 1.07000 support level,before we continue up.
Strategic short on AUDJPYHere we are actively in the market for further downside in AUDJPY after retesting 78.6.
=> From a fundamental perspective the outlook in Australia continues to weaken. Credit, housing and confidence are all slowing and a dovish RBA is the icing on the cake.
=> The "positive" headlines this morning from the US-China trade is increasingly priced in and we see this as a selling opportunity as there is limited upside in AUD from a potential deal.
=> JPY should also catch a bid from US outflows. Headwinds are appearing in earnings and global growth is also slowing.
The risk here to our idea is on the top-side. To give a meaningful break we would need to see a pickup in global growth which in turn will support commodity demand.
Short GBPAUD on shoulder pattern formationPoor AUD data overnight with building approvals dropping 8.4% for the month of Dec vs expectations of +2% took AUD down overnight leading to a 40pip bounce in GBPAUD. The pair is in process of forming head and shoulders with the spike on poor data failing to breach the neck line at 1.8100 area. This is now the third day in a row to fail to break above 1.81 and hold.
Looking for retest of 1.79 area into RBA meeting (AUD central bank) tomorrow and over the coming week