M6A1! trade ideas
AUDLast week a new sell orders appeared as the decline in the price was followed by increasing bearsih volume.
Three weeks in a row, Commercial long positions have decreased, showing thah the market participants expect lower prices.
First buy zone - 0.697- 0.694
Second buy zone 0.679 - 0.675
AUD/USDAUD
Last week AUD made gains with a rising volume, but the price range is still in a neutral zone. For the time being, no trade is recommended.
If the price breaks the channel upward, it has two resistance zones.
- Sell zone 1, as it is the start of the sell-off 21st September - Strong resistance
- Sell zone 2, a two-year peak - Stronger resistance
- Sell zone 3, every price above the top - Strongest resistance
On these zones, we need to see a lot of supply as sell orders should be allocated based on them.
Remember, supply and demand appear on the opening hours of London and New York, so don't trade on any sign of weakness.
COT
- Noncommercial positions have decreased both, long (-2,7%) and short (-5,6%), as long contracts remain more than short with 7K more.
- Long commercial positions have decreased by 1,8% to 44K, as the short have increased by 1,6% to 60K
Australian Dollar S T R E T C H E D Interesting price action today - as the US Dollar ( DXY ) was rising marginally so was the Aussie Dollar - while the Euro , CAD, British Pound all moved lower.
After a month long accumulation - The Aussie broke out rising more than a cent - on the last Friday of August, and continued to move after hours.
Today's price appears to be a stop run, before the market turns and go the other direction.
This is a situation where you want to watch their hips not their eyes. We are outside recent value - this trade idea is that we return to value clean up the weak price structure. The second target is to the other side of value and clean more of this price structure.
The US Dollar is skipping at the bottom of a channel - but its holding. Fund managers are adding to their net long positions - all pointing to lower Aussie Dollar prices.
BLOOMBERG:
8-28-2020
EQUITY FUND MANAGERS RAISE S&P 500 CME NET LONG POSITION BY 9,213 CONTRACTS TO 144,877 IN WEEK TO AUG 25 FOR USD
Speculators are short USD.
AUSIE Hi everybody.
Currently, we look at the H4 time frame and see that this pair is forming a corrective wave B - the foot of the wave is in the form of ABCD.
Analyzing on H1 chart - AUD future, we find that the pair is moving within a narrow price range of 0.684 - 0.689 - accumulating to move upwards, the target is expected to be in the area of 0.692 - 0.695 to complete wave B .
Now, looking in the accumulation area, we see a volume of 2 times creating Buyingclimax at the bottom of the rectangular box. The price is now moving higher to the top of the box, and has begun testing the supply with a small volume bar - this is good news because the supply has shown signs of exhaustion.
We are now waiting for the price to break out of the rectangular box with a high volume in order to identify the breakout above.
The difference between AUD-US 10-year bond yield shows that the trend is still supporting the AUD
Accompanying with technical analysis, basic information of RBA this morning showed that RBA's policy is to support AUD, though not much, it is enough to make the market reassuring.
Happy Trading!
#GrabTrader
Wedge breakout Short into Strong DZ to keep the uptrend alive.Look to take a short into the demand zone ONCE the wedge breaks down on a smaller timeframe. If wedge breaks up Look for a retest of a DZ near the breakout area to get long.
Turning downDISCLAIMER :
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6A1! in case ↘↘Depending on a lot of sign 6A1! going to be With a huge endurance decreased and it's the perfect time to sell.
6A1! in case ↘↘
Depending on a lot of sign 6A1! going to be With a huge endurance decreased and it's the perfect time to sell
Aussie Way Overdue for CorrectionWe're taking a shot on the short side of Aussie Dollar futures - for $AUDUSD to be this stretched is ridiculous and the RBA cannot be happy right now.
Rising wedge Australian dollar /United stase dollar future contract is trading in a Big Rising Wedge, I thinkit will be broken and price might fall.
We can clearly see a divergence between ON BALANCE VOLUME and PRICE.
Fundamentally AUD is going upthese days due to Optimism about a Covid-vaccine and a V -shape recovery in international indices. However there are still high risks related to USA-CHINA trade war and potential impacts on Australian economy (AU and China are commercial partners and if China exports will be damaged Australian economy will be influenced)
Open a short trade with target 0.63
