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AUD/USD

Quoting NotAtrader
{quote} As expected the price continues moving to the downside. It almost touched 0.6600 which is a psychological level. Breaking this level may see the price going down to 0.6530-0.6550
I'll give you 0.66 but the buck stops there, in the big picture anyway



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Maximize wins, minimize loss, stay in the game as long as you can
Quoting Erebus
{quote} I'll give you 0.66 but the buck stops there, in the big picture anyway {image}
I tend to agree with you. 0.6600 is a strong level.
However the chart below gives me another thoughts. What do you think?

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Start with 1000$. Increase by 3% every day. After one year 2 213 314$
Quoting NotAtrader
{quote} I tend to agree with you. 0.6600 is a strong level. However the chart below gives me another thoughts. What do you think? {image}
I already posted my chart and my overall view is based on weaker USD going forward

Maximize wins, minimize loss, stay in the game as long as you can
Quoting Erebus
{quote} I already posted my chart and my overall view is based on weaker USD going forward
Yes I saw it. Interesting. You could be right. Let's see.

What is your target?
Start with 1000$. Increase by 3% every day. After one year 2 213 314$
Short AU..
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As posted earlier, and illustrated by a chart: https://www.forexfactory.com/thread/...4#post14231314
the probability of resuming the downtrend is high.

The recent move up of about 90 pips might be just a retest of previous support 0.6640 which now is a resistance. Possibly after this retest the downtrend will resume. Please see the chart below:
The red horizontal line represents the resistance level while the red circle shows the time and the point where the resistance occurred.
You can also see a clear SHS which indicates that the price could not move higher than the previous high.
The timeframe is H4.

Just in case the price makes another move UP, the next level to watch would be 0.6720.

Please do your own research before trading this view.

EDIT: The resistance level of 0.6640 is the lower edge of the resistance zone 0.6640 - 0.6670.

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Start with 1000$. Increase by 3% every day. After one year 2 213 314$
Quoting Erebus
{quote} I already posted my chart and my overall view is based on weaker USD going forward
Nice call, Erebus. 80 pips UP. Not bad at all.

As I mentioned here:

https://www.forexfactory.com/thread/...4#post14231964

in case of UP-move, the next level to watch would be 0.6720. The price touched 0.6722 and the rally died and the price is now on level with the right shoulder of the SHS on H4 TF.

I am not sure what will happen from here. I need to do more research. Will be back with more information.

Good luck.
Start with 1000$. Increase by 3% every day. After one year 2 213 314$
Thoughts on AU finding a resistance level here and moving down to wards 0.60 ?

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Quoting NotAtrader
{quote} سلام، این پست را بررسی کنید: https://www.forexfactory.com/news/11...t#post14213005 اکنون که شکست یک واقعیت است، باید منتظر یک روند...
What is your prediction?
Quoting masoudja
{quote} What is your prediction?
I am not sure.
This is what I can come up with (see the chart below):

The price can fall down to 0.6680-0.6660 and if the lower trend line gets penetrated then the next level would be 0.6600.

On the upper side 0.6920-0.7020

The timeframe is H4

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Start with 1000$. Increase by 3% every day. After one year 2 213 314$
Quoting NotAtrader
{quote} I am not sure. This is what I can come up with (see the chart below): The price can fall down to 0.6680-0.6660 and if the lower trend line gets penetrated then the next level would be 0.6600. On the upper side 0.6920-0.7020 The timeframe is H4 {image}
Ok. We are inside the 0.6660-0.6680 zone as I write. Penetrating this zone downwards may see 0.6600 again.
EDIT: This zone is a strong support with the first mark set on 14 July.
Good luck
Start with 1000$. Increase by 3% every day. After one year 2 213 314$
Quoting NotAtrader
{quote} Ok. We are inside the 0.6660-0.6680 zone as I write. Penetrating this zone downwards may see 0.6600 again. EDIT: This zone is a strong support with the first mark set on 14 July. Good luck
The price has moved below the lower edge of the zone 0.6660-0.6680.

I expect that the price will retest this area and if resuming the down move and closing the day below this area, then we are possibly heading to 0.6600.

Just my view. Do your own research before trading it.
Start with 1000$. Increase by 3% every day. After one year 2 213 314$
Quoting NotAtrader
{quote} The price has moved below the lower edge of the zone 0.6660-0.6680. I expect that the price will retest this area and if resuming the down move and closing the day below this area, then we are possibly heading to 0.6600. Just my view. Do your own research before trading it.
Asia opening is a decisive moment for where AUDUSD will go. The price just retested the lower edge of the zone 0.6660-0.6680.
If the price penetrates the previous low at 0.6640 then 0.6600 is a close to 100% target. If not, the we can see a 50-80 pips range (0.6640-0.6720) for a couple of days until None-Farm data is released.
Start with 1000$. Increase by 3% every day. After one year 2 213 314$
Is there any hope to return to channel 0.66?
Quoting masoudja
Is there any hope to return to channel 0.66?
I'm watching AUD/NZD shorts down to parity possibily
Quoting masoudja
Is there any hope to return to channel 0.66?
The U.S. dollar is getting increasingly weak. The forecast for NFP doesn’t look good for the US dollar. That’s the fundamental side of it.
However the technicals suggest that AUDUSD is still bearish and it is about to resume the downside move.
Look at the D1 TF with a 200 EMA on the chart. The price has just touched the MA and retreated down to resume the main bearish trend. Let’s see.

This is jus my view. Please do your own research before trading it.

EDIT: In such case, convincing penetration of 0.6900 would mean a main trend change.
Start with 1000$. Increase by 3% every day. After one year 2 213 314$
Anyone short this pig????
Quoting ninner
Anyone short this pig????
I have given up trading for the next month or so, only observing the charts.

This price action could be a dump before the interest rates news later today

In which case it's a buy, but anything can happen, especially this time of year.

Good Luck
Maximize wins, minimize loss, stay in the game as long as you can
Quoting ninner
Anyone short this pig????
I do, but I feel it might be mistake. I always hedge when my trades go wrong. No worries.

In D1 TF the price is still under the 200 EMA and it points down. However the price now is just on a psychological level which can serve a a support.
The RBA decision will help it to find a direction.
Start with 1000$. Increase by 3% every day. After one year 2 213 314$
Quoting Erebus
{quote} I have given up trading for the next month or so, only observing the charts. This price action could be a dump before the interest rates news later today In which case it's a buy, but anything can happen, especially this time of year. Good Luck
Why this is the best time to trade from now to mid janurary!!!!
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