AUD/USD

looking heavy near 0.785/6

i sold with a stop above 0.792, target 0.776

it pushed higher near 0.79 but then got rejected

i'm still short

AUD/USD Ahead of some fundamentals for US price on this pair is still showing bearish sentiment with almost all indicators and patterns on the bears side. The weekly chart has now declined below the 20week SMA on the Bollinger Bands, the weekly MACD will generate a sell signal this week, there is a H&S pattern with a downward sloping neckline on the weekly MACD, and daily could possibly form bat pattern (D is supposed to be little below 0.76 breaking lower daily trendline which still indicates an uptrend- cautius here because as long that line holds we're still having up rally) which might trigger my long entry. My previous post on ''Aussie'' was entry on that support breakout/hold, from which we saw decent rally down (few better entries could be found on 1st bounce back up - U pattern and H&S pattern second time). Here we might find good scalp entries since 0.775 is crucial resistance and near 0.32 fib retracement.

Looking at 8h chart, from Dec 7 up to now it's forming a falling wedge, which is a pattern continuation.
Considering the retracement is just below 61.80%, there's a chance of price action pushing onto 0.8050-0.8100 zone.
From there, we'll need to see what the fundamentals will be.
Technically, there's a potential to go reach 0.85 within 2 more hikes and one retracement.

One more leg up.
It may break TL for more upside or be beaten back down.

Cheers!

I have a tp @ 78

Why do you think it will go to 78 when the stock market is crashing ?

i see 76 and then 75

AUDUSD maintains a negative bias. It has recently eroded the 200 day ma at .7787 and remains on course for the .7637/78.6% retracement and the .7581 2016-2018 uptrend. However there are a couple of warning signals – the Elliott wave count is saying this is the end of the move lower AND the TD perfected set up on the daily chart is another warning signal SO I will again tighten our stops on my short position.

Rallies should find the 200 day ma at .7787 now acts as resistance. Above here Initial resistance is last week’s high at .7892.

wait to see targets

Short from 79 immediate target 76 area 100 pips already booked.

big data releases coming up today

my outlook is bearish overall and I am looking to sell any spikes to the upside

resistance levels are 0.776, 0.779, and 0.82

support levels are 0.773 and then 0.763/4

Pair spikes leading up to news. News comes out badly for the pair. Pair continues going North.

sigh.

wait for the RBA

Still applicable.

See how the AUDUSD react on the strong EMA resistance level and bounce back..as posted 6 hours ago.

back down again I guess to test 0.776

Stopped out...

it has to get past 0.782 soon or it will fall back down

pair is vulnerable to stocks