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AUD/USD

Quoting Sunnyland
{quote} Fundamental absorbed, technical analyses in game, look at harmonic pattern, it goes to north to leg D then maybe will come back or not come back
don't forget the currency manipulation being deployed by the Chinese govt with retaliation by the US.....long term, I think AUD will fall back around and perhaps below .68 by middle of next year in line with its falling economy.
Attractive flip on 0.69870
I always buy on retracement during strong uptrend and sell during retracement on strong downtrend.

Using bounce formula as mentioned by adam khoo in piranha profits

Use moving Average: EMA 18 > 50 > SMA 200 in M15 and higher timeframe (H1)

if the price touches ema 50 and continue going up, when it touches ema 50 its time to buy the AUD/ usd

put stop loss below previous swing low, take profit shouldnt be higher than previous swing high. Risk reward ratio is at least 1 to 1.5
Looks like a short here to me
ex nihilo
Quoting Oc6oph
Looks like a short here to me
Nice call... Hope you traded that
Quoting batus
Attractive flip on 0.69870
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Quoting ellaber
{quote} Nice call... Hope you traded that
Thank you I did short
ex nihilo
If they don't cover that gap at 6921 and it gets back over 7030 this is going to 80 over the next few months. Reversals all over the weekly and monthly, after a decade long beat down. I should be waiting for .7030 but I'm in now with a stop at 6870. Price action over the past few weeks is screaming reversal. If it does go up I'm adding all the way up to .75 building up a 300 pip cushion for bigger move up.

This move was clearing out those without margin for a break out or reading for a bigger move down. After these past few weeks I'm betting on break out to the upside.
Quoting forexguy516
If they don't cover that gap at 6921 and it gets back over 7030 this is going to 80 over the next few months. Reversals all over the weekly and monthly, after a decade long beat down. I should be waiting for .7030 but I'm in now with a stop at 6870. Price action over the past few weeks is screaming reversal. If it does go up I'm adding all the way up to .75 building up a 300 pip cushion for bigger move up. This move was clearing out those without margin for a break out or reading for a bigger move down. After these past few weeks I'm betting on...
It's been 18 months since AU was at 80c. I suspect IF it's going back there it will take more than a few months.
Hope for the best, prepare for the worst.
It's all a big game of yoyo....
It goes up and down and up.
What matters to us is where we enter, as that will dictates how long you need before you hit your target.
Expect the unexpected; take your profit and run.
I found this, now.
just interesting.
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Aussie had a double cycle and fall 2xMonday could see a fair change towards the new trampoline (tm) that is forming under 7000 even. HUZZAH !
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grist for the mill
uwotm8 Return This Month: 6.5%
will target next week 0.7057/67 and after correction to try breakout there if . watching
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AUD / USD moved well up. But now it has met the boundary of the Ishimoku cloud, the PRS line. This is a strong resistance, and from this I expect a rebound down. Moreover, the stochastic has reached 80, and it has no strength to go up. Price far away from the line Tenkan, which also indicates the possibility of correction.
Daily
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Quoting forexguy516
If they don't cover that gap at 6921 and it gets back over 7030 this is going to 80 over the next few months. Reversals all over the weekly and monthly, after a decade long beat down. I should be waiting for .7030 but I'm in now with a stop at 6870. Price action over the past few weeks is screaming reversal. If it does go up I'm adding all the way up to .75 building up a 300 pip cushion for bigger move up. This move was clearing out those without margin for a break out or reading for a bigger move down. After these past few weeks I'm betting on...


So far so good, ready to start adding for the next move up. All bad news negative news, overbought and still going up. Primed to break out here soon.
Quoting forexguy516
{quote} So far so good, ready to start adding for the next move up. All bad news negative news, overbought and still going up. Primed to break out here soon.
I agree with much of what you have said. Without pinpointing I would suggest a break to 7070 ish is on the cards within the next couple of weeks then 7200 ish by mid August
going for 0.6958
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Quoting jpwtrading
going for 0.6958 {image}
changing targets to 0.6975 and 0.6959
Quoting jpwtrading
going for 0.6958 {image}
closed shorts on AUDUSD because of DXY chart
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Quoting Sunnyland
{quote} Fundamental absorbed, technical analyses in game, look at harmonic pattern, it goes to north to leg D then maybe will come back or not come back
I'd still like to see 0.7070 met to be honest. Some positive data coming out of China (despite what the media portray it as) GDP figures were still as expected. I think the US will suffer more so from the China issues and I do see USDCNH dropping to 6.8300 eventually and therefore taking AUDUSD with it as well.

The rate cuts coming from the RBA were priced in and now I believe its time for AUD to start to move higher off the back of Dovish FED, higher Yuan Vs USD and the fact we've bottomed out at the 0.6850 level. I saw someone mentioned that we haven't seen 0.8200 for over 18 months.. We hadn't seen lows of 0.6850 since 2009!!

By no means is the economic situation in Australia perfect. But there rate cuts are in and I feel like the low has been found.. Over to you FED Powell, lets see a 50bps cut haha!
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