AUD/USD Price Forecast – Australian Dollar Likely To Break Out

AUD/USD Price Forecast – Australian Dollar Likely To Break Out

From fxempire.com

As the US and China cool tensions during the trade war negotiations, that should help benefit the Australian dollar. We are seen a series a “higher lows”, and therefore it’s likely that the Australian dollar is going to try to break out above the recent high and continue going much higher. At that point, the Australian dollar will more than likely try to go towards the 100% Fibonacci retracement level which is closer to the 0.71 level. Ultimately, this is a market that I think will continue to find buyers on dips, and therefore the 50 day EMA should continue to offer a lot of support as well. Breaking clear and ... (full story)

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Dec 25, 2019 10:28am

AU will go to the other direction first...min 6800, potentially a bit lower. Buy opportunities at 67xx for smart money and above 6900 for retailers, who will be trapped in negative swaps for a few weeks again.

OhComeOn

Dec 25, 2019 3:34pm

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Quoting vikinsa

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I agree that a Breakout is Expected With 250 PIPS Potential Here is my analysis: https://www.forexfactory.com/showthread.php?t=970850 {image}

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I am short since daily is on a downtrend and 4H is building the dip on the daily. Swap currently favors long, but by entering here you will experience drawdown. It will need to come down some even if it goes higher. Anything can happen, but you may want to be careful on your entry. Would be interesting to see what happens at Daily support level at .68467, anything can happen, hope it works out for you. Be careful though with next week and if the New Year spike hits like it did in early January 2019 last year when it moved a couple of hundred pips in minutes due to low volume across many pairs, some pairs moved several hundred pips. Personally I am extremely cautious until second week of January. Stay green.

clockwork71

Dec 25, 2019 10:38am

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Agreed, that's what I said in the article, that a pullback makes some sense at this point.......but I think the aud will do well in 2020

KeenPips

Dec 25, 2019 10:44am

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The market is presently operating at the 0.69200 consolidation zone and we have to await further price action.

KP

vikinsa

Dec 25, 2019 10:19am — Edited

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I agree that a Breakout is Expected With 250 PIPS Up Side Potential Here is my analysis:

https://www.forexfactory.com/showthread.php?t=970850

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Name: Vikinsa AUDUSD 24 Dec 2019 Before Breakout Prediction.jpg
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SalmanM

Dec 25, 2019 2:05pm

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Quoting vikinsa

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I agree that a Breakout is Expected With 250 PIPS Potential Here is my analysis: https://www.forexfactory.com/showthread.php?t=970850 {image}

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Wrong trend
the end point of the trend should be far away from last candle point

vikinsa

Dec 27, 2019 1:37am

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We have confirmation now as yesterday's candle closed above resistance. We can wait until end of this week i.e. today if want further confirmation.

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vikinsa

Dec 27, 2019 4:25am

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Quoting clockwork71

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Agreed, that's what I said in the article, that a pullback makes some sense at this point.......but I think the aud will do well in 2020

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and we have a breakout as expected