AUD/USD

Quoting NotAtrader

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{quote} Nice chart! I don’t know what kind of pullback this is. Maybe just some lucky people can take d advantage of this situation and get out of their stuck longs, but imho the trend down may continue for ate least 200-250 pips all according to my previous analysis: https://www.forexfactory.com/thread/...3#post14147093 After this is done, all technicals and fundamentals suggest a return to higher levels - probably 0.67xx. Let’s see. I am not advising anyone. Confirm with your own analysis before using this idea. Good luck ...

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Quoting masoudja

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{quote} Hi Is the general trend up? Forecast ?

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Quoting Vincent1

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{quote} On lower time frame, possible inverted H&S, waiting for confirmation {image}

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Quoting NotAtrader

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Yes things point upwards for AUDUSD, but…….. Luuk at this W1 chart and pay attention to the three resistance/support points, the horizontal R/S level and the two bearish trend lines. As I said earlier, we need a sustained penetration above these levels in order to consider a trend change from bearish to bullish. This is about the big picture and for long term traders. The short term picture, however, might be different and quite nervous. In any case short term traders, daily traders and scalpers should be able to take advantage of the current situation...

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Quoting stevepatt

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{quote} Hi NotAtrader, Thursdays Bullish move caused a Massive Imbalance in Price this Imbalance will be Filled sooner or later Considering where Price Closed on Friday, within a Weekly Swing Low, we can Anticipate a PullBack to Test Structure BUT, Price will do what Price will do what we think is of no Importance I advocate just Following Price without question Of course it is far easier to just Follow Price if you are a Short Term Trader (Scalper)...... {image} {image} {image}

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Quoting NotAtrader

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Yes things point upwards for AUDUSD, but…….. Luuk at this W1 chart and pay attention to the three resistance/support points, the horizontal R/S level and the two bearish trend lines. As I said earlier, we need a sustained penetration above these levels in order to consider a trend change from bearish to bullish. This is about the big picture and for long term traders. The short term picture, however, might be different and quite nervous. In any case short term traders, daily traders and scalpers should be able to take advantage of the current situation...

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Quoting NotAtrader

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{quote} Hi and thanks for your view. I have really no idea where the price will go as these times are not easy times for providing a good and reliable forecast. Said that, I won’t be surprised if the the price shows unable to penetrate higher than where it closed on Friday. But as mentioned many times already, following the price is the only thing I can do. I am a short term trader often a scalper. But I always welcome the challenge of a long term positioning any time I see the opportunity and I need to be 100% sure. Example: when EURUSD reached...

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Quoting masoudja

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{quote} with bullish or bearish forecast .How much can it decrease in the short term?

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Quoting trumps

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Looks like 0.69 coming up for the Aussie bulls

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Quoting NotAtrader

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Climbing to 0.6730 earlier today, the price actually retested the daily support of 0.6733 which got broken yesterday. After this retest the price made a small sell off of some 70 pips and then made a 50% retracement after which it fell back down again. Now it looks like this level will be the Friday close which sealed the confirmation of the bearish divergence from yesterday on H1 TF. I am now looking at a possible extension to this downfall next week. The next levels to each, in case the price continues south, are 0.6550-0.6530 Not an advice. Just...

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Quoting NotAtrader

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{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

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