Just Another A/U Thread...

Trend view - update:

minor correction is possible at current point depend on EU correction ( some degree of correlation), but correction from 0.77xx is more probable, still not sure about depth of that correction. the ultimate target: breaking above 0.78xx.

Rationality: supply-demand analysis, under evaluation.

Assuming price does keep going up (I see as US weakness rather than AU strength) than I see correction before 77xx as I have it as price coming from 7145 and we have not had a 555 (7700-7145) pip up move without decent correction in more than 4 years. Others may see it differently depending on how big they define 'correction' to be.

Almost a Spot On Price Action Prediction! Only problem, it happened in two weeks instead of a "few weeks"! hehe

Have a great summer everyone!

I just went short .7492 AUD. Have a good break P.A. Will look forward to your return.

Hi PA, hope you had a good vacation. Some thoughts to a/u.

The pair continues to trade in a triangle formation. The period March - May produced a 3mth evening star candle formation and since then the mkt following Yellen's Harvard speech [at the end of May] has continued higher, through the trend has been overall week. The driver's; FOMC June, Brexit June, FOMC July.



The wkly 89ema is currently providing resistance, the 34ema could provide support and it might appear that price could move within this band until the next catalyst. The next market moving event is up tomorrow with Yellen at Jackson Hole.



Price on the Dly Chart is between the 8ema [abv.] and the 34ema. The 0.7610 level [currently trading here] happens to be the 23.6% fib retr. level [from 24.May-10.Aug]. Don't rule out a spike on news from Yellen, the last two times, [FOMC June & July] the mkt spiked down 50pips & 40pips respectively and then continued higher. Should price move higher [more on hope], beware, it might get faded very soon, just be cautious. The 0.7520 is curently the 38.2% fib retr. lvl [from 24.May-10.Aug] with good price support around the 0.75. Personally I'd like to see the aud come back to the 0.75 or 745 level for possibily a new long opportunity.

"Is he back rendite ?he hasn't posted.

Hi Everyone, I hope you all had a good and profitable summer! I just wanted to let everyone who follows me know that while I was away I used part of that time to evaluate some things. One of those things is that I've decided my time on FF is over...I'll be moving on. I hope that information on here has helped those who like Price Action trading understand the market a little better and/or become profitable. And for those who don't follow this method or didn't like, may you find what does work for you!

Best Wishes to everyone!!! Keep making those pips!

What a shame I really enjoyed PAs thread.I wish him well anyway he's put some great stuff on.What we need now is some knowledgeable trader to take it over.My mate Aussi would be the first choice maybe ,he puts consistently good stuff on FF,maybe if he even puts his own slants on things.Just a thought anyway .Best wishes to all.