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AUDUSD

AUD continues to recover while still having difficulty resistancHello dear friends! Audusd continues to shine today when maintaining a significant increase and is currently trading about 0.645. Looking at the technical picture in today's 4 -hour chart, Au is receiving strong support and the next goal will be the 0.650 area. This is a strong resistance area when Au has reached the peak twice but cannot overcome, forcing Au to have a very strong motivation in the near future if he wants to overcome this resistance area. And bring many buyers to the market.
by Samson-FX
AUDUSD bulls challenge five-week-old descending triangleStrong China data and a clear upside break of the 10-day SMA allow AUDUSD buyers to prod the resistance line of a five-week-old descending triangle on early Friday. Adding credence to the Aussie pair’s upside bias is the upward-sloping RSI (14) line, not overbought, and the bullish MACD signals. With this, the risk-barometer pair is likely to cross the immediate hurdle surrounding 0.6460, which in turn will open the door for the pair’s run-up toward the 50-day SMA level of around 0.6560. It’s worth noting that the 0.6500 round figure and the 61.8% Fibonacci retracement of October 2022 to February 2023 upside, near 0.6550, act as extra upside filters to watch during the quote’s further upside. In a case where the pair price remains firmer past the 50-DMA, the lows marked in late June and early July around 0.6600 will act as the final defense of the bears. Meanwhile, the AUDUSD pair’s failure to provide a daily closing beyond 0.6560 could drag it back to the 10-day SMA level of surrounding 0.6415. However, the 78.6% Fibonacci ratio and the stated triangle’s bottom line, respectively around 0.6380 and 0.6355, will test the Aussie pair sellers afterward. Should the quote stay weak past 0.6355, the November 2022 low of around 0.6270 and the previously yearly bottom of around 0.6170 will lure the sellers. To sum up, the AUDUSD pair is likely to witness additional recovery but the upside room appears limited.
by MTradingGlobal
AUDUSD bears flex muscles on RBA DayAUDUSD bulls struggle to hold the forte after posting the first weekly gain in seven on the Reserve Bank of Australia (RBA) Interest Rate Decision Day. That said, the Aussie pair trades within a three-week-old bearish triangle, staying below the convergence of the 100-SMA and 50-SMA surrounding 0.6450 on the key day. It’s worth noting that the steady RSI and bearish MACD signals lure the sellers to sneak in and break the stated bearish triangle’s bottom line, close to 0.6420 at the latest. In a case where the risk-barometer pair remains weak past 0.6420, it confirms the bearish chart pattern and can well refresh the yearly low, currently the August 13 bottom of around 0.6360. On the other hand, an upside clearance of the previously stated triangle’s top line, near 0.6530, could unleash the AUDUSD buyers. Following that, a downward-sloping resistance line from mid-July around 0.6600 will precede a five-week-old horizontal resistance zone surrounding 0.6625 to test the upside momentum. In a case where the Aussie pair buyers keep the reins, backed by the hawkish RBA actions or signals, the odds of witnessing a run-up toward July’s peak of around 0.6900 can’t be ruled out. Overall, AUDUSD bulls run out of steam but the bears need approval from the RBA and the triangle breakdown.
by MTradingGlobal
23-week-old support line challenges AUDUSD bearsAUDUSD bears ran out of steam during the sixth week of the downtrend by positing the slimmest losses since mid-July. Even so, the Aussie pair faded bounce off a downward-sloping support line from early March, not to forget staying beneath a six-week-long descending resistance line. It’s worth noting that the nearly oversold RSI and the impending bull cross on the MACD challenge the pair sellers, suggesting another bounce off the stated multi-week-old support line, close to 0.6450 by the press time. In a case where the bears manage to conquer the 0.6450 support, last November’s bottom of around 0.6270 will be in the spotlight. Following that, the previous yearly low of near 0.6170 could lure the offers. On the flip side, a corrective bounce needs validation from the downward-sloping resistance line from mid-July, close to 0.6435 at the latest. Also acting as the short-term upside AUDUSD hurdle is the 21-DMA of around 0.6505. Should the Aussie bulls manage to keep the reins past 0.6505, the lows marked in late June and early July around 0.6600 will give the final fight to the bulls before giving them control. It should be observed that the double tops marked in June and July surrounding 0.6900 appear a tough nut to crack for the buyers afterward. Overall, AUDUSD remains bearish but the downside room appears limited, which in turn suggests a corrective bounce before the fresh leg towards the south.
by MTradingGlobal
AUDUSD forms falling wedge but bulls need more to returnAUDUSD bears take a breather after a five-week downtrend, portraying a falling wedge bullish chart pattern around the yearly low. Adding strength to the hopes of recovery is an upward-sloping RSI line, not overbought, as well as the bullish MACD signals. However, an area comprising multiple lows marked since late May, around 0.6460-70, restricts the short-term upside of the Aussie pair. Following that, a three-month-old horizontal area and the 200-SMA, respectively near 0.6580-6600 and 0.6635, will challenge the buyers before giving them control. On the contrary, a one-week-long rising support line surrounding 0.6390 limits the immediate downside of the AUDUSD pair ahead of the stated wedge’s bottom line, close to 0.6350. In a case where the Aussie pair remains bearish past 0.6350, the November 2022 low near 0.6270 and the previous yearly bottom of around 0.6170 will be in the spotlight. Overall, AUDUSD bears run out of steam and hence suggest a corrective bounce in the pair’s price. However, the downward trend established since mid-July is more likely to prevail unless witnessing strong Aussie data and/or downbeat US statistics, as well as the dovish Fed talks and the risk-on mood.
by MTradingGlobal
GBP/USD Wave Analysis: Riding the Profit Wave 📈🌊 🤑 Hold on tight for the GBP/USD profit adventure! We're cracking the code on recent moves (1-2-3-4-5) and diving into the next big thing: correction wave excitement! Let's dive into Wave ABC and snag those gains! 💰 🔍 What's Cooking: Wave Unpacked: Let's zoom into GBP/USD moves, spilling the beans on that slick five-wave setup (12345). Get the scoop on each wave's style and how they groove together for the big picture. Course Correction: Time to talk about the bounce-back waves. Check out what's in the mix for Wave ABC – levels, patterns, and when it's coming to town. Cash In on Corrections: We're sharing tips on stacking profits during correction waves. See how to time your moves right for max bucks – nail those entries and exits like a champ. Riding the BC Wave: Dive into Wave BC, the sequel to correction moves. We're breaking down the players and pieces that shape it, so you ride it smooth for gains. Risk Tamer Moves: Master risk moves during corrections. Learn savvy tricks to safeguard your stash while hauling in the loot. Tech Tools Rock: Check out tools and tricks to amp up your GBP/USD game. Use them to back up your hunches and dial in your moves. Real Talk Stories: Dig into past GBP/USD waves. It's like getting wisdom from veteran wave riders – peep the patterns, wins, and how it all played out. 📊💰 GBP/USD's in the spotlight, so get set for the profit surge! Correction wave (Wave ABC) is where the thrill's at, loaded with tasty potential wins. Stay sharp, trade bold, and get the scoop from our full-throttle analysis! (Note: Trading packs risks, and past glories don't promise future fortune. This is about learning the ropes, not financial advice. Do your homework and chat up money pros before making moves.) 🚀🤑
Long
by Greenfireforex
AUD/USD Wave Analysis 📈🌊 Description: 🤑 Get ready to ride the NZD/USD profit waves! We're breaking down recent moves (1-2-3-4-5) and diving into the next big thing: correction wave time! Let's get into Wave ABC and grab those gains! 💰 🔍 Highlights: Wave Rundown: We're zooming into NZD/USD moves, uncovering the cool five-wave setup (12345). You'll know each wave's vibe and how they roll together for the big picture. Correcting the Course: Time to talk about the comeback waves. Check out what might pop in Wave ABC – levels, patterns, and when it might hit. Cash In on Corrections: We're spilling the tea on scoring profit during correction waves. See how to time your moves right for max cash – enter and exit like a pro. Wave-riding BC: Dive into Wave BC, the sequel to correction moves. We'll break down the who's and what's that shape it, so you ride it smooth for gains. Risk Boss Moves: Master risk moves during corrections. Learn slick tricks to shield your bankroll while scooping up mad profits. Tech Tools FTW: Check out tools and tricks to up your AUD/USD game. Use them to back up your insights and fine-tune your moves. Real Deal Stories: Dig into past AUD/USD waves. It's like learning from OG wave riders – see patterns, scores, and what went down. NZD/USD's on stage, so gear up for the profit ride! Correction wave (Wave ABC) is where the fun's at, packed with big potential wins. Stay sharp, trade bold, and get the scoop from our full analysis! (Note: Trading's got risks, and past wins don't promise future fortune. This is about learning, not financial advice. Do your research and chat with money experts before making moves.) 🚀🤑
Long
by Greenfireforex
AUDUSD remains vulnerable to refresh yearly low past 0.6400A daily closing beneath a nine-month-old rising support line, now resistance around 0.6480, keeps the AUDUSD bears hopeful of witnessing further downside even as the oversold RSI conditions prod the immediate declines. That said, the 78.6% Fibonacci retracement of October 2022 to February 2023 upside, near 0.6380, checks the bears while the last November’s bottom of around 0.6270 can challenge the Aussie pair’s downside afterward. In a case where the quote remains weak past 0.6270, the previously yearly low marked in October around 0.6170 will be in the spotlight. On the contrary, AUDUSD recovery needs validation from the multi-day-old previous support line, close to 0.6480. Even so, the 10-DMA level surrounding 0.6515 can challenge the buyers before directing them to the lows marked in late June and early July around 0.6600. It’s worth noting that the Aussie pair’s successful trading beyond 0.6600 enables it to aim for the 50% Fibonacci retracement level of near 0.6670 ahead of targeting May’s peak of near 0.6820. Above all, AUDUSD stays on the bear’s radar unless crossing the double tops marked in July close to 0.6900. Overall, AUDUSD is less likely to return to the buyer’s radar any time soon.
by MTradingGlobal
AUDUSD LONG IDEA FROM 0.01 RISK IS 12$ , REWARD IS 56 USE PROPER RISK MANAGEMENT . .Trade Idea: BUY 📍 Entry: 🎯 Target: ⛔ Stop Loss: (MARKED IN CHART) 💡 RISK REWARD 1 : 4 💰 Risk 1% of your trading capital. ⚠️ Markets can be unpredictable; research before trading.Disclaimer: This trade idea is based on Elliott Wave analysis and is for informational purposes only. Trading involves risks; seek professional advice before making any financial decisions.Informational onLY !!!!
Long
by Greenfireforex
AUDUSD MULTI TIME FRAME ANALYSISHello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions , the entry will be taken only if all rules of the strategies will be satisfied. wait for more price action to develop before taking any position. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. 🧠💡 Share your unique analysis, thoughts, and ideas in the comments section below. I'm excited to hear your perspective on this pair . 💭🔍 Don't hesitate to comment if you have any questions or queries regarding this analysis.
Short
by okako_trading
2
AUDUSD downside hinges on 0.6470 breakdown and Aussie/US dataA clear downside break of the 10-month-old rising support line teases the AUDUSD bears as China releases mixed inflation data from July. Even so, an ascending trend line from early November 2022, close to 0.6470, could join the nearly oversold RSI to challenge the Aussie bears. Following that, a 78.6% Fibonacci retracement of October 2022 to February 2023 upside, near 0.6375, may act as the final defense of the bulls before the late 2022 low of 0.6170 gains attention. Meanwhile, AUDUSD needs to provide a daily closing beyond the support-turned-resistance line, near 0.6540 at the latest, to recall buyers. Following that, a three-week-old falling resistance line, around 0.6650, could check the upside momentum ahead of targeting May’s peak of around 0.6820. It’s worth noting, however, that the double tops surrounding 0.6900 become the key hurdle to the north for the pair buyers to crack for conviction. Overall, AUDUSD slips into the bear’s radar but the road towards the south is long. That said, Thursday’s Australia Consumer Inflation Expectations for August and the all-important US Consumer Price Index (CPI) will be crucial for the pair traders to watch for clear directions.
by MTradingGlobal