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AUDUSD

AUDUSD - 15M PROJECTIONDISCLAIMER: The Company accepts no accountability or obligation for your trading and speculation results, and you consent to hold the Company innocuous for any such outcomes or misfortunes. We are not financial advisers or account managers; We are Forex traders. The recordings on this channel are rigorously for educational and amusement purposes. Trading Forex implies dangers, and you can lose all your venture ; consequently, you exclusively must take a chance.
Short
by Azif123
Approach towards AUDUSD Short.Hello Traders! 1. We see an Elliotical rising wedge completed. 2. A clear impulse down . We can expect at least one more impulsive wave even if it happens to be a zigzag correction and not an impulse down. 3. A retracement of 61.8%. 4. The invalidation level and target levels have been marked on the chart . 5. This is not a very long term trade . Though, it is not expected for AUDUSD market to touch the invalidation level even after our trade is complete, we will still not go short further than Target 2 and wait for re-entry. Do use proper risk management. Happy Trading! Profits, Market's Mechanic.
Short
by UnknownUnicorn27677748
AUDUSD braces for further upside inside 3.5-month-old bullish chDespite the AUDUSD pair’s south-run on the downbeat Aussie jobs report, the pair trades successfully inside a 3.5-month-long upward-sloping trend channel. That said, the overbought RSI highlights beyond an ascending trend line hurdle stretched from mid-November and the 61.8% Fibonacci retracement level, respectively near 0.7015 and 0.7090 as near-term key hurdles. Following that, the August 2022 peak surrounding 0.7140 could act as the last defense of the Aussie pair sellers, a break of which could propel prices towards June’s top of 0.7282 before eyeing further advances. Alternatively, pullback moves could aim for the aforementioned channel’s lower line, near 0.6800, as well as the 50-DMA level surrounding 0.6770. In a case where the AUDUSD price drops below 0.6770, the bearish trend could be respected, which in turn highlights the 23.6% Fibonacci retracement level near 0.6500 as the attraction for bears. Overall, AUDUSD holds onto further upside even as the overbought RSI line hints at a pullback.
by MTradingGlobal
AUDUSD bulls are all set to visit the 0.7000 thresholdOn Friday, AUDUSD offered the first daily closing beyond the 200-DMA, as well as a downward-sloping trend line from June, despite an upbeat US jobs report. The upside momentum recently crossed multiple hurdles surrounding the 0.6900 threshold, as well as the tops marked during early September 2022 near 0.6915, which in turn suggests the pair’s run-up towards the 0.7000 psychological magnet. In a case where the Aussie bulls keep the reins past 0.7000, a run-up towards the August 2022 peak around 0.7135 can’t be ruled out. Alternatively, sellers need to wait for a clear downside break of the resistance-turned-support line from June, close to 0.6830 at the latest. Even so, a two-month-old ascending support line, near 0.6730, could probe the AUDUSD bears before giving them control. In a case where the Aussie pair remains weak past 0.6730, the lows marked during December and the mid-November, close to 0.6630 and 0.6585 in that order, should lure the sellers. Overall, AUDUSD is ready for further upside towards the 0.7000 psychological magnet.
by MTradingGlobal
AUDUSD lures bears even as 200-SMA probes immediate downsideA clear break of the monthly bullish channel welcomed AUDUSD buyers the last week despite the quote’s hesitance to break the 200-SMA. That said, bearish MACD signals add strength to the downside bias suggesting an imminent fall to the November 08 swing high surrounding 0.6550, given the successful break of the 200-SMA level of 0.6660. Following that, the 78.6% Fibonacci retracement level of the Aussie pair’s November-December upside, around 0.6410, can’t be ruled out. Meanwhile, any recoveries need to defy the channel breakdown by successful trading above the 0.6725-30 support-turned-resistance to recall the AUDUSD buyers. Even so, the 0.6800 hurdle comprising multiple levels marked since mid-November could test the bulls before giving them control. In a case where AUDUSD remains firmer past 0.6800, the December-start peak near 0.6850 could return to the chart. However, a convergence of the stated channel’s upper line and the monthly high, close to 0.6890, closely followed by the 0.6900 round figure, appears a tough nut to crack for the pair buyers afterward. Overall, AUDUSD sellers are in the driver’s seat and await a clear break of the 200-SMA to dominate further.
by MTradingGlobal