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AUDUSD.10.CFD trade ideas

Rising wedge at multi-month top teases AUDUSD bearsAUD/USD teases a 33-month high around 0.7780 inside a bearish chart pattern as global markets await Georgia’s Senate runoff. Although Democrats are likely to snatch Republicans’ control over the upper US House, the thin majority and odds of President Trump’s likely plot to defy the results can probe the bulls. As a result, the AUDUSD is knocking the multi-month top, refreshed recently, amid US dollar weakness. However, surprises for Democrats won’t be taken lightly as Trump will use all he can to stop losing GOP control over the Senate, which in turn can trigger the US dollar’s corrective recovery from the lowest since April 2018. In that case, AUDUSD traders should watch for confirmation of the bearish chart pattern, by a sustained break below 0.7675 support, to eye the theoretical target near 0.7300. During the fall, an ascending trend line from early November, at 0.7550 now, followed by a 200-SMA level of 0.7490, will be important to watch. Meanwhile, risk-positive news from Georgia will initially eye the 0.7800 round-figures before directing the AUDUSD bulls to April 2018 top near 0.7810. Should Joe Biden and Company announces readiness to distribute $2,000 paychecks, the much-awaited stimulus, the early 2018 peaks near 0.7900 and 0.8130 may return to the chart. In doing so, the 0.8000 psychological magnet will be the key to watch. Overall, AUDUSD remains strong but the bearish chart pattern at the multi-month top can derail the bull’s confidence if confirmed.
by MTradingGlobal
💡 Don't miss the great sell opportunity in AUDUSDTrading suggestion: . There is still a possibility of temporary retracement to suggested resistance line (0.768). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . AUDUSD is in a range bound and the beginning of downtrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 47. Take Profits: TP1= @ 0.7635 TP2= @ 0.7556 TP3= @ 0.7483 TP4= @ 0.7405 TP5= @ 0.7270 SL: Break Above R2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader? Now, It's your turn! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Short
by ForecastCity_ME
5
AUDUSD buyers can ignore Monday’s bearish spinning topWith the US House backing President Donald Trump’s demand for a $2,000 paycheck, AUDUSD remains positive amid a risk-on mood. The pair failed to justify Trump's signing of the coronavirus (COVID-19) aid package the previous day amid fears that the Senate will turn down his push during the last days in the White House. While Monday’s downbeat performance printed a bearish spinning top on the daily chart, the pair’s ability to stay beyond an upward sloping trend line from November 23 and 21-day SMA confluence, around 0.7500, keeps the AUDUSD buyers hopeful. Also favoring the upside momentum could be the bullish MACD and an absence of the overbought RSI. That said, a short-term falling resistance guards immediate upside around 0.7620 while the monthly top near 0.7640 can probe the optimists afterward. On the contrary, AUDUSD weakness past-0.7500 can trigger a gradual downpour targeting the early- November top near 0.7340. Though, the December 02 high near 0.7450 and the 0.7400 round-figure can offer intermediate halts during the fall. In a case where the AUDUSD bears dominate past-0.7340, 0.7300 and 0.7220 may restrict the fall en-route November bottom close to 0.6990.
Long
by MTradingGlobal
💡 Don't miss the great sell opportunity in AUDUSDTrading suggestion: . There is still a possibility of temporary retracement to suggested resistance line (0.755). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . AUDUSD is in a range bound and the beginning of downtrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 40. Take Profits: TP1= @ 0.7460 TP2= @ 0.7420 TP3= @ 0.7370 SL: Break Above R2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader? Now, It's your turn! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Short
by ForecastCity_ME
4
💡 Don't miss the great sell opportunity in AUDUSDTrading suggestion: . There is still a possibility of temporary retracement to suggested resistance line (0.756). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . AUDUSD is in a range bound and the beginning of downtrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 40. Take Profits: TP1= @ 0.7500 TP2= @ 0.7485 TP3= @ 0.7450 SL: Break Above R2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader? Now, It's your turn! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Short
by ForecastCity_ME
5