USDAUX trade ideas
💡 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
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💡 Don't miss the great buy opportunity in AUDUSDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (0.75). 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 uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 75.
Take Profits:
TP1= @ 0.7560
TP2= @ 0.7600
TP3= @ 0.7640
SL= Break below S2
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AUDUSD is still in the ascending channel.Recently, the global market has obvious risk sentiment. The rise in securities indexes and commodity prices, especially the rapid rise in copper prices, has led to the appreciation of commodity currencies. Therefore, fundamentals have helped the Australian dollar to appreciate.
By technical analysis, AUDUSD is still in the ascending channel. It is recommended that when the price falls back to support, buy AUDUSD.
AUDUSD: FLAT CORRECTIONOn a larger degree front , AUDUSD made a 3 down & 3 up wave formation which suggests that a FLAT pattern is in formation,as long as it maintains below the previous highs. An ending diagonal is forming on lower degree as wave-c which suggests that the 3 up formation is going to exhaust . We should see a five wave down rally if the flat corrective pattern is forming !