Price analysis of USDAUD Focus on Chart....
I done my analysis on this pair of currency and gave results in this image .
USDAUX trade ideas
AUD/USD Elliottwave analysis Monthly analysis of AUD/USD suggests we may see around 2000-3000 points of 3rd wave in coming years.
3rd of the 3rd is under progress if the low will not break the downside. If everything is as planned then we may see 0.86 soon .
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.
AUDUSD rebound remains elusive below 0.6500AUDUSD portrays a corrective bounce from the lowest level in a month, snapping a three-day downtrend, amid mixed data/events from Australia. Also allowing the Aussie pair to consolidate recent losses is the market’s reaction to the upbeat data from China, Australia’s biggest customer, as well as the below 50 levels of the RSI line. However, the bearish MACD signals and the quote’s sustained trading beneath the 0.6500 support confluence, comprising an ascending trend line from early November and the 61.8% Fibonacci retracement of the quote’s late 2023 moves, challenge the bullish bias. Even if the quote manages to cross the 0.6500 support-turned-resistance, a convergence of the 50-SMA and the 200-SMA near 0.6545-50 will be a tough nut to crack for the buyers. Following that, the 0.6600 threshold and a horizontal area comprising multiple levels marked since January, near 0.6635-40, will be the last defenses of the pair sellers before giving control to the bulls.
On the contrary, a two-month-old horizontal support around 0.6475 restricts the immediate downside of the AUDUSD pair ahead of the yearly low marked in February around 0.6445. In a case where the Aussie pair remains bearish past 0.6445, the early November swing lows surrounding 0.6340 and 0.6320 could test the sellers before directing them to the previous yearly low of 0.6270. It’s worth noting that the quote’s weakness past 0.6270 will make it vulnerable to slump toward the year 2022 bottom around 0.6170.
Overall, the AUDUSD pair is likely to remain bearish and the latest recovery appears less convincing.
200-SMA tests AUDUSD rebound from six-week-old supportAUDUSD struggles to defend the week-start recovery from an ascending support line stretched from early February as traders await the key US Durable Goods Orders and the Aussie inflation data, scheduled for Tuesday and Wednesday respectively. In doing so, the risk-barometer pair jostles with the 200-SMA hurdle surrounding 0.6555. It’s worth noting that the market’s cautious mood joins the sluggish MACD and steady RSI (14) line to raise doubts about the quote’s further upside. Even if the buyers manage to cross the key SMA hurdle, an 11-week-old horizontal resistance surrounding 0.6635-40 will be a tough nut to crack for them before retaking control.
Meanwhile, AUDUSD sellers should wait for the aforementioned data, as well as the pair’s daily closing beneath the multi-day-old support line, close to 0.6515 by the press time, before entering. Even so, the monthly low of 0.6477 and February’s bottom of 0.6442 will challenge the quote’s downside. Following that, the bears could gain a free hand in targeting the 0.6400 round figure and the late 2023 swing low of near 0.6270.
Overall, AUDUSD pares recent losses ahead of the key data/events but the recovery appears less convincing.
"Analyzing Bearish Momentum: AUDUSD on the Daily Time Frame"AUDUSD is forming a bearish flag pattern on the daily time frame.
The bearish flag pattern suggests a temporary pause in a downtrend before a potential continuation of downward momentum.
Traders should anticipate further bearish pressure in the coming weeks based on this pattern.
The bearish sentiment is strengthened by the inverse correlation between AUDUSD and the USDX (US Dollar Index).
The USDX is currently displaying bullish momentum, indicating a strengthening US dollar.
As the USD strengthens, it is expected to apply additional downward pressure on AUDUSD.
It's crucial for traders and investors to monitor key support and resistance levels, as well as any potential market catalysts that could influence the currency pair's movement.
AUD/USD: A Third Wave "...Wonders to Behold..."Prices advanced in five waves from 0.6477 to 0.6667. This wave pattern is significant because impulse waves identify the direction of the larger trend. Thus, the five-wave advance in AUDUSD implies further buying to come that would push prices above 0.6667 as wave (iii).
The subsequent decline that is developing in three waves supports this analysis. Counter trend price action typically consists of three waves, so we expect another move up. Moreover, the three-wave decline travels to 0.6550 to retrace 61.8% of the previous impulsive advance. 61.8% is a common retracement for corrective waves especially when they occur as wave 2 of an impulse or wave B of a zigzag correction.
Also nearby is 0.6558, the price level at which wave c equaled wave a, which is a common Fibonacci relationship between wave C and A of zigzag correction.
Also adjacent is 0.6560, the end of the fourth wave of one lesser degree. As a guideline, corrections tend to end upon reaching the end of the previous fourth wave of one lesser degree.
Besides, the correction is unfolding as a Zigzag A-B-C with a triangle characteristic in the b wave position as is common. Also, the correction neatly adheres to the parallel channel with wave c hugging the lower boundary of the channel.
These cluster of evidence suggests that prices are approaching an important juncture and a reversal to the upside is on the horizon. If so, then a break above 0.6629 would virtually indicate the correction ended and the next significant move is to the upside.
Trading Plan
Entry : Buy at market.
Protective Stop : 0.6477; in an impulse wave 2 can NEVER retrace 100% of wave 1.
Target : 307 pips i.e ((0.6667-0.6477) X 1.618)
In an impulse, the third wave commonly travels 1.618 times the length of the
first.
Risk-to-Reward : 1:3
AUDUSD sellers should keep eyes on 0.6510 and Fed talksAUDUSD stays on the way to posting a second consecutive weekly loss while reversing the post-FOMC rally. In doing so, the Aussie pair portrays a U-turn from an 11-week-old horizontal resistance surrounding 0.6640 amid a pullback in the RSI (14) line from overbought territory and a looming bear cross on the MACD. Also keeping the pair sellers hopeful is the clear downside break of the 200-SMA, close to 0.6545 at the latest. It’s worth noting, however, that an upward-sloping support line from mid-February, near 0.6510 at the latest, appears a tough nut to crack for the bears. Following that, the yearly bottom surrounding 0.6440 and the previous yearly trough surrounding 0.6270 will lure the pair sellers.
Meanwhile, AUDUSD buyers remain off the grid below 0.6640 but an intermediate recovery can’t be ruled out if the quote manages to stay beyond the 200-SMA level of 0.6545. That said, the pair’s successful trading above 0.6640 allows it to cross the 0.6700 round figure while 0.6730 and 0.6780 could challenge the bulls afterward. In a case where the buyers keep the reins past 0.6780, the late 2023 swing high of near 0.6870 seems a welcome level for them.
Overall, AUDUSD is likely to witness further downside but the room toward the south appears limited.
AUDUSD Trade Idea [Pre FOMC]Potential AUDUSD Sell ahead of the FOMC meeting. Potential TP levels are +2.5R and +4.2R.
AUDUSD PRICE WILL BE DOWN FALL TILL AT 0.06562 TAKE A SHORT AUDUSD PRICE will be DOWN FALL TILL AT 0.06562 take A SHORT ENTRY as shown in the picture
AUDUSDTrade logic
1- daily bearish
2-retest at 15m done downside
3-break of previous day low wig.
4-rejection fib level0.5 at h TF
Manage your risk properly.
let see where it goes .
target to the lower side liq.
AUDUSD upward movement would be anticipated from the zone below which corresponds with the lower green line
caution : this week is the time for both central banks for rate meeting mind their effect
#triggerpriceaction
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.
AUDUSD sellers attack 200-SMA to revisit 0.6525 key supportAUDUSD appears well-set for biggest weekly loss in seven while extending the previous week’s U-turn from a 3.5-month-old horizontal resistance area surrounding 0.6675-80. The Aussie pair currently pokes the 200-SMA support near 0.6565 amid an impending bear cross on the MACD and a retreat in the RSI (14) line, which in turn suggests slower grind toward the south. Hence, the quote is likely to break the adjacent SMA support of 0.6565 and aim for an upward-sloping support line from mid-February, close to 0.6525 at the latest. In a case where the bears keep the reins past 0.6525, the monthly bottom of 0.6477 and the yearly trough surrounding 0.6442 will be in the spotlight.
Meanwhile, AUDUSD rebound needs validation from late February swing high of 0.6595, as well as the 0.6600 round figure. Following that, multiple swing highs marked so far during 2024 near 0.6625-30 could test the buyers. It’s worth noting, however, that the Aussie pair’s further advances remain elusive unless the quote offer a daily closing beyond the aforementioned multi-month-old horizontal resistance zone near 0.6675-80. Should the bulls manage to keep the reins past 0.6680, the 0.6700 and 0.6750 might entertain them before highlighting the late 2023 swing high of 0.6871.
Overall, the AUDUSD pair is likely to decline further and can challenge the key support line as traders await a few more US consumer-centric data ahead of the next week’s FOMC monetary policy meeting.
AUDUSD is bullish, medium-term.
Aussie-dollar trend in recent times has violated the characteristics of a proper downtrend. Looking at the 1W TF, there was a lower high (LH) and lower low (LL) seen on April 4 and October 10 2022 respectively. Price rallied to the Willis zone at Fib 0.5 to 0.61 on January 30 2023 and plummeted downwards with an expected target of 0.61900 completing a 100% retracement move in line with a bearish bias.
However, price rejected at the 0.62751 level back in October 23 2023 and has rallied back to make equal highs at 0.68712, while also breaking and retesting both the major zone (sky green rectangle) and an inner weekly trendline.
Furthermore, a weekly bullish engulfing candle has surged through the monthly zone and a break of the neckline of a double-bottom pattern on the daily TF.
I will patiently wait for a retest of this neckline, and if price sustains above it then I will go long with an overall target at 0.68690.
"AUD/USD: Short-Side Breakdown of Head and Shoulders Pattern An In this technical analysis, we dissect the recent breakdown of the head and shoulders pattern on the AUD/USD currency pair, signaling a potential bearish trend reversal. We examine key levels, indicators, and price action, providing insights for traders looking to capitalize on short-side opportunities in the market. Stay informed and navigate the foreign exchange landscape with precision.
AUD/USD currency pair and possibly referring to a flag pattern.AUD/USD: This is a Forex currency pair that represents the exchange rate of the Australian Dollar (AUD) against the US Dollar (USD). Traders often analyze this pair to make trading decisions based on the economic conditions and geopolitical factors affecting both countries.
Flag Pattern: In technical analysis, a flag pattern is a continuation pattern that forms after a strong price movement (in this case, possibly an uptrend). It consists of two parallel trendlines that form a rectangular flag shape. The flag pattern suggests a temporary consolidation or pause in the trend before the price resumes its previous direction.
Description for Buying if it Breaks the Flag and Pole: If you're considering buying the AUD/USD pair after it breaks out of a flag pattern, it typically implies that you expect the uptrend to continue. Here's what this strategy might entail:
Confirmation: Wait for the price to break out above the upper trendline of the flag pattern (the flag) after a strong upward movement (the pole). This breakout should ideally be accompanied by increased trading volume, indicating conviction among traders.
Entry: Once the breakout occurs and confirms the continuation of the uptrend, you might consider entering a long (buy) position on AUD/USD.
Stop Loss: Place a stop-loss order below the lower trendline of the flag pattern to limit potential losses if the breakout fails and the price reverses.
Target: Set a profit target based on your risk-reward ratio or by identifying key resistance levels where the price might encounter selling pressure.
Remember, trading involves risk, and it's essential to conduct thorough analysis and risk management before executing any trades. Additionally, individual traders may have different strategies and preferences, so it's crucial to adapt these guidelines to your own trading plan and risk tolerance.
@johntradingwick
@TradingView
it's based on SMC strategy. supply and demand zone There is a strong demand zone, which I drew in green colour. if the price touch the zone and and give a bullish signal, like bullish candlestick pattern, then we can enter for a long trade. our target will be 0.65315 and SP 0.64873.
Shorting opportunity grabed by me in aud/usdJust traded reversal probability of audusd comformed by good volume
AUDUSD LongFOREXCOM:AUDUSD
Hello 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 Smart Money 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...
Keep trading
Hustle hard
Markets can be Unpredictable, research before trading.
Disclaimer: This trade idea is based on Smart money concept and is for informational purposes only. Trading involves risks; seek professional advice before making any financial decisions. Informational only!!!!
AUDUSD Technical AnalysisThe Fed left interest rates unchanged as expected at the last meeting while dropping the tightening bias in the statement but adding a slight pushback against a March rate cut.
The US CPI beat expectations for the second consecutive month with the disinflationary trend reversing.
The US PPI beat expectations across the board by a big margin.
The US Jobless Claims beat expectations with the data remaining steady.
The latest US PMIs increased further from the prior month with the Manufacturing PMI beating expectations and the Services PMI missing.
The US Retail Sales missed expectations across the board by a big margin.
The market now expects the first rate cut in June.
AUD
The RBA left interest rates unchanged as expected with the central bank maintaining the usual tightening bias and data-dependent language. The recent Monthly CPI report missed expectations across the board which was a welcome development for the RBA.
The latest labor market report missed expectations by a big margin. The wage price index surprised to the upside as wage growth in Australia remains strong. The latest Australian PMIs showed the Manufacturing PMI falling back into contraction while the Services PMI jumped back into expansion. The market expects the first rate cut in August.
AUDUSD Technical Analysis 1-Day Timeframe
On the daily chart, we can see that AUDUSD broke above the key resistance level where we had also the red 21 moving average for confluence and extended the rally to new highs. The buyers are targeting the next resistance at 0.6623 but the momentum seems to be waning a bit. The sellers, on the other hand, will likely wait for the price to reach the 0.6620 level before piling in for new shorts or looking for some key breakouts on the lower timeframes.
AUDUSD Technical Analysis 4-hour Timeframe
On the 4-hour chart, we can see that the price has been diverging with the MACD recently. This is generally a sign of weakening momentum often followed by pullbacks or reversals. In this case, we got pullbacks into the red 21 moving average where the buyers kept on stepping in to target the 0.6620 level. The moving average and the black trendline will now be key levels for the sellers as they will need to break through them to gain more conviction for a bearish trend and target new lows.
AUDUSD Technical Analysis 1-hour Timeframe
Timeframe On the 1-hour chart, we can see that we have a resistance zone around the 0.6580 level which the buyers will need to break to increase the bullish bets into the 0.6620 level. There is no important data till next Tuesday, so the market will likely be driven by the technicals until then.
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AUDUSDAUDUSD Technical Analysis According Lone Because, AUDUSD Falling wedge or Descending Trend Line Breakout or Retest Complete.
audusd has potential on short side so here is the reasonAUD/USD (Australian Dollar/US Dollar) appears to be poised for a corrective movement towards the 39.2% and potentially the 50% Fibonacci retracement levels, followed by a reversal from the resistance zone.
After experiencing a prolonged uptrend, AUD/USD is showing signs of exhaustion or overextension, suggesting a possible retracement. This correction is likely to target key Fibonacci retracement levels, notably the 39.2% and possibly the 50% retracement levels, which are often considered significant support areas in technical analysis.
As the price approaches these retracement levels, traders should pay close attention to potential reversal signals, such as candlestick patterns or divergences in momentum indicators, to anticipate the end of the correction phase and a potential reversal.
Moreover, there is a significant resistance zone that may act as a barrier to further upside movement. This resistance could coincide with the Fibonacci retracement levels, reinforcing the potential for a reversal from this area.
In summary, the outlook for AUD/USD suggests a corrective move towards the 39.2% and possibly the 50% Fibonacci retracement levels, followed by a reversal from the resistance zone. Traders should closely monitor price action and key technical levels for confirmation of this scenario.
