This pair has been a lot of work.
This pair has been a lot of work.
This pair is actually one of the most difficult to trade. Very complex correlation.Originally Posted by ;
The major technological direction of this AUDUSD is southward but the market is in a corrective mode.
KP
Hi buddy! How do you do?! Long time no see mate. I always read your posts with grate attention and esteem. Nice work KP!
Great luck to you!
Thanks mate for your encouragement.
Stay green.
KP
That explains much.
Curious behaviour. I possess the charts, but I recall watching the change happen in December 2017. I remember clearly thinking that it was manipulated for it didn't fit the fundamentals. Someone priced it the moves were enormous and the end was MM moves.
Https://www.tradingview.com/x/ZMgV4cTh/
edit: I'm bearish, but I will wait patiently. #tradewhatyousee
AUD bullish:
It is quite scary how quickly this pair has swung in the past. Just have a look at the chart.
Look in the 3-day chart. This 0.77 region was a critical resistance from 2016 to 2017, that has been divided twice (Jul and Dec 2017) and will be probably becoming support today.
Technically, there's a capability to go until 0.83xx zone, with potential extension until 0.8375 and 0.8525 zone.
Additionally, there's a plogical resistance at 0.80 till 0.81. So, either could happen, it may bounce again right there or pass through and then 0.80-0.81 turn into the next support level.
Long term, in the monthly chart, price will recuperate from 0.97-0.99.
The thing is: Can AUD have enough mojo for it?
Currently I'd say right away NO, but not what in FX market is really logical and played with the rules, therefore I'm awake to it.
AUD Bearish:
Economic astrophe saying BOOO! To Australia, using no enough power to keep things running and grow, property market diving really quickly, people debt totally unsustainable (almost half of GDP), immigration rules becoming more strict, and lots companies which used to plead support to minorities and diversity advertising their jobs only for citizens (what's really crap, because it is going to drop a lot of intellectual property such as how it happened in USA before and now they are attempting to regain it, maybe opening the borders for specific specialised professionals shortly). Australia seems to start a travel back in time while USA is currently attempting to step forward, and this, earlier or later will reflect AUD and aussie's lifestyle.
So, considering these components and much other people, in the bearish scenario, price will continue pushing a little higher for today, but eventually it'll dive suddenly, notably with USA's economy recovering quite quickly which is quite promising for USD and American men and women.
Since Australia isn't a industrialised nation, it's mostrly based on services and importing, the currency needs to be high so the nation can grow. But considering this scenario of a decaying market large public debt large personal debt, most of things overpriced and overvaluated, interests rates being raised anywhere, it'll be quite hard for Australia to survive maintaining the interest rate at 1.50%. This will force AUD to crash, and at some point, the government official reports will be made to tell Our market is not bulletproof mates! We're sorry! . Individuals are feeling this already.
With this particular scenario, price tends to be hauled to 0.65 and range back to 0.70.
Real property is decaying and is expected to burst. If this is confirmed, we'll be speaking about 0.48-0.50 with exactly the exact same range, 0.65-070. Exciting days in FX market, although maybe not good at all for Aussies.
Shorted @ 0.7705 in anticipation of a dollar swing.
A lot of work.
The dollar behaving like a bag full of feral s is not helping much.
Edit: Outside at 0.7675
When China let the s out of the bag hit and I was going to close the bag.
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