Thread: AUD/USD

Looking heavy near 0.785/6

I marketed with a halt above 0.792, target 0.776

Originally Posted by ;

looking Hefty near 0.785/6 I Marketed with a Halt above 0.792, Goal 0.776

it pushed Greater near 0.79 but then got rejected

I'm still short

AUD/USD Ahead of some fundamentals for US price with this pair remains showing bearish sentiment with nearly all indiors and patterns on the bears side. The weekly chart has now declined below the 20week SMA on the Bollinger Bands, the weekly MACD will generate a market signal this week, there's a HS pattern with a downward sloping neckline on the weekly MACD, and daily may form bat pattern (D is supposed to be little below 0.76 breaking reduced daily trendline which still indies an uptrend- cautius here because as long that line retains we are still having up rally) which might trigger my long entrance. My prior article on ?Aussie? was entrance on that support breakout/hold, from which we saw adequate rally down (few better entries could be discovered on 1st bounce back up - U pattern and HS pattern second time). Here we might find good scalp entries since 0.775 is critical resistance and close 0.32 fib retracement.

Looking at chart, from Dec 7 up to now it is forming a wedge, which is a pattern continuation.
Taking into consideration the retracement is just below 61.80%, there is a chance of price action shoving onto 0.8050-0.8100 zone.
From that point, we'll need to find out what the fundamentals will be.
Technically, there is a potential to go achieve 0.85 within two more lifts and one retracement.

One more leg up.
It might break TL for longer upside or be beaten down.

Cheers!

I've a tp @ 78

Originally Posted by ;

I have a tp @ 78

Why would you think that it will go to 78 if the stock market is crashing ?

I visit 76 and then 75

AUDUSD keeps a negative bias. It has recently eroded the 200 day ma at .7787 and remains on course for the .7637/78.6% retracement and the .7581 2016-2018 uptrend. However, there are a couple of warning signs -- that the Elliott wave count is currently stating that this is the conclusion of the transfer lower AND that the TD perfected setup on the daily chart is just another sign so that I will tighten our stops on my short position.

Rallies should find the 200 day ma at .7787 now functions as resistance. Above here resistance is a week's high at .7892.

wait to observe targets

Brief from 79 immediate goal 76 area 100 pips already reserved.