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Audusdanalysis

AUDUSD 31May2023there is still a fairly strong bearish pressure, and there is no sign of a reversal. we can argue that the price entered wave 3 with the invalid area boundary in notation (4). special note, even though the price is likely to go up and higher than the invalid area, it does not necessarily mean that the price has reversed. the possibility is that the elliot notation is not correct and the price is still in a bearish period, it's just that he has an upward correction. so, be careful friends when deciding to go long later.
by Hokusai_FX
AUD/USD still to decline? AUD/USD hit a six-month low at 0.6525, the broken neckline of the inverse head and shoulders pattern. Technical indicators suggest further downward movement, with the RSI and Stochastic oscillator indicating oversold conditions. The MACD is negative, signaling a bearish trend. The price has dropped below its moving averages and violated the short-term range floor at 0.6565. If sellers break the 0.6525 support, the pair may test the 61.8% Fibonacci retracement at 0.6483, followed by a decline towards 0.6420 and potentially the 0.6370-0.6340 zone. Overall, AUD/USD is expected to see more selling if the 0.6525 level breaks.
Short
by Samo_Danilo
2
AUDUSD Technical Analysis and Trade IdeaThis video offers a comprehensive analysis of the AUDUSD, concentrating on its recent trading patterns. It's worth noting that a significant resistance level has been reached, and a price gap exists below it. Bigger players may look to attack sell-side liquidity resting under in the form of stop losses. The video delves into various topics such as trend analysis, price action, market structure, and price gaps. Furthermore, it briefly mentions a potential trade opportunity.
Short
by fxtraderanthony
5
AU providing a hint for a reversalAUDUSD is currently at its lowest point since breaking out of consolidation on last week. This week it may look to re-test the bottom of the range or the neckline of a confirmed double top bearish reversal pattern. However, the case, this pair is overall bearish. The big move will come from a short. I've noticed that its currently trading around the weekly support and has performed a higher high, would be a trendline break if price wasn't moving so fast but the moving average has already crossed to the upside. If that low holds as support, I'll look to buy to the 38.2 Price reversal zone (PRZ).
LShort
by DesharedPierreJr.
AUDUSD POTENTIAL SHORT FORMATION IN PROGRESSWhen we zoom out on the higher time frames, we can see that the pair is in a strong downtrend despite the bullish correction in the daily time frame which lasted a few days. We have listed various reasons which support our bearish basis. 1: Monthly time frame trend suggests a strong downtrend. 2:Price failed to break the lower high formed on the 4th of April 2023 3:Trendline like breakout 4: Ascending triangle breakout We will wait for price to correct on the lower time frames before looking for an entry. We need the trade to be a minimum of 1 to 3 risk reward before we consider looking for an entry.
Short
by NDOBObanks
Intraday Bullish Momentum swingThis is a follow up and actual trade taken by myself. I placed a short term buy today at 10:30A.M on AUDUSD simply because lower lows ceased being formed at a key support level. After a strong bullish correction trendline was broken then on the 4Hour the 8Moving Average crossed to the upside of the 21SMA. that's relevant because it lags behind price. The 1 hour provided some reversal signals at a clear support and the trade was essentially taken based on pure candlestick analysis. I love trading reversal candlesticks on top of support. Especially after a market gap on Sunday. I believe a potential inverted head and shoulders is on the way after price failed to make a lower swing low and is now attempting to create a new swing high. Potential short term up trend beginning with indecision candles then a bullish engulfing on top of a weekly support.
Long
by DesharedPierreJr.