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BluetonaFX - AUDUSD Potential Double Top OpportunityHi Traders! There is a potential double top pattern on the AUDUSD 1D chart as the 0.68999 resistance is still holding. There has been huge amounts of bullish momentum over the past few days, and there might be a possibility that bulls are now profit-taking and exiting their long positions, which will lead to a slowdown of momentum and a possible retracement of the bullish wave. The RSI indicator is also supporting this, as there is also a potential double top forming on the indicator. We have a first target at 0.68182 and a second target at 0.67199, which is just above the range zone before the bullish breakout. Please note that this is a risky setup; stops should be very tight as the bull momentum may continue if the double top fails and 0.68999 is broken. Please do not forget to like, comment, and follow, as your support greatly helps us. Thank you for your support. BluetonaFX
by BluetonaFX
AUDUSD might pumping after correctionSeveral weeks ago I expect it will going down retrace to price 64¢ but it didn't, it was pumping from 65¢ and broke the strong resistance swing high at 68¢, after that correction to strong support at 66¢ before it pumping hard again to test that 69¢, but unfortunately not yet touched. Usually when the price doesn't touched particular strong round number (almost touch 1-3 pips), once again when it comes to that price, it will break the price like it was nothing (long bullish/bearish candle close above/below the strong price). Actualy I had sell limit at 69¢ several weeks ago but the price didn't take my sell order (missed less than 2 pips). Now the market structure is clear, bull domination. Usually price will spike to 60-70 pips before it going in favor (downward). I expect will correction to 67¢ for buy opportunity to test the new resistance at 69¢ (200 pips). It was consolidating 100 pips between 66¢ (minor support) and 67¢ (minor resistance) for 10 days before it pumping hard broke the 67¢ after USD high impact news released (CPI data) and this mean this (67¢) is strong demand on daily or weekly chart (spot the move without change to daily or weekly chart). I'll looking the price to build minor structure on smaller timeframe such as H1 before take consideration to sell for corrective moves. What do you guys think?
Long
by UnknownUnicorn33119711
AUDUSD Possible sell zone!!Currency Pair : AUDUSD Possible direction : Bearish Multiple-timeframe Analysis : Daily : Price has just tested the daily 20EMA and has broken toward downside forming a daily MIDDLE MAN which may continue to drop as long term trend is down Monthly: There is strong rejecjction from the resistance level. Weekly: Pirce already tested the weekly resistance level and rejected from upper wick of the weekly doji. 4H: Price currently is in pullback and may start dropping from 20EMA to merge with it's long term down trend Possible trade recommendation : Bearish as per chart sketch Press like button if you enjoy.
Short
by ForexWizard01
1
Who's Right? Hawk Economists vs. Dove Traders - RBA meets TodayYesterday, the AUD/USD experienced its third consecutive day of growth. However, the upward trend is expected to face obstacles during Tuesday's trading session due to the impending Reserve Bank of Australia meeting. Despite some analysts adopting a more hawkish stance and predicting a rate hike as the most likely outcome of today's meeting, money market traders have reduced their forecast to a one-in-three chance of an increase, down from 40 percent on Friday afternoon. Although inflation numbers in Australia have slowed down, the Consumer Price Index remains above the target range, while the key interest rate stands at 4.1 percent, below the CPI. Furthermore, recent remarks from RBA Governor Lowe have maintained a hawkish tone, leaving the possibility of further rate hikes open, even after two unexpected increases. As US markets remain closed in observance of Independence Day, the AUD/USD has been consolidating at 0.66700 prior to the RBA decision. With conflicting views from economists and traders, the meeting's outcome has the potential to inject some volatility into the pair. In terms of potential resistance levels, the initial zone to watch out for is around 0.66900, followed by 0.67200. However, it is important to note that considering the RSI's decline below the 60.00 level, the upward momentum has weakened. Nevertheless, the overall inclination remains biased towards the upside. Therefore, exploring higher levels may not be immediately feasible.
by BlackBull_Markets
20 Reasons for Buy AUDUSD🔆MULTI-TIME FRAME TOP-DOWN ANALYSIS OVERVIEW☀️ 1:✨Eagle eye: A completely bearish trend is in place. The last low was created in 2001, followed by a CHOCH (Correction of Higher Chance) that occurred in 2011. The market then entered a correction phase and formed a valid lowest level in 2020 with a big hammer and heavy volume. This indicates that the market may have formed a higher low and could potentially continue its bullish journey. Currently, the market is making an inside hammer move and coming down for a liquidity grab. Price has reached an extreme level, and if we closely observe, we'll notice that each candle has lower-side wicks. 2:📆Monthly: Despite the overall bearish trend, there is a valid low formed, and at that low point, there is a significant volume which indicates a strong buying area. If we look at the closing of November 2022, there is a big doji candle followed by big bullish momentum moves. The current month's candle also shows a similar character. 3:📅Weekly: A triangle pattern is forming, and it has almost narrowed down according to the timeframe or the triangle's nature. If we check the ratio of bullish and bearish candles from the last low to the current candle, we can clearly observe powerful bulls in control. The internal structure forms a bearish CHOCH, but it immediately creates a fakeout, turning the bearish CHOCH into a bullish pattern. Take this into consideration. 4:🕛Daily: A very strong CHOCH has already occurred, and now the price is making a corrective move after the CHOCH. At an interesting point, we can observe significant volume before the point, indicating profit booking. Following this, there is a classic doji candle and the current big bullish momentum candle that signals a long position entry. 😇7 Dimension analysis 🟢 analysis time frame: Daily 5: 1 Price Structure: Bullish CHOCH 6: 2 Pattern Candle Chart: Doji and momentum candle 7: 3 Volume: Execution volume before 3 days 8: 4 Momentum UNCONVENTIONAL RSI: Shifting from a bearish range to sideways, indicating strength on the upside. RSI holding above the 40 level signifies strength in the upside move. 9: 5 Volatility measure Bollinger bands: After a volatile move, the price is currently in a calm mood. The last squeeze breakout formed a headfake formation where the price initially went down and then reversed, leading to opposite price moves. 10: 6 Strength ADX: Sideways movement 11: 7 Sentiment ROC: AUD is stronger than USD on the scoreboard. ✔️ Entry Time Frame: Daily 12: Entry TF Structure: Bullish CHOCH 13: Entry Move: Impulsive 14: Support Resistance Base: Support at Fibonacci Validation Zone (FVG) and order block (OB) 15: FIB: Trigger event activated ☑️ Final comments: Buy right now. 16: 💡Decision: Long 17: 🚀Entry: 0.6700 18: ✋Stop Loss: 0.6630 19: 🎯Take Profit: 0.6970 20: 😊Risk to Reward Ratio: 1:3 🕛 Expected Duration: 15 days
Long
by Optimum369
AU Dump Set to Soar by an Impressive 3.57%?Technical Analysis : 12 hour pull back chart : Verified by VRVP : I'll join the action only when that red line finally breaks. My strategy involves using a dynamically trailing stop loss approach. Feel free to leave comments if you'd like to receive regular updates on my SL's. Thank you, loyal followers! Your support drives me forward on this incredible trading journey. Let's achieve financial success together!
Short
by UnknownUnicorn14930146
15
BluetonaFX - AUDUSD Triangle PatternHi Traders! There is a long-term symmetrical triangle pattern here on the AUDUSD monthly chart. With symmetrical triangles, breakouts could happen on either side. That being said, from looking at the recent price action along with recent fundamental events that have taken place over the past couple of days, there is a long-term bullish bias to this setup. In the triangle, there is a range level (shown on the chart) of 0.71578 resistance and 0.64583 support. We are looking for a break and a close above 0.71578 to target the psychological 0.75000 barrier. If we fail to break to the upside, then a break and close below 0.64583 will give us opportunities for short positions on the downside to target the 0.60000 psychological barrier. We will continue to monitor this triangle pattern and will inform you of any key updates. While we do this, we will also give you trade ideas on the shorter time frames on this pair as soon as we spot any. Please remember to like, comment and follow to support us; we greatly appreciate it. Thank you for your support. BluetonaFX 
by BluetonaFX
4