Audusdsignal
AUD/USD forms double bottom: 0.727 in sight? The AUD/USD daily chart formed a double bottom at 0.685 last week, a level reached by the pair in mid-May before rebounding to 0.727.
A double bottom is a chart pattern that consists of two pretty equal lows separated by a tiny peak that creates a 'neckline.' It often occurs near the end of a downward trend and may foreshadow a positive reversal.
The last time a double bottom happened was in December 2021, after which the AUD/USD pair rallied 10% to its peak on January 5th.
This might potentially lead to a fresh advance to the 0.727 neckline, which, if broken, would confirm a bullish trend reversal.
The governor of the Reserve Bank of Australia, Philip Lowe, stated this morning that more hikes are likely in the coming months after raising its main rate from 0.35% to 0.85% on June 7, exceeding market expectations of a smaller move.
Inflation in Australia is expected to peak at 7% by the end of the year, according to the latest RBA's projections.
Audusd longsPotential Confluence support (blue) of HTF trend line and HTF support.
On break of LTF descending channel and minor resistance, bullish continuation is highly likely.
This scenario has not yet occurred at the time of publishing so stop loss should be adjusted to the lows that price will give and not just static.
AUDUSD😂These FVG are too good😂 , If u are trading AUDUSD just beware of those FVG level.
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🧅JUST AN OPINION OF THE ONION.🧅
AUDUSD:MA to cap gains?!!AUDUSD
Intraday - We look to Sell at 0.7075 (stop at 0.7135)
We are trading at overbought extremes. The 200 day moving average should provide resistance at 0.7074. This is negative for sentiment and the downtrend has potential to return. We look to sell rallies.
Our profit targets will be 0.6900 and 0.6780
Resistance: 0.7130 / 0.7315 / 0.7500
Support: 0.6970 / 0.6780 / 0.6540
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AUDUSD LONG H4Market Structure: Downtrend
Area of Value: Resistance. Reversal
Entry: Reversal confirmed by RSI divergence
Exit if Right: 2 tranches on possible resistances
Exit if Wrong: below historical support
RRR: 1:2
Confluence: D1 chart respects the support the level, if the bearish pattern/downtrend continues, we will still win on a 1:1 ratio as we are waiting for a rally.
AUDUSD | BEARs READY?AUDUSD has broken the bullish parallel channel and the price is trading in a range for more than 2 weeks now. Is it the distribution at the top?
Yes, it can be a distribution and the price can start falling from here. Mark the sell level and go short below it.
Manage your risk accordingly
AUDUSD and NZDCAD top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.