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Audusdlong

AUD/USD has formed a bullish daily candle in the demand levelA bullish candlestick has formed in the daily chart at a very important demand level. This could be a very significant development for AUD/USD traders as price may have started reversing. Buyers can buy as long as price doesn't break the demand zone that I have highlighted in my chart. If the reversal is confirmed then AUD/USD could reach 0.70 level in the next few weeks. 0.6680-0.6720 remains my favored buy zone.
Long
by YourLazyTrader
5
AUDUSD Long Trade SetupA bullish opportunity recently presented itself on the aussie-dollar trading chart. This follows from the bullish engulfing candlestick pattern which printed just above the 0.66800 psychological level. A stop loss below the same psychological level and a profit target anywhere between your entry and the swing high of 0.71403 could give you a reward-to-risk ratio as high as 5 or even higher. Be sure to size your position based on your trading account balance and apply other risk management measures before placing trades. Rooting for you! Your FX Plug FX:AUDUSD
Long
by charles-okoukoni
AUDUSD – LONGBuying opportunity from Major Support Level and Demand Zone . Buy on a false breakout! The target is next POC level in Supply Zone. AUDUSD – LONG ENTRY PRICE - 0.67400 SL - 0.66700 TP - 0.69550 Always follow the 6 Golden Rules of Money Management: 1. Protect your gains and never enter into a position without setting a stop loss. 2. Always trade with a Risk-Reward Ratio of 1 to 1.5 or better. 3. Never over-leverage your account. 4. Accept your losses, move on to the next trade and trust the software. 5. Make realistic goals that can be achieved within reason. 6. Always trade with money you can afford to lose. Please leave your comment and support me with like if you agree with my idea. If you have a different view, please also share with me your idea in the comments. Have a nice day!
Long
by Profit_Trader
AUDUSD Falling Wedge And Double BottomLooking at Trading a possible falling wedge and double bottom on AUD/USD today in the 4-hour chart. My bias is still in fact, bearish. Prices are still moving lower and on the Daily chart, we can see we have a nice gap where prices can still fall right down to the 0,668 price level. So, looking for longs right now is all very well and good, however, we have to be careful and make sure we have bullish confirmation of a reversal before we go jumping into the deep end and going long right away. On the 4-hour chart, we have a falling wedge with price bouncing nicely in between the top and bottom of this wedge. Usually, we will see a breakout from a falling wedge, which will usually be to the upside. We also have a possible double bottom inside of this falling wedge. I have highlighted the neckline in yellow. We would need to see the price strongly break out of the wedge and straight through the yellow neckline. We would need to see bullish volume accompany this move to help confirm that the bulls are back. We have partial divergence on the MACD’s Histogram. This means that the sellers may weaken and the buyers may be getting ready to regain market control. My concern is the large gap in the daily time frame. We still have space to fall. And, if we do fall further, we can then look for further short entries, using that previous daily support level as a target. However, no short setups currently present themselves, at least to me. I am patiently waiting to see if the price will break to the upside and reclaim that yellow line as support. We have Bullish confluence all around: Falling Wedge, Double Bottom, Partial Divergence. But, as much as we would like to try and convince ourselves that the price will indeed reverse from this point, the truth is, that on higher time frames, the price movement is still bearish. We are still making lower lows. So, let's watch what happens today. Perhaps we will get a bullish breakout. See you on the next one. The Vortex Trader
by TheVortexTrader
1
Will the AUD turn on Tuesday’s rate hike? The Reserve Bank of Australia (RBA) will release its interest rate decision on Tuesday September 6. Forecasts are for another half-percent increase in the cash rate. If forecasts hold up, Tuesday’s rate hike will be the fourth consecutive 50-basis-points increase from the RBA, lifting the cash rate to 2.35% from the current 1.85%. Still, even with another rate hike under RBA’s belt, not many investors are pegging the AUD to start outperforming the USD to any great degree or for any sustained period. To analyse the current trend for the AUD/USD, we can use the Trend Meter Indicator. This indicator can help confirm whether the direction of a pair might turn. The Trend Meter Indicator aggregates the data from several other indicators to measure the current strength of the movement, such as the MACD, RSI signal line cross, and MA cross. If the Trend Meter Indicator shows green dots consecutively, the trend is seemingly bullish and will likely continue so long as it stays on the green side. However, if a red dot appears after a long streak of green dots, the trend might be thought to reverse. With the use of the trend meter indicator, we can see that the indicator has already given a bearish signal at the end of August on the daily timeframe by providing a red dot indication. Since then, there has been no sign of green dots, which means that the trend on the downside is still intact, even with support being created at 0.67800. Traders who want to trade the pullback to the upside might want to wait for the green dot signal using this indicator. Otherwise, it may be wiser to looking for a bullish Australian dollar with other AUD pairs.
by BlackBull_Markets
1