Published on: September 25, 2017
AUDUSD major levels of resistance:
0.8170 (3 Year High, 100% Fibonacci extension, 161.8% Fibonacci extension)
AUDUSD major levels of support:
0.7830 (Fibonacci retracement, Horizontal pullback support, Bullish price action)
0.7740 (Fibonacci retracement, Horizontal pullback support)
AUDUSD technical indicators:
RSI (34) is seeing strong support above 55%.
Published on: September 22, 2017
Buy above 88.92. Stop loss at 88.50. Take profit at 89.79.
Reason for the trading strategy (technically):
Price is seeing strong support above 88.92 (Fibonacci retracement, ascending support) and we expect to see price continue on its bullish trend by making a push up to 89.79 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (34,3,1) is seeing strong support above 5% and we expect a bounce above this level.
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Buy above 111.71. Stop loss at 110.97. Take profit at 113.41.
Reason for the trading strategy (technically):
Price has continued to rise strongly and we look to buy on dips above 111.71 support (Fibonacci retracement, horizontal pullback support) for a further push up to at least 113.41 resistance (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance).
RSI (34) sees support above 50% where we expect further bullish momentum from.
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Buy above 0.7913. Stop loss at 0.7869. Take profit at 0.7986.
Reason for the trading strategy (technically):
Price has dropped strongly and is now testing major support at 0.7916 (Fibonacci extension, Fibonacci retracement). We expect to see a corrective bounce from this level to push price up to at least 0.7986 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,5,3) is seeing major support above 4.7% where we expect a bounce from too.
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Sell below 1.1966. Stop loss at 1.2001. Take profit at 1.1869.
Reason for the trading strategy (technically):
Price has bounced up strongly as expected. We now prepare to sell below major resistance at 1.1966 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension) for a push down to at least 1.1869 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,3,1) is seeing major resistance below 92% and we expect a drop from this level.
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Buy above 0.9679. Stop loss at 0.9629. Take profit at 0.9757.
Reason for the trading strategy (technically):
Price continues to inch down towards our buying area. We remain bullish looking to buy on dips above 0.9679 support (Fibonacci retracement, horizontal pullback support) for a further push up to 0.9757 resistance (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance).
RSI (34) has made a bullish exit of our triangle formation and remains in a bullish configuration.
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Buy above 0.7303. Stop loss at 0.7243. Take profit at 0.7409.
Reason for the trading strategy (technically):
Price has dropped as expected to our buying area. We look to buy above strong support at 0.7303 (Fibonacci retracement, swing low support, bullish price action) and we expect a bounce above this level to push price up to at least 0.7409 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (21,5,3) is seeing strong support above 3.9% where we expect a bounce from.
Published on: September 21, 2017
Sell below 134.15. Stop loss at 134.92. Take profit at 132.01.
Reason for the trading strategy (technically):
Price continues to test major channel resistance and we look to sell below this level of resistance (Swing high resistance, channel resistance, Fibonacci extension) for a short term correction to at least 132.01 support (Fibonacci retracement, horizontal pullback support).
Stochastic (55,3,1) is dropping nicely from our 96% resistance level with good downside potential.
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Buy above 111.71. Stop loss at 110.97. Take profit at 113.41.
Reason for the trading strategy (technically):
Price has continued to rise strongly and we look to buy on dips above 111.71 support (Fibonacci retracement, horizontal pullback support) for a further push up to at least 113.41 resistance (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance).
RSI (34) sees support above 50% where we expect further bullish momentum from.
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Buy above 0.7990. Stop loss at 0.7934. Take profit at 0.8083.
Reason for the trading strategy (technically):
We look to buy on dips above major support at 0.7990 (Fibonacci retracement, horizontal overlap support, bullish price action) for a further push up to at least 0.8083 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance).
Stochastic (34,5,3) is seeing major support above 4.7% where we expect a bounce from.
