Tag Archives: AUD

AUD/USD Bullish Wicks Mark New Wave Of Buyers

Nenad Kerkez

The AUD has been rebounding of late, with stronger Employment numbers for the month and a reduction in the Unemployment Rate to 5.7% as it approaches full employment. Interestingly, the MI Inflation target is 4% for the next 12 months, which may signal rate hikes in the near future. USD weakness continues, and the USD Index looks destined a bit lower, with lower manufacturing numbers, but with all other indicators relatively stable, the concerns lie with whether Trump can now deliver on his Tax cut promises for the next boost to the US economy. more…

AUDUSD Elliott Wave View: Pullback In Progress

Daud Bhatti

AUDUSD is showing 5 swings sequence from 12/23/2017 low after it managed to break above 02/23 peak so the sequence is bullish against Intermediate wave (X) low (0.7487). The pair did 5 waves impulsive move from 03/09 low in Minute wave ((a)) which ended at 03/23 peak (0.7749) and currently doing Minute wave ((b)) pullback that’s unfolding as a double three structure. We expect Minute wave ((b)) to complete in the blue box equal legs area (0.7571 – 0.7544) where AUDUSD can resume more…

AUDUSD Elliott Wave View : 5 Waves Move

Daud Bhatti

AUDUSD ended the correction in Intermediate wave (X) after reaching 0.7486 and then started rallying from there. With today’s new high the pair is showing 5 waves impulsive move from 03/09/2017 low and has already reached the minimum target area for Minutte wave (v) to end. The minimum target for Minutte wave (v) can be calculated as the inverse 1.236-1.618 Fibonacci extension of Minutte wave (iv) which comes at more…

AUD/NZD For Feb 01 AUD/NZD Bounces Off Support

Nenad Kerkez

The AUD/NZD bounced off support as expected, driven by worse than expected Unemployment Rate (5.2 % vs 4.8 %) while AUD Commodity Prices showed an increase by 10.9%. Technically POC comes within 1.0355-1.0370 (DPP, L3, 61.8, ABCD hist). The up move is supported by historical ABCD pattern at L3 support so on the next retest of POC zone we might see another bounce towards 1.0430 region. If we don’t see a retracement to POC then a strong h1 momentum or 4h close above 1.0435 might push the price to 1.0470. more…

EUR/AUD Strict Bullish Wolfe Wave At The Bottom Of ATR

Nenad Kerkez

The EUR/AUD has been dropping heavily but at this point the ATR has already been overshot by 9 points (see the top left corner). We could see a counter trend movement in the pair where the trend line 1-3 might be a signal for a potential breakout for the long trade. Have in mind that this is a potential breakout only as point 5 might still extend to the downside. Signal for breakout is the break of 1.4296-98 to the upside and we might see EPA (Estimated Price at Arrival) target hit. EPA confluence with ATR is 1.4340-52. This is a strict Wolfe Wave because point 4 lies between points 1 and 2. more…

AUD/JPY Making Strong Bullish Swings Above Order Blocks

Nenad Kerkez

Base metals are up – Copper, Iron Ore. LNG (Oil) is also stable and going up while Australian Treasury Yields have increased the past month. We can see an overall JPY weakness across the board. Technically, we have 2 POC zones 83.10-25 is the retracement trend line break and X cross ™ so if the price pullbacks to the zone it might spike up. The price is above H3 camarilla resistance so it might also reject from H3. In the case of deeper retracement we should pay attention to 82.65-75 POC2 (trend line, DPP, L3, bullish order block). The 4h close or 1h momentum above 83.40 should aim for 84.40 – final target for this swing. more…

Dollar Shines In An Eventful Week In US Politics

Fawad Razaqzada

Contrary to most analyst predictions, including ourselves, the US dollar looks set to close the week higher after an eventful week in US politics. The greenback has surged higher against most currencies except the British pound, which has been supported by the Bank of England dropping its dovish bias amid concerns about overcooking inflation in the UK. In contrast, the euro, yen, Swiss franc and all the commodity majors have slumped versus the dollar. The Canadian dollar has resumed its downward trend amid slumping oil prices, weak domestic data and on the back of a dovish Bank of Canada. Elsewhere, the Reserve Bank of New Zealand cut interest rates in mid-week and warned of more easing steps due mainly to a strong currency and the kiwi has correspondingly sold off. more…