Tag Archives: AUD

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…

Elliott Wave Analysis On AUDNZD And EURGBP

Gregor Horvat

For those who cannot stay aside during the elections I recommend to look for non USD pairs, as they can be less volatile. Below I am looking at AUDNZD that I would be looking to trade, but after the elections results. Chart shows a clear pattern; five waves up from 1.0235, followed by a contra-trend reaction that can either be finished at recent low, or maybe support will be found near the 1.0350-1.0400 area by the end of the week. The price action is bullish and it suggests more gains while market is above the 1.0235 mark. more…

Elliott Wave Analysis On Copper And The AUDUSD; More Weakness Could Be In For BOTH

Gregor Horvat

Copper is under bearish pressure for the last few weeks, currently testing an important support line connected from December 2015 low, which can be broken if we consider that A-B-C-D-E triangle can be finished. If that’s the case then current decline down from 2.2200 will be an impulsive leg, first wave as part of a bigger impulsive bearish cycle that will take price below 2015 levels. We expect a breakout while 2.1488 remains in place. more…

EUR/AUD M Double Top Shaping Up

Nenad Kerkez

The EUR/AUD is making a progressive M pattern characterized by a double top which in turn makes a POC zone (H3, DPP, trend line) 1.4340-50. The move has already happened so any retest could reject the price again (2nd rejection). Ideally inner trend line should hold for continuation of bearish move. Further continuation is seen below the inner trend line and if H1 candle closes below 1.4280. Close below would target 1.4245 and h4 close below 1.4245 should aim for 1.4185. more…

AUD/JPY T-89 Pattern Suggesting A Possible Bounce

Nenad Kerkez

The AUD/JPY pair spiked after a V shaped reversal at the bottom spiking up to 80.30, slightly below H3 camarilla pivot. Now moment price action is showing a completed T-89 pattern right off L4 support where we can see a confluence zone (L4, 38.2, T-89). Since T-89 has been completed we might see a bounce off 79.70 too towards 80.40 and 80.80. Only if the price breaks 80.80 it will make an ascending scallop towards 81.30. Ideally the price should stay above L4 in order for the price to remain bullish. more…

AUDUSD: Possible Turning Point Around 0.7500

Gregor Horvat

AUDUSD has turned down from 0.7834 high in May after wave C-circled completed a big corrective wave IV flat pattern. A flat has a 3-3-5 sub-waves, so it’s a contra-trend movement that should send price back to the lows. So far, market made a very good and strong bearish turn to 0.7130 with clearly impulsive personality, thus we believe that big black wave V is underway. more…

AUDJPY Low Volatility Zone Keeping The Pair Below Resistance

Nenad Kerkez

Equities is ranging, and most indices are on strong support, if they drop again then JPY pairs could drop a lot (more JPY strength). SP500 below 2040 is very bearish and DAX below 9800 is very bearish too. Additionally – RBA is signalling more rate cuts. Once this happens money will go back into JPY and we will see a stronger JPY again. Also it is very important to keep an eye for FOMC meeting today. more…