Tag Archives: AUD

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…

Elliott Wave Analysis On GBPUSD And AUDUSD

Gregor Horvat

able is not showing us any clear and strong bearish waves yet, so market can still be in intraday consolidation phase. We are looking at an expanded flat in wave 2) which may look for resistance after wave C, near 1.4540-1.4570 area. If from any reason price will decline sharply to 1.4300 then this could be considered as wave three in progress. But anyhow, we think that sooner or later cable will fall to much lower levels while it trades beneath 1.4769. more…

AUDJPY Bearish Divergence Could Bring Risk-Off Sentiment To The Fore

Nenad Kerkez

Commodities and Equities prices have rebounded from their interim lows of Early February 2016, and it has resulted with strong gains across these markets. Clearly this has been a risk-on scenario, causing AJ to be bullish during this period as well. Equities are reaching key resistance levels and are showing signs of market fatigue by the End of this Quarter and Month. This shows that risk-off sentiment may come back to the fore, meaning it could be a nice setup for a short position on AJ. more…

EURAUD Strong Downtrend Continues

Nenad Kerkez

This week we have the ECB meeting, with analysts predicting further forms of QE by reducing deposit rates, which should weaken the EUR. Of recent, we’ve seen Commodities prices rebound, in particular Iron Ore, Copper, Gold, OIl (and coupled pricing on LNG), all key exports of Australia, causing AUD to appreciate. On this basis, should commodities prices continue to recover and ECB introduces further QE then EURAUD will proceed below our daily target that is 1.4650 and might extend to 1.4350 that is clearly seen on daily chart with a strong T-89 pattern rejection. more…

AUDJPY Bearish Equities Support The Drop

Nenad Kerkez

I have explained it many times during webinars- AUDJPY is a great pair to trade in correlation with equities. Today we have a risk off sentiment as 29 of the 30 Germany DAX companies are down in price. That is reflecting on Yen pairs. Basically, when its risk-on environment, commodities prices tend to increase, and traders go long AUD due to that factor. When commodities prices go up, stock Markets go up and there is demand for positive swaps on AUD pairs currently as opposed to JPY. When its a risk-off environment, usually the opposite occurs, and as a result, the JPY appreciates as foreign flows from Japan are repatriated back to their local currency. more…

AUDUSD Triple Top Holding The Price

Nenad Kerkez

The light volume and lower volatility made AUDUSD possible trade bidirectionally. The initial rebound from 0.7050 made 30 pips initially as suggested on previous Session Recap webinar followed by a decline caused by investors dumping assets. Today’s FED’s chief Yellen testimony could be volatile and that is why I recommend caution. The testimony has been scheduled for 15:00 GMT. As head of the central bank, which controls short term interest rates, she has more influence over the nation’s currency value than any other person so pay attention to subtle clues about future monetary policy. more…