AUD,NZD/Flows and Orders/Technical Analysis/Trade Ideas

AUD/USD: Look to trade .9580/.9670 technical levels

The short-term bearish trendline has been an accurate indicator in recent weeks and it presently comes in near .9665. Last year’s lows at .9585 (and last week’s lows at .9590) provide the obvious support levels. One side will break pretty soon but play the range edges in the meantime.

  • EUR/AUD; short-term severely overbought momentum indicators are starting to level out.
  • AUD/JPY; daily lows at 96.90 survived the first attempt.
  • Sovereign buyers are reported in AUD/USD between .9600 and .9550.

Conclusion; seems like a decent risk-reward play to buy near .9585 with a stop-loss below .9550.

  1. Good morning, Sean! I think the AUD quite oversold (unless of course there is such a concept in the market), according to the analysis on the weekly chart, there is a point where AUD can be fixed, I think buy small payments to 0.9563, 0.9542 and buy the major part of the 0.9416, wait for a big correction upwards. I long gaining position because my strategy medium-term trade Sean, therefore, such an approach. Good luck to you, Sean!

  2. Hey Sean,

    Does this sound viable based on what you put.. AUD/USD.. buy some USD with the idea of the AUD dropping down to below .96 and then when it hits the .95 levels you stated, jump out of that and pick up the AUD heading up?

  3. Yes indeed Steven, that is a viable plan. I know you are fairly new to trading, and a real good plan at the beginning is to be very exact with entry and exit levels. Have an exact stop-loss and take-profit ratio in mind. Don’t enter the mkt just to have a position; wait until your exact levels are reached. Good luck with it and stay very very small in the beginning; this is an ultra-marathon, not a sprint 🙂

  4. Yes small bids are the order of the day (well lots of days), my whole goal is to ease in and figure it all out. I appreciate you taking the time to answer my questions, especially being so obviously new. Your blog is a real asset.

    Cheers

    S.

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