The 0.80 line shows strong confluence for a short trade...

FX:AUDUSD   澳元/美元
234 4
Don’t you just love it when that happens! For those of you who are regular readers you may recall that we set a pending buy order at 0.7805, with a stop-loss order tucked beneath H4 demand (0.7786-0.7804) at 0.7784. Price came within two pips of our order and has since rallied over 100 pips! Our reasoning for this trade call was due to the following structures:

• The weekly candles recently came into contact with a support area marked at 0.7849-0.7752.
• The daily timeframe also showed price interacting with a demand at 0.7786-0.7838, which encased a broken Quasimodo level at 0.7819.
• The 0.78 handle is seen housed within the current H4 demand.

Moving forward, we can see that a decline in US housing data coupled with a technically strong Aussie, forced the commodity currency beyond 0.79 into the closing bell. On the H4 timeframe, the next upside targets can be seen around the mid-level resistance at 0.7950, shadowed closely by resistance at 0.7968. Over on the higher timeframes, however, upside looks relatively free until we reach the daily Quasimodo resistance planted at 0.7988.

Suggestions: Although both the weekly and daily charts suggest that this is a buyers’ market right now, we’re not willing to buy into the noted H4 resistances. Instead, we have our eye on the large psychological band 0.80 for potential shorts. Supporting this level is August’s opening level at 0.7998, a H4 78.6% Fib resistance level at 0.8010 (taken from the high 0.8065), a H4 Quasimodo resistance at 0.8007 and the aforementioned daily Quasimodo resistance.

As weekly price shows room for the unit to trade beyond this zone up to resistance pegged at 0.8075, we would strongly advise waiting for a H4 bearish rotation candle (preferably in the shape of a full-bodied candle) to form from here, before pulling the trigger.

Data points to consider: Australian employment figures at 2.30am, followed by RBA assist Gov . Ellis speaking at 9.20am. US weekly unemployment claims at 1.30pm, followed later by FOMC member Kaplan speaking at 5.30pm GMT+1.

Levels to watch/live orders:

• Buys: Flat (stop loss: N/A).
• Sells: 0.80 region (waiting for a reasonably sized bearish candle to form– in the shape of either a full, or near-full-bodied candle – is advised, stop loss: ideally beyond the candle’s wick).

Get real-time trading updates at our official Telegram group : https://t.me/ICMarketsroom
Thank you for the review.

Do you have an opinion on the AUS200?
ICmarkets TomUnderwood
@TomUnderwood, Sorry Tom, didn't see the message. We'll take a look later on today and see what we think.
ICmarkets TomUnderwood
@TomUnderwood, AUS200 currently trading in a range (daily chart), but overall we believe the index is heading higher from our technical readings.
TomUnderwood ICmarkets
@ICmarkets, Thank you
ZH 简体中文
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 繁體中文
AR العربية
HE עברית
首页 股票筛选器 外汇筛选器 加密货币筛选器 财经日历 如何运作 图表功能 网站规则 版主 网站 & 经纪商解决方案 插件 图表库 功能请求 博客 & 新闻 常见问题 帮助 & 维基 Twitter
概述 个人资料设置 账号和账单 我的客服工单 联系支持 已发表观点 粉丝 正在关注 私人消息 聊天 退出