Author Topic: AUS/USD 1.04 level  (Read 9677 times)

Nicodemus

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AUS/USD 1.04 level
« on: February 04, 2013, 04:13:27 AM »
Greetings folks!

The Aussie last week has been meandering around the 1.04 level, note the average true range per day is about 60 pips. 

We have potentially very strong support at 1.0360 level and solid resistance at the 1.0475 level which where last weeks low and high respectively.

I have attached a chart with 1 hour candles (trying to be more professional :D ) with important levels thanks to Koala and Elmar for pointing out some solid levels.  Note the big bounce off the 1.0400 level earlier last week and then off the 1.0390ish level a couple of days later and then off the 1.0360 level near the end of the week.  So you can clearly see the lower lows and higher lows. So this suggest a downwards trend developing but I ain't betting on it yet.

Generally from what I have read there is bearish sentiment at the moment and also the 200 sma (white line) at close is above the price action. 

This week we have building approvals announcements but more importantly an interest rate decision although many folks suggest this will stay at 3% but this is not written in stone so be warned and if it differs expect some volatility!

I have no trade plan yet going to be a patience Koala and see what the week brings  8)

Also any comments or suggestions for improving my chart analysis let me know.  Is the hour chart good to go by??? Thanks



[attachment deleted by admin]
« Last Edit: February 04, 2013, 04:48:13 AM by Nicodemus »

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AUS/USD 1.04 level
« on: February 04, 2013, 04:13:27 AM »

elmarvotri

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Re: AUS/USD 1.04 level
« Reply #1 on: February 04, 2013, 07:30:43 AM »
Hello Fellow Koala Nicodemus! Ready for another week of trades? hehe
Your charts looks very good to understand! This is the rule. Kiss Rule. The simplest the chart, the easy to understand it and trade.

Im looking to my audusd charts and I cant see a good setup here, according to my system for trades of course. You can trade almost any system if you have a good money management, and if it fits you best.
1.04 indeed is a strong support, but Ill stay flat audusd until I see good reason to trade it.
I learned a thing with pro traders and books: if you do not clearly understand an instrument, do not touch it. :) Better loose a trade than your money.
 :D



Greetings folks!

The Aussie last week has been meandering around the 1.04 level, note the average true range per day is about 60 pips. 

We have potentially very strong support at 1.0360 level and solid resistance at the 1.0475 level which where last weeks low and high respectively.

I have attached a chart with 1 hour candles (trying to be more professional :D ) with important levels thanks to Koala and Elmar for pointing out some solid levels.  Note the big bounce off the 1.0400 level earlier last week and then off the 1.0390ish level a couple of days later and then off the 1.0360 level near the end of the week.  So you can clearly see the lower lows and higher lows. So this suggest a downwards trend developing but I ain't betting on it yet.

Generally from what I have read there is bearish sentiment at the moment and also the 200 sma (white line) at close is above the price action. 

This week we have building approvals announcements but more importantly an interest rate decision although many folks suggest this will stay at 3% but this is not written in stone so be warned and if it differs expect some volatility!

I have no trade plan yet going to be a patience Koala and see what the week brings  8)

Also any comments or suggestions for improving my chart analysis let me know.  Is the hour chart good to go by??? Thanks

Offline TheForexKoala

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Re: AUS/USD 1.04 level
« Reply #2 on: February 09, 2013, 11:14:01 PM »
1.0230 for longer term target ??

Nicodemus

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Re: AUS/USD 1.04 level
« Reply #3 on: February 10, 2013, 03:34:07 PM »
My best guess is its going to keep falling to 1.018 - 1.02 due to candles touching this area in the weekly chart.  But before this I think there will be consolidation and could see the AUS back up to 1.04 before continuing momentum downwards.  However as always have to be flexible because it could go upwards from here :D

No trading last week was just too busy with my day job! :(  Hopefully get some trades in this week!

Nicodemus

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Re: AUS/USD 1.04 level
« Reply #4 on: February 10, 2013, 05:50:37 PM »
Well heres a daily chart its going back 6 months though.

[attachment deleted by admin]
« Last Edit: February 10, 2013, 05:53:39 PM by Nicodemus »

elmarvotri

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Re: AUS/USD 1.04 level
« Reply #5 on: February 11, 2013, 08:49:35 AM »
Hello Nicodemus!
Audusd looks pretty bearish for me too! I think a good place for short is somewhere around 1.0360 and 1.04 that before was our support! :)
One day well be good trades that will allow us to quit our job to enjoy our financial freedom on forex!
This is a dream of me too!  :D

elmarvotri

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Re: AUS/USD 1.04 level
« Reply #6 on: February 15, 2013, 09:48:22 PM »
Hello Fellow friends and Aussie  traders! Looks like after breaching down 1.04 level audusd is going strength down.
I Believed yesterday  that 1.0360 area should work as a good resistance and prepared a future sell order to open at 1.0335. Now my position is open and I expect the Aussie reach 1.02 level next week!
Lets see folks!  8)

Nice weekend everybody!  :D

Offline TheForexKoala

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Re: AUS/USD 1.04 level
« Reply #7 on: February 17, 2013, 02:03:36 AM »
1.0230 tested.  Sweet :) extended target 1.0150

elmarvotri

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Re: AUS/USD 1.04 level
« Reply #8 on: February 18, 2013, 10:51:45 PM »
Hello friends!  :D
audusd looks pretty bearish and is forming a little reatrace right now. I believe, like our friend TheForexKoala, in a retest of 1.0230-00. ;)

Nicodemus

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Re: AUS/USD 1.04 level
« Reply #9 on: February 20, 2013, 03:51:10 AM »
Aus up to 1.0350ish level which is near the mid of the large range I had on chart.  It makes me wonder which way next :D

Offline rourkem

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Re: AUS/USD 1.04 level
« Reply #10 on: November 30, 2014, 11:35:22 AM »
Hi guys, where can I find new updates for this and onto the next year?

Offline TheForexKoala

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Re: AUS/USD 1.04 level
« Reply #11 on: December 04, 2014, 12:13:27 AM »
Stay tuned :)

Offline Sophia

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Re: AUS/USD 1.04 level
« Reply #12 on: January 17, 2016, 11:58:27 PM »
i am a new user