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DAY 2 - AUDUSD ANALYSIS

At present I am unbiased as far as direction on AUDUSD. However, there are two important levels to watch to get involved in a trade on AUDUSD. The resistance at 0.8065 would be good level to short again with take profit target around 0.7785 area. Moreover, should the price continues to decline and hit support level at 0.7785 then most likely price would retest resistance at 0.8065.
Both trades could provide excellent risk to reward ratio, if trades are taken based on price action on lower time f…
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DAY 19 - AUDUSD ANALYSIS

Australian economy continues to show improvement in last couple of months, as trade surplus is rising, consumer spending remain well above expectations and employment numbers are showing that businesses are remain optimistic about future economic growth.
From technical perspective, AUDUSD remain in an uptrend as price continues to make higher highs and higher lows on Weekly time frame. Next major resistance is around 235 pips away and price is expected to hit this level in next few weeks. Howeve…
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DAY 5 - AUDUSD OUTLOOK

Some important news scheduled this week from Australia which could provide plenty of volatility on AUDUSD pair. Tomorrow we have RBA Rate Statement and on Wednesday Quarterly GDP and finally on Thursday Trade Balance from Australia & China.
As of lately we have seen some selling pressure on this pair and as such any dovish comments from RBA and weak GDP growth could take this pair down considerably.
From technical perspective the pair remain in a 200 pip range since beginning of May 2017. Price …
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DAY 1 - AUDUSD ANALYSIS

Some major economic news event scheduled this week, as such an important week ahead for Australian Dollar. First we have RBA interest rate announcement on Tuesday, followed by Trade Balance numbers on Thursday and finally RBA Monetary Policy Statement on Friday. From fundamental perspective the price action would be influenced by RBA Statement and economic numbers, however technical perspective would give us an indication as to which side is dominant.
From Daily charts it is quite evident that s…
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DAY 7 - AUDUSD ANALYSIS

RBA kept interest rate unchanged and we have seen hawkish tone from RBA Governor but there was not much bullish reaction on this pair.
From technical perspective AUDUSD remain range bound in last couple of weeks, however price broke out of this range on 1st of March and in doing so cleared two support levels at 0.7637 & 0.7610. Today we have seen a retest of both levels and price was quickly pushed down. I am expecting this support level to hold as resistance on any retest and a move down into 0…
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DAY 4 - AUDUSD ANALYSIS

We have seen some buying interest in AUDUSD on Friday. The pair is expected to go higher in coming weeks as I am expecting some retracement after an impulsive move down.
We have couple of important news lined up in coming week: RBA interest rate decision & 3rd Quarter GDP. Last month RBA kept interest rates unchanged at 1.5% which was in line with market forecast. Moreover, RBA stated in their statement that they are satisfied with recent data and that it is consistent with sustainable growth in…
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DAY 13 - AUDUSD ANALYSIS

Today's price action indicate that AUDUSD sentiment is changing from bullish to bearish and new down trend is underway, as price broke out of an important support level at 0.7490. However, there is another support level at 0.7420 and if we see a clear break of this support level too then this pair is likely to drop atleast 200 pips towards 0.7220 level.
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DAY 13 - USDJPY & AUDUSD TRADES UPDATE

"Education does not end in school. To be successful in life or trading we must never stop learning. The market and the world are constantly advancing and changing and the only way to keep up is to keep learning"

Couple of trades entered on Wednesday, one closed at breakeven and another with 68 pips in profit. Here are trade reasons:
Trade 1 - USDJPY entered a buy limit order at H1 demand zone with around 100 pips stop loss and 200 pips take profit target. There was immediate reaction from the zo…
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DAY 7 - AUDUSD ANALYSIS

The Reserve Bank of Australia leave the interest rate unchanged to 1.75%. Moreover, the RBA statement was less dovish as compare to previous statements and there was no mention of future interest rate cut and as a result Aussie Dollar gained against other major currencies.
From technical perspective, AUDUSD is still in corrective move after a steep decline. The pair has now retraced around 50% however there doesn't seem to be any selling interest yet, so that best option would be to wait for pro…
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AUDUSD ANALYSIS

AUDUSD dropped around 450 pips of the highs this month and the price action suggest further bearish movement after interest rate cut by RBA as well as other economic indicators showing signs of slowdown.
From technical perspective, 0.7180 remain an untested demand zone so some bullish reaction is expected at this zone. Once this zone is cleared the next demand zone is deep down at 0.6830, so plenty of downward space available and a good risk to reward ratio trade, if this pair is traded at right…
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