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AUDUsd pushing to break long term downtrend

AudUsd is looking to challenge long term downtrend
Looking at the weekly chart I see a long term downtrend:
Indicators (DiNapoli) and SMA's are pointing to bullish action, though
And a shorter term trendline seems to be leading the pair up to longer term downtrend upper border
On the daily chart it becomes more clear:
Here too, indicators are mostly bullish, and we can see price action playing out
I believe that longer term trendline will be tested and should hold at first
The daily trendline sh…
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Pair is looking bullish now, after pushing above 0.76 (after RBA rate cut!) and staying above that level even after strong US data today - my target seems near now

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AdamFx42 15 Ago

pair is slightly above target now - looking good

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AdamFx42 15 Ago

Upper trendline has held the move up - as I predicted - probably a retest to come though, pair should be led slightly lower, as it is declining trendline, this means that 0.77 should be resistence now

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AdamFx42 21 Ago

Price is holding just below target and above 0.76 support - I am happy

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AdamFx42 26 Ago

Right on target now - nice

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GBP looking to breakout of downtrend

Gbp crosses are looking to breakout of downtrend as GbpUsd strength continues
GbpUsd is going up on its way to retest previous highs
At the same time GbpAud has broken a downtrend
It looks like traders are bullish Gbp
Lots of US data today - including the Yellen speech- does not seem to be expected hawkish
US is coming back on its promise to raise interest rates a number of times this year
I will be looking if 61.8% retracement of previous move down GbpUsd holds
This level is around 1.4340, and …
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CHF/JPY held up by closing wedge pattern

Chf/Jpy has the potential to go up higher again
On the weekly chart we can see that the price is just below 38.2% fibonacci retracement level
for the third time - failing to break below each time
One of the reasons for this is the (still) bullish nature of the pair,
another reason is the forming of a bullish closing wedge pattern with a lower border just below the fib level
Chf/Jpy weekly chart
On the daily chart I have drawn the price action that I think will occur if the lower border
of the ab…
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AdamFx42 19 Oct

Lower border of the closing wedge pattern has been tested, but price has held above,
a further upmove should follow along with strengthening Usd/Jpy

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AdamFx42 30 Oct

Upmove has come and higher border of the pattern should be tested too
price on target now

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Bearish weekly Flag pattern for GBP/CAD

A clear bearish Flag pattern can be seen on the weekly chart of Gbp/Cad,
this pattern forms a downward channel,
and most of the times the breakout will be to the downside:
Gbp/Cad daily chart
On the daily chart I do not see any pattern,
but price action seems to be going to the downside at this moment,
and the lower border of the flag pattern seems in reach:
Gbp/Cad daily chart
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AdamFx42 27 Ago

well,breakout came much sooner than I expected - looking for a retest of trendline from below around 1.8 now

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AdamFx42 10 Sep

Still 300 pips left in the climb back up again now  :-) to lower border retest

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AdamFx42 11 Sep

now 150 pips

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AdamFx42 23 Sep

there we go -- only 30 pips from target now  :-)

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AUD strength prevailing on all fronts

Aud/Jpy should be moving up after 61.8% fibonacci retracement on weekly timeframe,the target for November should be around next resistence at 95.35On the weekly chart we can see that Fibonacci support at 61.8% holds after last move up and retracement downThe fibonacci expansion target points to 105, which indicates a long term move up and breakout of previous highs,but I don't expect this target to be hit in NovemberOn the daily chart we find that RSI holds well bullish and that MACD is crossing…
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need a strong move up now to break resistence

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AdamFx42 17 Oct

Going strong now at 94+, should be exciting finish as three contestants are in the 95 area with their predictions

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AdamFx42 23 Oct

This pullback to around 94 is fine, if we can get back up to 95 the coming week ...

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AdamFx42 27 Oct

Aud/Jpy was hit hard last week because of trouble in China, so retracement looks like too much to recover from in the next couple of day's I was close, though, and I am feeling more confident in my predictions

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AdamFx42 28 Oct

It seems that demand for Aud may be back because of eventual postponement of tapering by the FOMC - we shall see what happenes, it does mean 0.95 is a possible target again

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Gold on the Rise after Completing Pattern

Gold is showing signs of another move upAfter hitting the target of a Rectangular Pattern that we can see on the weekly chart, I will now be estimating the retracement up:As we can see on the weekly chart XAU/USD has completed a Rectangular Pattern and hit the target a couple of weeks ago, a pullback from that target should start now.Gold has been under great pressure, and although the bounce was huge from the target initially, Gold continued its decline afterwardsNow that Gold has stabalized th…
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Waiting for 1200 to hold, and a push back up this week - USD may weaken some and give gold some room

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AdamFx42 21 Jul

1300 is in sight - a break will signal strong bullish action and 1400 may follow soon after

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AdamFx42 26 Jul

Above 1300 now - lets see if we can push up a lot more coming week........

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I think price of gold a lot depends on US interests rates and unemployment

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piter44 19 Ago

Going higher but there is one truth, gold and other materials grow 3 times slower then fall ;-) I play only short ones on this precious metal :)

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