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Aussie settles near 0.75 level

al_dcdemo Posted 13 Dec.  in #Trader's blog #Support #Resistance #AUD/USD #Fomc Meeting #Economic Data #Equilibrium Level #D1 Chart
0.75 is the equilibrium level for the Aussie as we await the FOMC meeting. Lacklustre Australian data overnight (HPI, NAB Business Confidence) but some better than expected Chinese data (Industrial Production, Retail Sales) were unable to move it.
The pair has been bumping against the level for the third week. 200 DMA and now 50 DMA are protecting the upside with 100 DMA not far away. Tomorrow is a big day and I think when the dust settles the pair will move through the level to retest longer-te…
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EURo steady to start the week

al_dcdemo Updated 14 Dec.  in #Trader's blog #Support #Resistance #EUR/USD #Symmetrical Triangle #Big Figure #H1 Chart #Equilibrium Level
Current equilibrium level in the Euro appears to be just below the big figure (~1.0980), basically around the mid point of the three-day consolidation which resembles a symmetrical triangle. The bottom of the pattern is found near 1.0950 and the top around 1.1025.
In slightly broader terms, there is a support at 1.0925 - 1.0950 (50's, Pattern Bottom, 50 DMA, Weekly Pivot Point, Previous Day Low, Last Thursday Low) and a resistance at 1.1030 - 1.1060 (Pattern Top, Previous Day High, 200 DMA, Prev…
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