The open of today's session marks the third consecutive bullish day for the Australian Dollar against the USD. As seen from the chart, price is within a rising channel and opened today above the pivot price which is at 0.7380. Technical indicators point towards more upside including the RSI and hourly moving average lines.
Best trade recommendation will be go long targeting 0.7440 and 0.7450. Trade entry should also be done carefully. It may be worth considering waiting to go long only when price moves back towards the support zone of the channel or breaks out above the resistance line. Alternatively, if price reverses and moves below the pivot price, then short positions can be considered with targets around 0.7365 and 0.7350.
Posted on: May 15, 2017
The pair has been on an uptrend for a while now and is bullish on several time frames. Today the market opened above the pivot price which is at 113.95. Technical indicators including the RSI and 50 MA on the hourly chart all points at potential for further upward movement.
Provided price stays above the pivot, long positions are recommended with targets around 114.40 and 114.70. On the alternative, if price reverses and moves below the pivot, then short positions should instead be considered with targets around 113.60 and 113.40.
Posted on: May 11, 2017
The market opened today below the pivot price which is at 0.7375, and currently is around the resistance line of a bearish channel. There are two scenarios that can occur here.
BUY SCENARIO: The RSI can be seen to have moved above 50, which shows the sentiment is gradually moving to become bullish. To go long, ensure to observe that price breaks above the resistance of the outlined channel and also moves above the pivot price outlined with the green horizontal line. Long positions can target 0.7400 and 0.7425.
SELL SCENARIO: If it is observed that the resistance line holds firm and price heads back downwards (i.e. it was not able to break above resistance/pivot), then short positions can be opened with targets around 0.7325 and 0.7300.
Posted on: May 10, 2017
Following the win of Emmanuel Macron as the next French President, the Euro reacted by simply following the technical pattern that had already been established on the daily chart. (more…)
Posted on: May 9, 2017
The financial markets are about to get busy. With a string of fundamental data and political events lined up, traders can buckle up for considerable volatility. From the upcoming French Presidential elections to crucial oil inventories, interest rate decisions by the ECB and the U.S Feds, down to GDP figures to be released in Britain, here’s what we know. (more…)
Posted on: April 24, 2017
We are hosting a FREE webinar this week to help traders learn new trends and interact with professionals at our prestigious office–1/3