AUDUSD was strong bearish in 2018 and we were selling AUDUSD right from the top when it was at the 0.81. The bearish fall was very nice and we enjoyed that fall very well.
Now its time to look for it to go back up and hit the 0.81 area again. This is a weekly chart it will be hard for you to get in the market on this weekly chart. Even this weekly chart is not ready to buy currently i mean. We dont have enough price action on lower time frame for reversal. Which means we still can see one more fall on lower time frame before we see reversal on AUDUSD. Once price start to rise you will have many buy opportunities on AUDUSD. In the same way the way you were having sells every time when it was correcting back on you guys were selling it.
How you can trade on this chart.
1. Let the price breakup the bearish trend sharply once price do that you can join that sharp rise or let the price forms correction after that. Where ever you feel comfortable.
Or
2. Let the price fall for one more bearish wave. If so go for short term sell and once price hit the bottom look for solid bullish price action and join the long.
Or
3. Wait for my updates. For these updates you can follow my weekly market outlook where i show how to look for buy or short term sell on this pair. Or Simply wait for my lower time frame updates on AUDUSD.
Make sure early buys can end up with losing trades. Reasonable price action is required before you but your money in. If not sure what to look for before you jump in then i suggest you to learn that before you jump in.
In case price keeps falling and break below the previous lowe and forms new low. We will sell it on lower time frame for short term or medium term but we will remain longer term bullish on this chart.
This is the longer term opportunity which should not be missed.
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Thats what we are looking for on lower time frame.
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You the best imran! Analysis straight to the point & simple to understand
mhdabd
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Hey any update for the chart please!!
VinnyTheTrader1
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i think you are too biased for long position on AUDUSD and EURUSD..to be honest RBA doesn't want AUD to be strong and are not looking to make any changes to monetary policies..just my 2 cents from fundamental side..
infin0
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If the AUDUSD interest rate differential is set to widen and remain through to the end of 2019 why would AUD rise? While the US/China tradewar and EM govt bond troubles remain there will be strong demand for USD. China economy is also built on a house of cards a the moment which does not bode well for AUD over the next year. I cannot see the case for an AUD reversal.
Antonio_trader
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Next FED meeting could trigger a reverse for this pair perhaps, with the down trend line, 0.72 seems to be a nice resistance level to go long through if this does not go lower next week.
mortdiggiddy
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In mid-november DXY makes a "top". AUDUSD may need a double bottom and rise with gold after the 4th quarter FOMC statement in mid-december.
Good luck Sir,