Jump to content

Australian Dollar Technical Outlook: AUD/USD Threatens Breakout at Yearly Open


Recommended Posts

Jun 8, 2022 | DailyFX
Michael Boutros, Strategist

AUSTRALIAN DOLLAR TECHNICAL PRICE OUTLOOK: NEAR-TERM TRADE LEVELS

  • Australian Dollar technical trade level update – Daily & Intraday Charts
  • AUD/USD rally stalls into yearly open resistance- June opening-range breakout in focus
  • Resistance 70270, 7313/43 (key), 7414 - Support 7109/23 (key), 7067, 6991-7016

Australian Dollar Technical Forecast: AUD/USD Rally Stalls into June

 

AUSTRALIAN DOLLAR TRADER SENTIMENT – AUD/USD PRICE CHART

Australian Dollar Trader Sentiment - AUD/USD Price Chart - Aussie Retail Positioning - AUDUSD Technical Outlook

  • A summary of IG Client Sentiment shows traders are net-long AUD/USD - the ratio stands at +1.40 (58.39% of traders are long) – typically a weak bearish reading
  • Long positions are5.53% lower than yesterday and 4.62% higher from last week
  • Short positions are0.25% lower than yesterday and 16.91% lower from last week
  • We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests AUD/USD prices may continue to fall. Traders are less net-long than yesterday but more net-long from last week. The combination of current positioning and recent changes gives us a further mixed AUD/USD trading bias from a sentiment standpoint.

image.png

 

 

 

What are your views on AUD/USD ?

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      19,526
    • Total Posts
      86,917
    • Total Members
      68,781
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    TomLeonard20
    Joined 12/08/22 14:39
  • Posts

    • KLA Corp., Elliott Wave Technical Analysis KLA Corp.,(KLAC:NASDAQ): Daily Chart, August 12, 2022,  KLACStock Market Analysis:Looking for further continuation lower into wave c) of {ii}. Wave (b) may not be finished, however I am still looking for further downside after the initial move up we had in a five wave manner. KLAC Elliott Wave count:  Wave c) of {ii}. KLACTrading Strategy: wait for the end of wave {ii} to start building long positions to target ATH. KLAC Technical Indicators:We are above all EMAs which suggests we have resumed the uptrend. We could find support off the 200 EMA. TradingLounge Analyst: Alessio Barretta       KLACorp.,KLAC: 4-hour Chart, August 12 2022,  KLA Corp., Elliott Wave Technical Analysis KLAC Stock Market Analysis: Looking for completion of wave (b) to then resume downside into wave c) which could eveb be traded on short timeframes. KLACElliott Wave count:  Wave c of (b). KLAC Technical Indicators: We are facing resistance off the 20 EMA which could be a sign wave (b) is completed or nearly completed. KLACTrading Strategy: You could either look for shorts into wave c) or/and wait for a larger swing once wave {ii} is finished and target he upside with wave {iii}.
    • Elliott Wave Analysis TradingLounge 3-Daily Chart, 12 August 2022, Monero(XMRUSD) XMRUSD Elliott Wave Technical Analysis Mode: Motive Structure: Impulse Position: Wave I Direction Next higher Degrees: Wave C of Zigzag Details: The sub-wave of the first wave is about to end. Watch out for the reverse in Wave Cancel invalid Level: Monero(XMRUSD) Trading Strategy: The entry price is entering the last wave of the first wave. And it is going up to test resistance at MA50, waiting for a reversal in the second wave to enter the trend again. Monero(XMRUSD) Indicators: MACD and MACD Histogram have a reversal signal in an uptrend. TradingLounge Analyst: Kittiampon Somboonsod Elliott Wave Analysis TradingLounge 4H Chart, 12 August 2022, Monero(XMRUSD) XMRUSD Elliott Wave Technical Analysis Mode: Motive Structure: Impulse Position: Wave ((4)) Direction Next higher Degrees: wave I of C Details: Entering the fifth wave. Watch out for the reverse Wave Cancel invalid Level: Monero(XMRUSD) Trading Strategy: The short-term rise of the fifth wave After the fourth wave The level of the end of the triangle pattern is at The end of wave D, but if the price descends below the end of wave E, it is possible that the fifth wave may end at wave B. Monero(XMRUSD) Technical Indicators: MACD and MACD Histogram continue in the same direction.
    • Hi @ArturG, I added a response on the thread you shared. Effectively, the rule apply to UK clients. You can find the relevant text here:https://www.legislation.gov.uk/eur/2014/1286/body I hope that it helps ! All the best - Arvin
×
×
  • Create New...