• Home
  • Contact
  • Privacy Policy
  • Store
my forex coaching
  • For Beginners
  • Strategies
  • Crypto
  • Technical Analysis
  • Stock Trading
  • Product Reviews
  • News
  • Videos
No Result
View All Result
  • For Beginners
  • Strategies
  • Crypto
  • Technical Analysis
  • Stock Trading
  • Product Reviews
  • News
  • Videos
No Result
View All Result
my forex coaching
No Result
View All Result
Home Alerts

Australian Dollar Price Action Setups: AUD/USD, AUD/JPY, GBP/AUD, AUD/NZD

Forex Tips by Forex Tips
February 1, 2023
in Alerts
0
Australian Dollar Price Action Setups: AUD/USD, AUD/JPY, GBP/AUD, AUD/NZD
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter


Australian Dollar, AUD/USD, AUD/JPY, GBP/AUD, AUD/NZD – Price Action Setups:

Recommended by Daniel Dubrovsky

Get Your Free AUD Forecast

AUD/USD Daily Chart – Rising Wedge Eyed

The Australian Dollar remains pointed higher against the US Dollar with prices continuing to trade within a bearish Rising Wedge. Over the past 24 hours, AUD/USD was unable to hold a drop through the 0.7009 inflection point, leaving behind a fairly long lower wick. This is placing the focus on the August 2022 high at 0.7137. A breakout above this price could open the door to uptrend resumption. Otherwise, another attempt to clear 0.7009 places the focus on the rising floor of the wedge.

AUD/USD Daily Chart – Rising Wedge Eyed

Chart Created in TradingView

AUD/JPY Daily Chart – 100-Day SMA in Focus

The Australian Dollar has been struggling to hold a bullish breakout against the Japanese Yen. Earlier in January, AUD/JPY confirmed a push above the falling trendline from September. That opened the door to reversing the downtrend seen towards the latter half of 2022. Now, the 100-day Simple Moving Average (SMA) is holding as resistance, maintaining the downside focus. Clearing support, which is the 38.2% Fibonacci retracement level at 91.485, exposes lows from December. Otherwise, climbing above the SMA exposes the October high at 95.741.

AUD/JPY Daily Chart – 100-Day SMA in Focus

Chart Created in TradingView

GBP/AUD Daily Chart – Head & Shoulders?

The Australian Dollar appears to be setting the stage for gains against the British Pound. GBP/AUD seems to have been carving out a bearish Head & Shoulders chart formation since September. Prices are attempting to clear the neckline around 1.7487. Confirming a breakout lower could open the door to extending losses toward the 61.8% Fibonacci retracement level at 1.682. Otherwise, the right shoulder of the chart pattern could play out as key resistance around 1.8.

Recommended by Daniel Dubrovsky

Get Your Free USD Forecast

GBP/AUD Daily Chart – Head & Shoulders?

Chart Created in TradingView

AUD/NZD Daily Chart – Eyes on Rising Edge

The Australian Dollar may continue trading higher against the New Zealand Dollar. That is because AUD/NZD is trading within the boundaries of a Rising Wedge chart pattern. While the formation itself can carry bearish implications, that comes into play if prices confirm a breakout under the wedge. Such an outcome opens the door to resuming the dominant downtrend from the end of last year. Clearing immediate resistance at 1.0979 exposes the 61.8% Fibonacci retracement level at 1.11.

AUD/NZD Daily Chart – Eyes on Rising Edge

Chart Created in TradingView

— Written by Daniel Dubrovsky, Strategist for DailyFX.com

To contact Daniel, use the comments section below or@ddubrovskyFXon Twitter





Source link

Share76Tweet47

Related Posts

DAX 40, FTSE 100 May Stabilize Further as Retail Traders Boost Bearish Exposure

DAX 40, FTSE 100 May Stabilize Further as Retail Traders Boost Bearish Exposure

by Forex Tips
March 28, 2023
0

DAX 40, FTSE 100, Retail Trader Positioning, Technical Analysis – IGCS Equities UpdateDAX 40 and FTSE 100 have been...

Euro Technical Outlook – Trends and Ranges Intact for Now. Where to for EUR/USD?

Euro Technical Outlook – Trends and Ranges Intact for Now. Where to for EUR/USD?

by Forex Tips
March 27, 2023
0

Euro, EUR/USD, US Dollar, Trend, Momentum, Bollinger Bands - Talking pointsEUR/USD enduring trend survived a downside test but might...

Our data shows traders are now net-short US 500 for the first time since Mar 07, 2023 when US 500 traded near 3,988.19.

Our data shows traders are now net-short US 500 for the first time since Mar 07, 2023 when US 500 traded near 3,988.19.

by Forex Tips
March 21, 2023
0

Number of traders net-short has increased by 7.42% from last week.SYMBOLTRADING BIASNET-LONG%NET-SHORT%CHANGE IN LONGSCHANGE IN SHORTSCHANGE IN OIUS 500BULLISH49.54%50.46%-7.49%...

Our data shows traders are now net-short Gold for the first time since Feb 02, 2023 when Gold traded near 1,914.89.

Our data shows traders are now net-short Gold for the first time since Feb 02, 2023 when Gold traded near 1,914.89.

by Forex Tips
March 20, 2023
0

Number of traders net-short has increased by 69.93% from last week.SYMBOLTRADING BIASNET-LONG%NET-SHORT%CHANGE IN LONGSCHANGE IN SHORTSCHANGE IN OIGoldBULLISH49.97%50.03%-0.13% Daily-23.80%...

Our data shows traders are now net-long France 40 for the first time since Oct 24, 2022 when France 40 traded near 6,157.20.

Our data shows traders are now net-long France 40 for the first time since Oct 24, 2022 when France 40 traded near 6,157.20.

by Forex Tips
March 15, 2023
0

Number of traders net-short has decreased by 48.18% from last week.SYMBOLTRADING BIASNET-LONG%NET-SHORT%CHANGE IN LONGSCHANGE IN SHORTSCHANGE IN OIFrance 40BEARISH51.12%48.88%59.91%...

Load More

Recent Posts

  • EUR/USD Doesn’t Look Ripe for a Break Above 1.10 Ahead of H.8 Data
  • How to Determine Forex Entry Point With Confirmation
  • DAX 40, FTSE 100 May Stabilize Further as Retail Traders Boost Bearish Exposure
  • Gold Could Find It Tough to Crack $2000
  • Downside Momentum Fading with Falling Wedge in Focus
Forex Pulse Detector

Categories

  • Alerts
  • Crypto Strategies
  • Currency
  • For Beginners
  • Forex News
  • Forex Trading Tips & Strategies
  • Technical Analysis
  • Videos

Newsletter

  • Home
  • Contact
  • Privacy Policy
  • Store

© 2018 Forex Blog

No Result
View All Result
  • Contact Us
  • Homepages

© 2018 Forex Blog.