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Audbulls

(Sell) GBPAUD Technical Analysis for April 19, 2018Hello Traders, If anything, I really think it is the best time to buy some AUD, earn some positive swaps and hold this for a long time. Why? Well, we can take a top down approach and consider some technical formation first from the weekly chart. First, notice that since last year GBP has been charting higher and in this pair, it is a 1000 pips away from recovering post Brexit collapse. As you saw in 2016, that GBP depreciation was vicious. At the moment though, basing our decision on technical formation we have a reason to resume selling. To begin with, there is a clear distribution and not only are sellers (AUD buyers) expanding but look at those lower lows and diversion relative to the upper BB. Fact is, GBPAUD has been moving horizontally since following that over-extension by late March 2018. Like the weekly chart, there is a stochastic sell signal turning from deep the overbought territory. That’s not all, yesterday’s bearish engulfing pattern would be a good hint of sell pressure. Indeed, because of that drop we saw prices breaking below a minor support trend line. Because of this, my recommendation is simple, sell GBP and trade GBPAUD as follows: Sell: 1.819 Stop Loss: 1.83 Take Profit: 1.79, 1.758, 1.71 and 1.66 Let me know what you think!! Have a good trading day. This TA was originally published by Dalmas Ngetich at Forex.Today
Short
by Kipyegonn
(Buy) AUDJPY Technical Analysis for April 17, 2018Hello Traders, In a nutshell, I’m net short Yen and like yesterday, I shall be actively looking for buy opportunities in AUDJPY. To begin with, we notice that this pair is generally stuck within a consolidation that began in early 2016 and continues till now. This therefore means there weren’t much meat to feed off trend traders. What’s important at the moment though is that shift of momentum and as it is, there is a stochastic buy signal and a couple of higher highs confirming buy pressure. Notice that last week was generally bullish meaning if we look for stochastic buy signal in lower time frames, we might as well turn in a profit. Potential targets if this trade plan materializes is that previous support trend line now resistance at 89 or thereabout. A level deeper and what interests me is the technical developments of AUDJPY the 1HR chart. There is nothing much going on in the 4HR chart besides the obvious bullish trend and a potential double bar bullish reversal pattern the moment this candlestick closes. In the 1HR chart, we can easily see that AUD bullish divergence pattern and that’s not all, there is a stochastic buy signal turning from deep the oversold territory complete with bullish candlestick confirming this move. Because of this, aggressive traders can consider buying AUD at 83.50-when there is a considerable break above that minor resistance trend line with stops at 83. This will be my AUDJPY trade plan: Buy Stop: 83.50 Stop Loss: 83 Take Profit: 90 Have a good trading day and of course, let me know what you think!! This Article was originally published at Forex.Today by Dalmas Ngetich
Long
by Kipyegonn
(Buy) AUDNZD Trade Plan for April 13, 2018Hello Traders, Is it safe to say the NZD party is over? It sounds nice maybe because the party is truly over if technical indicators are anything to go by. Evidently, Q1 2018 was superb for NZD and from price action, I really think it’s time to cash out. Like we have been saying, this currency pair is trending well in the oversold territory and what we need is a confirmation of bull pressure. The sure way for affirmation is a stochastic buy signal and perhaps a bullish engulfing pattern. Odds of the latter happening is slim to none but what we can be certain of is that AUD shall end the week strongly. Already that long lower wick is indicative of bull pressure and if it ends this way then I recommend buyers to look for under-valued positions next week. That’s not all though. Buyers are actually jumping in at key support trend line as the weekly chart shows. In the daily chart, price action is trading with a bullish divergence pattern. Besides, there is a stochastic buy signal and an engulfing candlestick following periods of AUD over-performance earlier in the day. Of course we can go a level deeper but that won’t make sense because there is a confluence of oversold stochastics in both time frames. Advised by this, my AUDNZD trade plan shall be as follows: Buy: 1.0545 Stops: 1.0480 Take Profit: 1.1050-This year’s highs. Let me know what you think!!! Have a nice trading day First Publish at Forex.Today under the handle--Dalmas Ngetich (Kipyegonn)
Long
by Kipyegonn
EURAUD analysis-Sell for November 02, 2017Hey guys, There is price action bear divergence pattern relative to the stochastics which are moving lower. Other than that sell signal, there is a clear double bar reversal happening at the 3rd quarter of this wedge meaning at any time there will be a break out. A break out below the 20 period MA and support trend line will be desirable for AUD bulls looking for free swap money. In the monthly chart EURAUD Technical Analysis, there looks to be a potential head and shoulder pattern with recent highs testing the neck like at 1.554. Secondly, with technical formation in the daily chart, I will look to sell tomorrow especially if there is a strong break below the 20 period MA in the daily chart. This will turn out as follows: Sell: 1.505 Stop Loss: 1.52 Take Profit: ideal below 1.41 but look for a risk reward of 1:3 As always, let me know what you think in the comment section.
Short
by Kipyegonn