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Audbuys

(Sell) EURAUD Technical Analysis for April 27, 2018Hello Traders, From Q1 2018, the Euro has been on a run. And yes, a nice steep run where buy holders are turning in a nice profit. There have been bumps along the way and that is normal. However, the thing is, stochastics are in the overbought territory and prices are likely to correct. Going forward, I shall recommend shorts in lower time frames because as it is, sell pressure is building up following periods of bearish divergence. In the weekly chart, it’s clear that this week’s candlestick has a long upper wick meaning sellers are stepping up. This is what we were expecting now that we have these lower lows relative to the upper BB and a stochastic sell signal in place. In the 4HR chart it’s obvious that sellers are in charge. In the course of the week we have seen these two humongous bear candlesticks that neutralizes bull pressure. This is on top of the stochastic sell signal with diverging %k and %d that is in place. My EURAUD trade plan is as follows: Sell: 1.6030 Stop Loss: 1.6100 Take Profit: 1.56, 1.51 Let me know what you think. Have nice trading day This TA was first published by Dalmas Ngetich at Forex.Today
Short
by Kipyegonn
(Sell) EURAUD Technical Analysis for April 20, 2018Hello Traders, Whenever there is synchrony, chances of making money is often high. At the moment, we are seeing this synchrony. There is a confluence of technical formations in different time frames and that is why I think selling the Euro can be a good strategy. This is why I think this is right. First, as we are taking a top-down approach with the weekly chart defining trend, we notice that prices are actually losing their initial bullish steam. The stochastics gives a better hint of this and as you can see, they are turning from deep the overbought position with a sell signal already in place. Secondly, candlestick characteristics hint of a possibility of lower lows. By late March 2018, we had an inverted hammer with clear price depreciation relative to the upper BB and the following weeks we saw a follow through of this bear trend. Besides, there was a bearish divergence pattern accompanying this AUD price gain. It’s only this week where buyers are rejecting lower prices and have been pushing prices higher as this week’s candlestick shows. In our entry chart, notice those long upper wicks in the past 3-4 candlesticks. All these point to strong sell pressure. Cementing this is the stochastic sell signal turning from deep the overbought territory just like in the weekly chart. I recommend sells at current prices with stops above this week’s highs. Because of this, my EURAUD trade plan will be as follows: Sell: 1.5985 Stop Loss: 1.6030 Take Profit: 1.56, 1.52 Have a good trading day and let me know what you think!!! Originally published at Forex.Today by Dalmas Ngetich
Short
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