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Weekly forecast Australian Dollar vs. US Dollar technical chart
Symbol AUDUSD

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.7375 to 0.7330). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

While the price is below the level 0.7485, the probability of beginning of uptrend is too weak, so we would enter the market with buy trades based on Daily-Trading-Opportunities and a day close price above 0.7485 and expect to reach short-term targets.

  • Beginning of entry zone (0.7375)
    • Support on 07/08/2015
    • Support on 07/13/2015
    • Support on 07/15/2015
    • Support on 07/16/2015
    • Support on 07/17/2015
    • Resistance on 07/31/2015
    • Resistance on 08/06/2015
    • Resistance on 08/17/2015
    • Resistance on 08/18/2015
    • Resistance on 08/19/2015
    • Resistance on 08/20/2015
    • Resistance on 10/12/2015
    • Resistance on 12/04/2015
    • Resistance on 03/03/2016
    • Resistance on 05/10/2016
    • Resistance on 05/11/2016
    • Resistance on 05/12/2016
    • Resistance on 05/17/2016
    • Resistance on 06/03/2016
    • Resistance on 06/06/2016
    • Support on 06/24/2016
    • Support on 06/29/2016
    • Support on 06/30/2016
    • Support on 11/23/2016
    • Support on 11/24/2016
    • Support on 11/30/2016
    • Support on 12/01/2016
    • Resistance on 12/16/2016
    • Resistance on 01/09/2017
    • Resistance on 01/10/2017
    • Support on 05/05/2017
    • Support on 05/08/2017
    • Support on 05/12/2017
    • Support on 06/19/2018
    • Support on 06/22/2018
    • Support on 06/26/2018
    • Support on 07/04/2018
    • Support on 07/05/2018
    • Support on 07/06/2018
    • Support on 07/13/2018
    • Support on 07/17/2018
    • Support on 07/18/2018
    • Support on 07/23/2018
    • Support on 07/24/2018
    • Support on 07/26/2018
  • Ending of entry zone (0.7330)
    • Resistance on 12/10/2015
    • Resistance on 12/31/2015
    • Support on 03/04/2016
    • Support on 05/06/2016
    • Support on 05/11/2016
    • Resistance on 05/13/2016
    • Resistance on 05/17/2016
    • Resistance on 05/18/2016
    • Support on 06/14/2016
    • Support on 06/15/2016
    • Support on 06/16/2016
    • Support on 06/24/2016
    • Support on 11/18/2016
    • Support on 11/21/2016
    • Support on 12/15/2016
    • Support on 05/09/2017
    • Support on 05/11/2017
    • Support on 06/27/2018
    • Support on 06/28/2018
    • Support on 06/29/2018
    • Support on 07/02/2018
    • Support on 07/03/2018
    • Support on 07/19/2018
    • Support on 07/20/2018

DateSat, 08/04/2018 - 22:39
Currentrange bound
Forecastbeginning of uptrend
Last weekBearish

Midterm forecast:

  • While the price is above the support 0.7310, beginning of uptrend is expected.
  • We make sure when the resistance at 0.7485 breaks.
  • If the support at 0.7310 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 0.741 on 2018-05-09 and the trough at 0.7325 on 2018-06-27, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • The RSI bounced from the support #1 at 28 and it prevented price from more losses.
  • While the RSI downtrend #2 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 0.7440 on 07/31/2018, so more losses to support(s) 0.7375, 0.7330 and minimum to Major Support (0.7310) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 48.

Take Profits:

  1. 0.7550
  2. 0.7675
  3. 0.7805
  4. 0.7895
  5. 0.7990
  6. 0.8135
Click on the level to view price action history.