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

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Trading suggestion:

Price is below the Trend Hunter Buy Zone (0.7200 to 0.7160).

While the price is below the level 0.7200, 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 0.7200 and expect to reach short-term targets.

  • Beginning of entry zone (0.7200)
    • Support on 05/19/2016
    • Support on 05/23/2016
    • Resistance on 05/25/2016
    • Support on 06/02/2016
    • Support on 12/22/2016
    • Trough on 08/15/2018
    • Support on 08/15/2018
  • Ending of entry zone (0.7160)
    • Support on 05/24/2016
    • Support on 05/26/2016
    • Support on 05/30/2016
    • Support on 12/23/2016
    • Support on 12/26/2016
    • Support on 12/28/2016
    • Support on 12/29/2016
    • Support on 01/02/2017
    • Support on 09/03/2018
    • Support on 09/04/2018
    • Support on 09/05/2018
    • Support on 09/06/2018

DateSun, 09/09/2018 - 19:54
Currentdowntrend
Forecastbeginning of uptrend
Last weekBearish

Midterm forecast:

  • The current trend is downtrend but the forecast is beginning of uptrend.

Technical analysis:

  • The RSI bounced from the downtrend #1 and it prevented price from more gains.
  • The RSI uptrend #2 is broken, so the probability of beginning of uptrend is decreased.
  • A peak is formed in daily chart at 0.7380 on 08/21/2018, so more losses minimum to Trend Hunter Buy Zone (0.7200 to 0.7160) 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 32.

Take Profits:

  1. 0.7320
  2. 0.7375
  3. 0.7485
  4. 0.7655
  5. 0.7770
  6. 0.7895
  7. 0.7990
  8. 0.8135
Click on the level to view price action history.