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Weekly forecast Australian Dollar / US Dollar technical chart
Symbol AUDUSD

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.7150 to 0.7085). 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 0.7245, 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 0.7245 and expect to reach short-term targets.

  • Beginning of entry zone (0.7150)
    • Support on 05/24/2016
    • Support on 05/30/2016
    • Support on 09/04/2018
    • Support on 09/05/2018
    • Support on 09/14/2018
    • Support on 09/17/2018
    • Support on 09/18/2018
    • Resistance on 10/15/2018
    • Resistance on 10/16/2018
    • Resistance on 10/17/2018
    • Resistance on 10/18/2018
    • Resistance on 10/19/2018
  • Ending of entry zone (0.7085)
    • Trough on 09/11/2018
    • Support on 09/11/2018
    • Support on 10/19/2018
    • Resistance on 10/24/2018
    • Resistance on 10/25/2018

DateDecember 15, 2018 - 18:18
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.68250, beginning of uptrend is expected.
  • We make sure when the resistance at 0.72450 breaks.
  • If the support at 0.68250 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The RSI uptrend #1 is broken, so the probability of beginning of uptrend is decreased.
  • A peak is formed in daily chart at 0.7395 on 12/03/2018, so more losses to support(s) 0.7150, 0.7105, 0.7085 and minimum to Major Support (0.6825) 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 43.

Take Profits:

  1. 0.7300
  2. 0.7370
  3. 0.7445
  4. 0.7575
  5. 0.7655
  6. 0.7805
  7. 0.8135
Click on the level to view price action history.