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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 (0.7005 to 0.6970). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (0.7005)
    • Resistance on 01/03/2019
    • Support on 03/07/2019
    • Support on 03/08/2019
    • Support on 04/24/2019
    • Support on 04/25/2019
    • Support on 04/26/2019
    • Support on 05/01/2019
  • Ending of entry zone (0.6970)
    • Support on 09/10/2015
    • Support on 09/24/2015
    • Support on 09/25/2015
    • Support on 09/28/2015
    • Support on 09/29/2015
    • Support on 01/07/2016
    • Support on 01/12/2016
    • Support on 02/09/2016
    • Support on 01/03/2019

DateMay 4, 2019 - 17:56
Currentrange bound
Forecastbeginning of uptrend
Last weekBearish

Midterm forecast:

  • While the price is above the support 0.6940, beginning of uptrend is expected.
  • We make sure when the resistance at 0.7200 breaks.
  • If the support at 0.6940 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The RSI bounced from the support #1 at 34 and it prevented price from more losses.
  • While the RSI resistance #2 at 59 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 0.7070 on 04/30/2019, so more losses to support(s) 0.7005, 0.6970 and minimum to Major Support (0.6940) 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 40.

Take Profits:

  1. 0.7070
  2. 0.7115
  3. 0.7200
  4. 0.7320
  5. 0.7445
  6. 0.7575
  7. 0.7675
  8. 0.7805
  9. 0.8135
Click on the level to view price action history.