AUDUSD: COMPLETED TRIANGULAR CYCLE, HIDDEN DIVERGENCE REGULAR DIVERGENCE SHOULD INTEREST BUYERS

AUDUSD looks set to continue its bullish push as price gave off a Pin Bar after facing rejection from the 50EMA dynamic resistance. This situation was preceded by the hidden divergence, a completed triangular cycle and a regular divergence. All these point to more bullish movement. If price sustains the break of the descending trend-line, price would aim to reach the 0.9400 area.


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Markets Price Action and Formations: THE WEEK AHEAD JAN 6 - 10, 2014. AUDUSD CADCHF EURUSD GBPCHF GBPUSD

AUDUSD has given off a double bottom after price fell to its critical Support zone. This zone looks like interesting buyers into action however care must be taken in making bullish entries. Intraday time frames would be key in making these counter trend bullish entries.

CADCHF outlook remains bearish until its key resistance is broken though we may see some corrective bullishness in the coming week or weeks until about the marked key resistance zone above.

EURUSD outlook also remains bullish as price looks to continue to bounce off the lower trend-line as shown above. At the moment though, corrective sell off entries could still be sort as price aims towards its support zone.

The trade room made a huge catch on pips on the GBPCHF just before the close of the year after price bounced off a rising trendline. Outlook remains bullish though new entries on intra-day time frames could still be sort.

GBPUSD remains bullish and the Trade Room continues to look for good setups to long this pair. Price is currently within support zone and the daily or 4hr time frames may offer reasonable entry setups.


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Markets Price Action, The week ahead. AUDJPY AUDUSD CADCHF GBPAUD GBPCHF GBPUSD NZDCAD NZDCHF

AUDJPY chart above shows us a likely continuation of the bullish trend that emered after price hit a double bottom at about 5 and 27th August 2013. Its always safer to go with the major trend. If we get a reasonable setup on this pair in the coming week, we would buy into the pair. The pair currently trades just above a Support.

 AUDUSD has given off a bearish break changing our bias on the pair. We had expected the pair to bull from the Previous support but it has failed to push the pair significantly higher. A corrective bullish pullback is expected still before any new bearish entries can be made.

 CADCHF is clearly a bearish market with new entries made each time it swings. The current move on this pair could yet break the recent lows.

 GBPAUD has failed to resume a new bearish trend as had been expected. But good enough, there was no Trade setup to warrant any bearish entry and with break of the previous high, the bullish trend resumes. but like before, we still shall wait for price to sell corrective into our mapped support zones.

 GBPCHF has closed with a fakey Price action trade Setup after the initial rejection of the higher prices at its key resistance zone. The trade made new bearish entries on this setup and we look to the pair falling into the first mapped support zone. New bullish entries could also be made at those points.

 GBPUSD looks to be trapped within a horizontal consolidation. sell entries will be made as it faces rejection at the resistance zone while buy entries made at the support.

 NZDCAD also looks to be trapped withing a horizontal consolidation. A buy entry could be taken if the dynamics are right.

NZDCHF is very close to the Trade Room's take profit, which also is the support zone for the bullish break. We could take a buy entry if the price action is right.

The week ahead: Nov 18 - 22, 2013. AUDUSD, EURJPY, EURCAD, GBPAUD, GBPUSD, NZDJPY, NZDUSD.

AUDUSD as seen above is consolidating at about the support Zone we had mentioned at our last review. The expectation is for bulls to get in on this pair and push it higher from this zone. The trade room made an entry just before the close of the previous week and we expect the bulls to take control from here.

EURJPY as seen above has hit our projected TP Zone. The trade room made over 300pips from our entry. We now wait to see the reaction of the pair at this resistance zone.

EURCAD had triggered our buy entry as price fell within the support zone where bulls were expected to get back into the bullish ride, however, it did manage to pierce that zone-an indication that the bears were viciously selling off. The trade room did make a bullish entry but profits have been protected early since the pair also gave off a sell signal at the last recent resistance Zone. From this point, we are safe to hold onto the trade and hope price manages to push through this resistance. If it fails to and resumes bearish instead, The long tailed support should hold it for another round of bullish entries. Therefore we may be in for some Din Dong on this pair yet.

GBPAUD just above has been pushing long since the last time its review was made. We had pointed out that the trend had changed to bear but that a corrective buy-off was to be expected. Two zones were mapped out as possible reversal Zones and it has thus far broken through the first zone. If it sustains this break, It will most likely begin its sell off from the next resistance zone as indicated in the chart above. A price action sell signal at that zone should send prices down to the expected TP zone as indicated on the chart above.

GBPUSD has been consolidating within the Key resistance and Support Zone as indicated in its chart above. Its now moving bullishly towards its Key Resistance Zone. Pending Price Action, New bearish entries would be made at that zone. It may interest traders to know that the pair now carries a bearish bias following a failed break of the Support Zone.

 NZDJPY: The last review we ran on the pair showed that we held a bullish bias on the pair and also made a bullish entry on it based on the over-all bias. The pair had given off a bullish Trade Signal as it delved into its Key Support Zone, setting off a Pin Bar Trade Setup. This was more like a bread and butter setup and was subsequently taken gleefully. As the pair now trades within its Resistance Zone, We wait to see what Price action Signal it gives off at this zone.

The NZDUSD chart tells an interesting story. The pair had made a failed attempt to continue its bullish trend from the area now marked as Key resistance. This changes the bias on this pair to bearish, and though the new move is bullish, it merely is a corrective bullish move. We are bullish on this pair but our TP is at the Key resistance zone and we would quickly make new bearish entries if we get a clear sell signal.


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The Week ahead Nov. 10 - Nov 15 2013. AUDUSD, CADCHF, EURCAD, EURJPY, EURNZD

AUDUSD daily chart above shows that price has fallen within the pairs critical Support Zone. Bulls are expected to get into the market pending Price Action bullish setups. If we get a failed break on this pair as it attempts to continue in its more dominant bullish trend, our target on the potential move long will be cut significantly.

 CADCHF gave off a bearish Pin Bar Trade Setup at the close of trading on Friday as price bulled correctively into its resistance zone. The bears should snap on the opportunity to make new bearish entries. A close above this zone would change our bias on this pair.

 In the previous commentary on this pair, I mentioned that the pair was expected to resume its bullishness at about this zone. The Pin Bar Trade Setup from Thursday's close, signals a trigger for the continuation of the previous bullish trend, since we only see the bearish move as a mere corrective sell-off.

 The EURJPY and CHFJPY act basically in the same way, and I had pointed out that the bulls were expected to get in on them as price falls into the demand zone. The Trade room made a quick entry on the bullish side and with the daily time frame also giving off an inside Bar Trade Setup, Its likely that price would resume north from this setup.

We had a failed break of a Support Zone on the EURNZD on Thursday, 7th Nov. The failed break should send prices higher in a corrective bullish move.


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AUDUSD PRICE ACTION: Pin Bar/Inside Bar Combo Trade Setup Update

My Trade Commentary on the Aussie on 3rd September drew our attention to the Pin bar/Inside Bar Combo bullish setup on the pair. The Trade Room had gone Long based on the 4 hour breakout with our TP at the 0.9100 level which has been broken, leaving room for the pair possibly hitting the 0.9200 level.

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AUDUSD PRICE ACTION: Pin Bar/Inside Bar Combo off Psychological support pulls higher.

We had a valid bullish setup on the Aussie after a Pin Bar Price Action Trade Setup was followed by an inside bar before the close of trading last week and with today's price moving slightly higher, it resulted in a bullish breakout on the 4 hour time frame validating the combo setup. Despite the fact that the major trend is yet bearish, price is expected to at-least make a dash towards Psychological resistance at about 0.9100 from where it is expected that the bears would get back in on the pair. But if it breaks instead, that would leave the door open for 0.9200.

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AUDUSD PRICE ACTION: Closing Price Reversal Trade Setup. August 13, 2013

 

The Aussie raced high and quite quickly all through the previous week after a Pin bar price Action Trade Setup. It however met a brick wall as traders bought deep into its supply zone. A closing Price Reversal Trade Setup, ensured, after price made a failed attempt to break through the 0.9200 Psychological level to the upside. Subsequently, the pair is gradually losing it bullish strength. However, it still has reasonable potential at resuming it bullishness from about the 0.9000 level. 

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AUDUSD Price Action: . Inside Bar Trade Setup Breaks North, July 17, 2013

 

 The Aussie seem to have found support after price broke out north from the Inside Bar Trade Setup at Key Support Zone. It is expected therefore that the bulls would kick in fully and attempt to push price higher into the next Key Supply Zone at about 0.9560. However, if this setup fails, price would make a quick dash back into the Key Support Zone and possibly lower.

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AUDUSD Weekly Price Action: Pin Bar off Resistance against market Open July 07, 2013

 

The Aussie had yet another bearish week after a failed attempted to go bullish, price was quickly rejected at about its Resistance on Friday, leadin to the formation of a Pin Bar off that resistance on the weekly chart of the pair. The trend and bias on this pair therfore, remains bearish, as prices are expected to aim towards the next demand zone at about 0.8470.

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AUDUSD Price Action: Counter Trend Fakey Setup: June 26, 2013

 

The Aussie seem to have hit a significant support and as a result aims to take a breather from the very dominant bearish trend. The Fakey Setup on the daily time-frame at-least signals for sellers to step out and wait for another entry, possibly as the market rotates back into resistance. Though this is a counter trend setup, it looks good enough to interest buyers.

AUDUSD Price Action: Break of Support, June 19, 2013

 

 AUDUSD was faced with massive selloff following the bullish tone of the FOMC statement. The intensity of the move saw it break through support easily, which should open the doors for further bearishness. A minor rotation back into new resistance could ensure from where intra day sell bearish setups should be sort.

AUDUSD Price Action: Closing Price Reversal Trade Setup. Against Market Open June 16, 2013

 

 The Aussie has a very similar setup to the Kiwi, ending the day with a Closing Price Reversal Trade Setup but not without picking the Trade Rooms Sell Limit order at 0.9636, a clear 68pips above the current price. The entry was quite precise and the Trade room projects a take profit of about 140pips, about 70pips lower from its current price. The pair also seems like shaking off it very recent bearish tone, therefore the support zone as indicated above should interest buyers.

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AUDUSD Price Action: Hits Key Support. Against Market Open, June 2, 2013.

 

On Wednesday we had a counter trend Pin Bar on the Aussie which is yet to pull off Significantly. Though the trend is bearish, there are indications that this trend is coming to an end as Price has approached a key Weekly Support. However, Price Action Sell entries would be sort on rotation back into Resistance as shown above.

My Recommendation: Close all previous sell entries.

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AUDUSD Price Action: Pin Bar (Closing Price Reversal) Trade Setup. May 27, 2013.

 

 AUDUSD closed just above Support at the close of trading today and since we already had a Previous Pin Bar (Closing Price Reversal)  Price Action Setup, price is expected to rotate higher into resistance Zone at about 0.9755. 

My Recommendation: buy pair, with stops below current Pin Bar

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AUDUSD Price Action: Closing Price Reversal. May 15, 2013.

 

The Aussie and Kiwi move in very similar ways but with respect to their recent trends, the Aussie has been way more bearish than the Kiwi and like the Kiwi, it also has formed a bullish Closing Price Reversal Price Action Setup. Expectations are for price to move towards the Key horizontal resistance level or the dynamic resistances from where Bearish Price Action Setups will be sort.

My Recommendation: Sit out this scenario.

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AUDUSD Price Action: Break of weekly Key Support. May 12 - May 17, 2013.

 

The AUSSIE broke through Key Weekly Support at the close of trading last week. This could leave the doors open for an approach to the weekly Support around 0.9720. Daily Price Action Setup would be anticipated at about the key weekly resistance to  trigger this sell-off.

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AUDUSD Price Action: Inside Bar Price Action Setup. May 8, 2013.

 The Aussie closed the day with an inside bar price Action Trade Setup just above Support. The trend is strongly bearish however, we could have rotations back into resistance where we could possibly find bearish Price Action Setups to join the more dominant bearish trend.

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AUDUSD Price Action:Pin Bar Price Action Setup, 27/04/2013

  

The Aussie closed Friday with a clear bearish pin bar price action sell setup as price failed to stay buoyant as it approached the dynamic resistances. Twice in two days, the dynamic resistances acted as a catalyst for sell triggers and with a close now, below the minor support, the road seems clear for more bears in the coming week.

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AUDUSD Price Action:Pin Bar Price Action Setup, 25/04/2013

 

The Dynamic resistance managed to prevent the Aussie from getting past it, significantly initiating a sell-off as the pair hit it, however, I consider this setup a low quality price Action setup, since the rejection didnt coincide with the horizontal resistance. I will sit out this Setup.

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