AUDUSD: Time to Shine

Digital Derivatives MarketsForex, Trade Alerts

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AUDUSD Technical Analysis

We have recently issued 2 trades alerts, long NZDUSD and long XAU/USD based on our technical models. As we have clarified in our 2014 Trading Opportunities, AUDUSD has been classified as a long trade based on the monthly chart. Recent lows provide a decent entry to execute long trades in the Foreign Exchange market.

Before diving into the technical end of our tactical entry into the Australian Dollar (AUD), we believe the gains will come as a result of the People’s Bank of China (PBOC) actions to boost to contracting economy. We have recently witnessed spikes in AUD and NZD pairs and crosses as the PBOC announced it will inject the top banks with Y500 billion, sending the commodity currencies higher along with gold. Recent weakness noted in today’s session across the markers were as a result of investors pricing in the probability of a slowdown when the HSBC Manufacturing Consumer Price Index (PMI) will be published in the early hours of Tuesday morning. We have experienced certain volatility in our trades performance, which is completely natural after successful months. We are sticking to our technical models as they have served as well in the past several years.

AUDUSD Weekly Chart

Please click on the chart to enlarge:

AUDUSD Technical Analysis 22 September 2014

AUDUSD Weekly Chart 22/09/14

You may read the full analysis in our 2014 Trading Opportunities.

We also have a technical entry to short GBPAUD however, we are already long NZDUSD, XAU/USD and now AUDUSD. We do not wish to overexpose ourselves to the China’s repercussions on the Forex market and believe holding the above trades is sufficient.

AUDUSD Trade Details

AUDUSD long @ market price
Take Profit: 0.9560
Protective stop: 0.8780
Estimate duration: 100 days
Risk Ratio (RR): 1 : 7 (approx.)

Updates regarding the trade will be posted on this page. Subscribe to or follow us on Twitter to be instantly notified when an update is released.

25/09/14 UPDATE: Despite being in a profit several days ago AUDUSD has retraced lower, triggering our protective stop loss order. We have recently executed a short trade in GBPAUD.

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Last Updated on August 9, 2015