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After a strong run from Australia for last 3 weeks, it got consolidated last week and ends with couple of strong red candles. Looking at the strength of the bearish candle, this selling pressure might flew for some another 1 or 2 days before the bullish candle forms. Hence it may be wise to wait for for the bullish engulfing or bullish doji candle to enter on buy and look for some profit. This is because that the Aussie dollar looks more strong and steady off late and hence it's better to not co…
ijayakumar's Blog
AUDCHF and AUDCAD to watch out for Aussie short selling
At last Aussie dollar may have seemed to find the oversold area. But we are not sure it may continue, although today we find some fightback from other currency like CAD and CHF. I would like to analyze AUDCAD, but it is already passed the order placing area but still nice pair to short it at the moment. About AUDCHF, it nicely sets for the short term pullback if the bullish run coninues or else if the bearish run gets stealthy, we may see a reversal. But reversal scenario is highly unlikely, unl…
AUDCHF downtrend may extend further
Aussie had great bullish run over Canada for last 2 months till end of year 2015. But once 2016 started and Chinese Manufacturing PMI results released, the same old Chinese stock collapse started to shake the whole currency trading. Obviously it will resume the risk off aversion considering more weakness over commodity currency like Australia. In that aspect, please find the chart analysis of AUDCHF as follows,
Monthly chart:
- This pair is in such a steep downtrend and weakness arrives just wh…
Monthly chart:
- This pair is in such a steep downtrend and weakness arrives just wh…
AUDCHF in a swift move and expected to continue
AUDCHF is on a rampage since the Australian employment data fueled by Swiss franc weakness over Euro cutting down its deposit rate. Along with fundamental, please find the technical analysis of this pair as below,
Monthly chart:
- This pair has jumped out of the double bottom swiftly and no pullback has happened and no major weakness seen so far
- Before the pullback, two consecutive center doji explaining the change in direction of the trend and it has been a strong reverse trend since then an…
Monthly chart:
- This pair has jumped out of the double bottom swiftly and no pullback has happened and no major weakness seen so far
- Before the pullback, two consecutive center doji explaining the change in direction of the trend and it has been a strong reverse trend since then an…
AUDCHF on rampage and it may continue for longer time
I have luckily set long on this pair which helped me to recover from my big losses. When I tried to analyze this pair on longer timeframe which is Monthly chart, it seems more bullish run is yet to come. Please find below the chart,
Current price just falling under the same previous bottom in 2009 and 2001. This year it went even lower but double side doji suggests the change in direction and then the bullish channel. As the price action just touched the previous price action, I expect this pai…
Current price just falling under the same previous bottom in 2009 and 2001. This year it went even lower but double side doji suggests the change in direction and then the bullish channel. As the price action just touched the previous price action, I expect this pai…