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Aussie breaks below 38.2% retracement

al_dcdemo Postado 15 Nov  em #Trader's blog #AUD/USD #Fibonacci Retracement #Support Area #Big Figure #D1 Chart #Wage Price Index
AUD/USD fell 50 pips overnight, after the release of weaker than expected Wage Price Index. 38.2% retracement of the 2016 - 2017 upswing now looks properly broken. 0.75 - 0.755 area is the next major support. It includes 2016 - 2017 trendline, the big figure, and is backed by 50.0% retracement.
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EUR/USD bottom? Not just yet.

al_dcdemo Postado 28 Fev como análise EUR/USD, Alvo: 1.0977, Data: 1 de abril, 12:00 GMT  em #Technical analysis #Euro #Consolidation #EUR/USD #Fibonacci Retracement #Momentum #Divergence #Bearish Technicals #Yearly Lows #Technical Downtrend
Monthly chart:
After it closed the year 2014 below 200 month SMA, the pair continued its journey to the South with increased momentum. Big support levels (1.20 level, then 2012, 2010 and 2005 lows) fell like dominoes. 61.8% retracement of the 2000 to 2008 uptrend was violated in January, but the pair managed to retrace back above it. The pair then held above the level until the last two trading days of February when it broke lower and closed the month below the level. The September 2003 low at 1…
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4 Comentários
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al_dcdemo 7 Mar

UPDATE 1: After some consolidation in the beginning of the week, the pair broke lower on Wednesday and closed the day on new eleven-year lows. On Thursday, during ECB press conference, it briefly traded back above 1.1098, but it reversed and proceeded to break 1.10. Then on Friday, before and after another strong US jobs report, it lost additional two cents, netting nearly 350 pips loss on the week. Support is now seen near 2003 low at 1.0760 and then at the monthly channel line (off lows of years 2008 and 2010, not shown on the charts) closer to 1.05.

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al_dcdemo 15 Mar

UPDATE 2: In another devastating week, the pair has lost additional three and a half cents. After a shallow pullback on Monday, it was one-way street lower, breaking September 2003 low, monthly channel line (drawn off lows of years 2008 and 2010) and 1.05 level, in the process. There was slight relief on Thursday, but it was quickly sold into and new lows followed on Friday with the pair closing below 1.05. There's not a lot of support now until 76.4% retracement (of the 2000 to 2008 uptrend) and parity.

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al_dcdemo 21 Mar

UPDATE 3: The pair was gaining since the beginning of the week, but the most volatile part came on Wednesday during and after FOMC meeting, when it surged more than 400 pips from pre-release levels. The pair gave it all back next day, but then picked up where it left off and continued to rally on Friday and closed above September 2013 low (1.0760). The pair has almost completely reversed last week's losses and at one point traded more than 100 pips above that week's high. First stronger resistance now comes near January 19 low (1.1097).

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al_dcdemo 28 Mar

UPDATE 4: Following a cent deep retracement early on Monday, the pair continued last Friday's rally and was poised to break above post-FOMC high on Tuesday, but solid US inflation report was enough to stall it. After some sideways action, the pair broke post-FOMC high (1.1035) and spent some moments above 1.1050 level, but was rejected and it traded back lower, testing 1.08 on Friday before returning back to 1.09 pivot. The direction is unclear at the moment, 1.0750 - 1.1050 is the range.

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