AUD/USD on Friday trading session was in unfavorable condition, as the pressure from the side of the bears was really significant. The currency pair was declining during the trading day permanently, steadily and inevitably! As if there were no bulls on the market at all! Which resulted in such deep falling of the instrument. If we conclude, it will be understandable, that the pair fell by 102 points. The volatility equaled 123 pips. Open/Close-0.8964/0.8862. High/Low-0.8977/0.8854.
The short-term outlook for the moment is downfalling. This is signaled by the location and direction of the indicator lines FTLM_STLM, as well as the direction of the lines FATL, FTLM and the mid-line RBCI, which have started to fall at the moment. The channels on the indicator RBCI diverged which denotes the increase of volatility. The mid-line of the RBCI at present is entering the declining channel which makes impossible to enter the market short, as the price can recoil any moment.
Conclusion: Currently, it will be better to look for the entries with short positions, but only after the bullish correction of the pair.
Recommendations: It is better to buy above 0.8805, and sell below 0.8690. (these recommendations are my personal point of view and they do not determine the actions, for the trader’s behavior in correspondence to this advice the analytical expert bares no responsibility).
Support and Resistance are in the frames of the channel and the trend lines.
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In the mid-term prospect the indicators are signalling the sliding trend which at the moment is present. This is indicated by the direction of the major lines SATL and STLM. As well as the direction of the remaining lines signal about a possible descending of the pair. The channels of the indicator RBCI have started to diverge which demonstrates the growth of volatility on the market.
Conclusion: At the moment it is better to sell after the price hits the nearest support level.
Recommendations: It is good to buy above 0.8805, and to sell below 0.8690.
(these recommendations are my personal point of view and they do not determine the actions, for the trader’s behavior in correspondence to this advice the analytical expert bares no responsibility).
Support and Resistance are placed in the limits of the last three days’ extremums and the trend lines.
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In the long-term prospect the indicators are signaling about a falling trend. This is confirmed by the direction of the lines SATL and STLM, which are the major leading lines of the indicator. And also by FATL, FTLM and the midline RBCI are showing the possible continuation of the bearish advance of the instrument. The channels on the indicator RBCI at the moment are still converged which denotes a low volatility. It is important to mention that there is a vivid candlestick figure of a rebound «dark cloud cover » on the chart, which results in descending of the instrument. And the decline is so strong that the instrument has easily approached the support level which can become a key factor either of a falling continuation or of the pair pull back.
Conclusion: At the moment it is desirable to wait until the price breaks through important levels.
Recommendations: It is better to buy above 0.8805, and to sell below 0.8690.
(these recommendations are my personal point of view and they do not determine the actions, for the trader’s behavior in correspondence to this advice the analytical expert bares no responsibility).
Support and Resistance are in the framework of the trend lines and the percent Fibo levels, as well as the extremums of the last three weeks.
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