reports
- Steve Lucas
AUDUSD - signals switch to bearish - for just temporary losses
​This week's signals for the AUDUSD have continued to point higher, but with shorter-term daily sentiment overstretched at a monthly bear trend the call is only a very cautious one. Sellers have in fact returned to the market on Monday, as a loss of 0.5 Big Fig has ended a sequence of higher daily lows. This is short-term negative and further weakness in Asia this morning leaves Tuesday's outlook temporarily bearish, selling on the open and at .7644, Monday's low with a stop loss at .7688, thi...
- Steve Lucas
AUDUSD - potential bearish daily Double Top points signals lower
​June's AUDUSD bounce has stalled, as expected from close to the 100 & 200 day average rates, but so far there is no sell signal which has left this week's signals cautious and neutral. However, with gains in Asia ending a small sequence of lower daily highs, Tuesday's signals turned to bullish. Contrary to these, the initial improvement attracted sellers for prices to close little changed on the day. A bearish Double Top may be forming at .7565, confirmed with a daily close below .7519. Until...
- Steve Lucas
AUDUSD - Temporarily Bullish & Buy .7462 Dip. Stop .7441
​This week's signals are just temporarily bullish for the AUDUSD and Monday's trading is so far confirming this view with sentiment posting a gain of 0.5 Big Fig on the day. Although this is positive prices are improving towards falling moving averages so the bullish outlook is becoming increasingly cautious. With this in mind we would reduce exposure to weekly longs and for Tuesday only buy modestly on the open and then at .7462, today's low in Asia with a stop loss at .7441, this week's open...
- Steve Lucas
AUDUSD - signals continue to point lower
​Thursday's signals for the AUDUSD switched to bearish and these were confirmed with a loss of over 0.5 Big Fig, the 2nd worst trading day for sentiment so far in May. This month's rally has attracted sellers for the 2nd time this week from ahead of the 50, 100 & 200 day average rates and with signals continuing to point lower the outlook for Friday is to sell on the open and then at .7455, today's opening trade in Asia with a stop loss at .7489, just above yesterday's Marabuzo line. Targets a...
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