AUDUSD – Testing Old Support

(Click on image for larger view) Hi Traders, Hope the new year has been treating your well. If not, let’s start by starting afresh today now. The chart above is the AUDUSD weekly chart. As shown above, the market has been on a slow but gradual fall since July 2011. The gradual fall was not…

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Weekly Commentary: 24th August 2014

Previous weekly commentary: Commentary on 17th August 2014 Hello Traders, The USD index closed around $82.40 this week, quite a surprising move for me but then again, this is a good indication of who is currently taking the lead in the market. The double high test bar proofed to me again that those who were not…

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Weekly Commentary: 3rd August 2014

Previous weekly commentary: Commentary on 27th July 2014 Hello Traders, The USD index closed the week around $81.40. More importantly, the high of the week was around $81.70 before it closed lower. Remember the $81.50 resistance that I was looking for? While there is no clear sign that the price has broken that level, it’s…

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Weekly Commentary: 27th July 2014

Previous weekly commentary: Commentary on 20th July 2014 Hello Traders, The USD closed the week around $81.10, this is definitely a new high compared to last week and this looks like a more and more convincing new up trend too. On top of that, this is a new higher high compare to high in early…

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AUDUSD – Climbing Higher?

(Click on image for larger view) Hi Traders, A quick update on the Aussie. As mentioned on the 15th June (see article), I was looking a the range market and price was testing the top of the range. As price was in a sideway market since early April, it was uncertain if price would move…

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Weekly Commentary: 15th June 2014

Previous weekly commentary: Commentary on 8th June 2014 Hello Traders, As mentioned last week, I was expecting a more interesting week but that didn’t happen as the USD index did not move much. The market often surprises us but my view remains the same – based on market psychology, the more price consolidates, the more…

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AUDUSD – Price Consolidation

  (Click on image for larger view) Hi All, Here’s a quick update of what I’m watching. As mentioned on the 25th May (see article), the AUDUSD has been consolidating in a clear range. While we know that Non-Farm is just around the corner, this consolidation did in fact start nearly 2 months now. Hence,…

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Weekly Commentary: 25th May 2014

Previous weekly commentary: Commentary on 18th May 2014 Hello Traders, This week the USD Index closed higher at around $80.40. This is inline with what I’m looking for and, as mentioned last week (see article), price needs to break and close above $80.80 as that will give me a new higher high in price action. The…

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Weekly Commentary: 4th May 2014

Previous weekly commentary: Commentary on 27th Apr 2014 Hello Traders, The USD Index started moving south at the start of the week and it made a big drop on Wednesday. Friday made some interesting development (thanks to non-farm data) as the day closed with a major high test pin bar. With that, price started to…

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AUDUSD – Where To Next?

(Click on image for larger view) Hi All, Just a quick update on this currency pair. As I’ve mentioned a few bullish patterns in the past (see article), these patterns have once again proven itself to work. The real question now is where will the Aussie go next? Looking at the weekly chart above, price…

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