AUDUSD – More Resistance Ahead

(Click on image for larger view) Hi All, Just a quick update on the Aussie dollar. In my last commentary (see article), I was looking for more price confirmation before it moved higher.  While it followed my plan, I have no celebrations just yet as I see more Resistance if price move higher. In fact,…

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AUDUSD – Price Action Needs More Conviction

(Click on image for larger view) Hi All, Just a quick update on the AUDUSD. Following my article on the 10th Sept (see article), I have been following the pair closely. Price broke above the resistance level ~0.923 (as mentioned previously) and it came down to test it. At the moment, it looks like its…

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AUDUSD – Is Price Ready To Turn?

(Click on image for larger view) Hi All, Just a quick update on AUDUSD. My last attempt searching for a bottom was on 9th July (see article) but Price Action did not meet my rules. This time, price is showing me a potential reversal again. Looking at the chart above, AUDUSD gave me the first…

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AUDUSD – A Double Bottom That Caught My Eye

(Click on image for larger view) Hi All, Just a quick update on the Aussie. I was flipping through my charts and the AUDUSD caught my eye. The daily chart looks somewhat choppy but when zoomed into the 4 hour, I got an interesting picture. Based on the chart above, the AUDUSD just broke above…

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Weekly Commentary: 16th June 2013

Previous weekly commentary: Commentary on 9th June 2013 Hi Readers, USD Index continued its journey south with strong conviction, showings signs that the bears are back. The week closed at 80.80, breaking the support level around $81.40 (mentioned last week). Looking at price right now, my bias is short but I’m also aware that price might…

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AUDUSD & NZDUSD Meet Major Supports

(Click on image for larger view) Hi All, This is just a quick update on the AUDUSD and NZDUSD. As shown above, the Aussie is currently testing a major support level around 0.94. The last time price tested this support was in Oct 2011. Let’s see if it still holds. (Click on image for larger…

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Weekly Commentary: 26th May 2013

Previous weekly commentary: Commentary on 19th May 2013 Hi Readers, As mentioned last week, the USD index is testing the high from July 2012. So far, price has stalled around the level with some very vague price action showing a potential reversal. In fact, they are too vague for me to even discuss it here. Patience…

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AUDUSD – Aussie Faces Major Support

(Click in image for larger view) Hi All, Just a quick update on the AUDUSD pair. Looking at the weekly chart, the pair is currently faced with a major obstacle – support level around 0.962. Price have been very bearish recently while the USD has been very bullish at the same time. My bias is…

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AUDUSD – Price Showing No Winners Yet

(Click on image for larger view) Hi All, Just a quick update on the AUDUSD pair. Looking at the daily chart above, price seems to have been chopping side ways for awhile now. The support level of 1.02, which I highlighted in my video (see video), has been working hard to defend itself. (Click on…

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Trading The Aussie Using Naked Charts

Hi All, This is a quick video of how I would trade the AUDUSD using naked charts. Enjoy! Ps. Still working on making the video smoother, not flowing as smoothly as I want it to be.  

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