Steve Miley is - The Market Chartist

Financial Market Technical Chart Blogs from Steve Miley - The Market Chartist

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Tags
    Tags Displays a list of tags that have been used in the blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Team Blogs
    Team Blogs Find your favorite team blogs here.
  • Login
    Login Login form

AUDUSD bear pressures re-energizing

Posted by on in FX Chart Updates
  • Font size: Larger Smaller
  • Hits: 1010
  • 0 Comments
  • Print
AUDUSD bear pressures re-energizing

This report published Sunday evening, ahead of the Chinese trade data and AUDUSD breakdown.

A stall Thursday at the top of a wedge/ channel formation and at retrace/ chart barriers in the .7735/44 area and a move lower, as we had expected, having having stated in our last report "we see bias for a downside reversal below wedge/ trend line support to resurrect the bear theme".

The push through this support has reinforced bearish pressures from the Weekly Gravestone Doji from late March whilst below the 61.8% retrace at .7785 and .7800/10 pivot area. 

For Today:

We see a downside bias for trend line support (.7640); break here aims through for .7627, maybe .7595.

But above .7732 targets .7741/44 and opens risk up to .7785 and the .7800/10 pivot area, which we would look to try to cap.

Short/ Intermediate-term Outlook - Downside Risks:

For April we see a more negative tone with the bearish threat the new low at .7533 and to the psychological/ option target at .7500.

Below aims for a key chart level from 2009 at .7267.

Through here even sees risk to the 78.6% retracement of the entire 2008-11 rally at .7095.

A taster of the report above. To view the full AUDUSD report (from Sunday) with screencasts, levels and more, click here
Remember, for a FREE trial of our FX and all other reports, sign up by clicking here

2 Hour AUDUSD Chart

b2ap3_thumbnail_AUDUSD2_20150413-052957_1.png

Last modified on
Rate this blog entry:
0
Tagged in: AUD AUDUSD China Forex FX

Steve Miley is The Market Chartist and has over two decades of financial market experience with him. He spent 2009-2012 as a Director of the FX Technical Analysis Research Strategy team at Credit Suisse and was previously at Merrill Lynch for 15 years; 10 years as a technical analyst, 5 years in Fixed Income sales.


He was 2013 winner of the Technical Analyst Magazine Award for Best Independent Fixed Income Research & Strategy, Runner Up for the same award in 2014 and was the winner of Best FX Research & Strategy 2012 (at Credit Suisse).


Steve is a Member of the Society of Technical Analysts (MSTA) and holds a Masters Degree in Politics, Philosophy & Economics from Lincoln College, Oxford University.


Steve has covered all major asset classes including Rates & Credit, G10 & EM currencies, Equity Indices & Sectors and Commodities and has strong relationships across the institutional financial trading spectrum, including Central Banks, Real Money accounts, Hedge Funds and other Global Corporates.

Comments

Affiliates

  • affiliatelogos.png

    affiliatelogos.png

    http://www.marketchartist.com/images/ju_cached_images/affiliatelogos_0dd0698129febe7a7f50dd2279878ab6_90x50.resized.png

Clients

  • users1.png
    http://www.marketchartist.com/images/ju_cached_images/users1_00e523e7fd03fae1d0fb6c1d94bca6bd_90x50.resized.png
  • users2.png
    http://www.marketchartist.com/images/ju_cached_images/users2_e7bcf72e027318698507bc6d5c761f46_90x50.resized.png
  • users3.png
    http://www.marketchartist.com/images/ju_cached_images/users3_9afdb4dd4719675b88b5a560258e415d_90x50.resized.png
  • users4.png
    http://www.marketchartist.com/images/ju_cached_images/users4_979d06a8228e7e19e3d1617d94264ddb_90x50.resized.png

IMPORTANT NOTES

Holiday and cessation of service: 7th-23rd August 2017

Hi Market Chartist Users and Trialists, The Market Chartist reports will be paused for just over 2 weeks, whilst we take a vacation.

The last report will be on Friday 4th August, with service resuming on Thursday 24th August.We wish you successful trading in our absence