Aud/Usd Could It Turn Here?

Hello Traders,

Below is some weekend material to get you ready to trade. I hope to have some more material out for you later today as well. But enjoy this first. Don’t forget that I am here to help traders so please don’t hesitate to share or ask questions. I know that people have been struggling and I just want to remind everyone that is why I do what I do to help traders. So ask away if you need it.

AUD/USD SETUP

If we look at the daily chart the Aud/Usd has multiple wicks to the upside right at this level. That indicates to me that we have some resistance forming. The price hasnt retraced yet either but it looks like it is getting ready to. Watch the support level I drew on the chart and consider going short at a break of that level.

If you want further analysis on Twitter as the trades develop follow me.

Check the daily chart.

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Casey Stubbs is the founder of Winners Edge Trading, which is one of the most widely read forex sites on the web. Winners Edge Trading has trained thousands of people to trade the Forex markets.

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  • Elie Haykal

    I’m looking forward to take this also. Keep us updated please 🙂

  • Abhinav Sahoo

    Will it remain bullish???? I had short @0.9306 previous week. What shall I do.?My stoploss is 0.9456 & take profit 0.9117.

  • Cusin

    Personally I find this pair very costly to short. I could see the pair retracing about 100 pips but then finds solid support around 9280. Unless we have a severe risk off week one would be infinite wealthier bu buying this pair on retraces.

  • Justinmmathews

    Hi Casey. The area which I find most difficult is determining the daily trading highs and lows and the ‘daily trend’. If i get a trade that goes the wrong way i have too often found myself selling out only to find that if i had kept the trade open the open loss would have been temporary.

    Looking at the graph above on aud/usd are you suggesting to not sell/short this pair until they reach the line drawn? Most analysts see the AUD retracing its steps and so I would be tempted to short it to get the extra pips now although their is short term upside risk to ride through? is this foolish?

  • Dkoster77

    Hey Casey, Considering the EUR/USD, if we see another test of the 1.3 support we may see a clear shot to 1.32 and beyond. Consider an entry on the H1 confirmation where the down trend line touches the 1.3000 s/r level. Place a S/L at 1.2945 with a T1 at 1.3150 and T2 at 1.32 with left the balance as a runner.

  • Wolfie

    Should we wait for the RBA announcement?

  • “DonLiverMar”

    PipHeaven If this supports break and besides the fact I stalked aud/usd for two weeks I’m currently short from 9460 ;0) Getting better as Time goes by the only way!!!

  • The way I determine my target area is the next support level.

  • Eikpinng

    how did you ascertain your target area?

  • James Chidolue

    I am taking d trade immediately d market opens on sunday.There are several reversal patterns at d top and there is CCI divergence.I ‘m going to ride this trade till 0.9000.
    George Soros also warned of Gold creating a high and dont 4get that gold and AUD are correlated.Besides d bank of australia arent looking towards raising interest rates for sometime to come.

    Your call is a high probability trade.I ‘m with you on it.

    Happy pipping.

  • LTforex

    I am with you on this call.. target 0.92 …