GBPAUD - D closed a hanging man doji at the end of a run up, typically signalling a move down. 4hr in a triangle and testing the lower trend line and also the 7 August high. Not sure which way we will react no bias.
EJ - D closed a doji, RSI under 50 level and we are below the 8lwma. The current 4hr open candle is testing the lows. I suspect down but we can react higher. Bias down.
EURAUD - D closed negative to complete an evening star pattern off the 1.5000 resistance level. 4hr lower high lower low flow down. We are approaching a support level and then the W pivot at 1.4726. Below that the target could be the 16 August highs around 1.4625.
AUD - D closed a shooting star failing to go lower, 0.8900 held. 4hr has signalled a counter trend buy with RSI cross up. It remains to see whether this is anything other than a rally in a downtrend. With the current troubles facing the world its quite likely that the flight to safety, typically to the US$, will continue.
Friday, August 30, 2013
Thursday, August 29, 2013
29 August 2013
GBPAUD - Yesterdays bias up played out as did the resistance level with moves up getting rejected around 1.7470 and the D closed another shooting star. 4hr crossed lower yesterday signalling scalp sells. The lower end of the higher high higher low flow is just about holding. The 1hr is on a lower high. Don't know which will win, a move lower would target 1.7200 and a move higher 1.7480. I suspect a little more downside but a move up would be no surprise at all, no bias.
EJ - The oversized negative candle on 27th did not follow through immediately as mentioned, the D closed a large body doji. The area 129.60 gave support in the week of 31 July, 15 and 20 Aug. I suspect down but a move up again no surprise, no bias.
EURAUD - Bias up did not play out as the 1.5000 resistance level held, D closed a shooting star. Asian session moved down strongly on a 4hr lower high. The next support level is around 1.4750/70.
AUD - The strong Asian move down yesterday did not follow through lower W S1 held and the D closed negative with a lower wick again. 4hr RSI crossed higher for a counter trend buy signal moving up to the (from 26 August high) 50% fib/W M2 area. No bias.
EJ - The oversized negative candle on 27th did not follow through immediately as mentioned, the D closed a large body doji. The area 129.60 gave support in the week of 31 July, 15 and 20 Aug. I suspect down but a move up again no surprise, no bias.
EURAUD - Bias up did not play out as the 1.5000 resistance level held, D closed a shooting star. Asian session moved down strongly on a 4hr lower high. The next support level is around 1.4750/70.
AUD - The strong Asian move down yesterday did not follow through lower W S1 held and the D closed negative with a lower wick again. 4hr RSI crossed higher for a counter trend buy signal moving up to the (from 26 August high) 50% fib/W M2 area. No bias.
Wednesday, August 28, 2013
28 August 2013
GBPAUD - The D closed a shooting star after the base at 1.7200 held. Asian session moved up strongly again today, higher high higher low flow in tact. It might be tough going but the previous highs 1.7480 should be a target. Bias up but we are approaching a major resistance level.
EJ - D closed negative in line with the bias with the kind of over sized candle that does not always follow through immediately. Bias down but there appears to be a significant retrace up that will need to work its way out.
EURAUD - D closed positive and Asian session moved up strongly to hit the 1.5000 target. Whilst we'll need to see the reaction at London open so far the price action does not indicate we are going lower. Bias up.
AUD - D closed negative with a lower wick bouncing from last weeks lows. Bias down target should be the lows 0.8840.
EJ - D closed negative in line with the bias with the kind of over sized candle that does not always follow through immediately. Bias down but there appears to be a significant retrace up that will need to work its way out.
EURAUD - D closed positive and Asian session moved up strongly to hit the 1.5000 target. Whilst we'll need to see the reaction at London open so far the price action does not indicate we are going lower. Bias up.
AUD - D closed negative with a lower wick bouncing from last weeks lows. Bias down target should be the lows 0.8840.
Tuesday, August 27, 2013
27 Aug 2013
GBPAUD - D closed a small range doji. 4hr shows clearly the base at 1.7200 holding. Asian session moved up strongly. The previous highs 1.7480 should be a target.
EJ - D closed negative the upper resistance level around the July highs holding. Asian session moved down strongly, bias down.
EURAUD - D closed a doji. Asian session moved up strongly. The previous highs 1.5000 should be a target.
AUD - D closed a doji. Asian session moved down strongly. Bias down target should be the lows 0.8840.
EJ - D closed negative the upper resistance level around the July highs holding. Asian session moved down strongly, bias down.
EURAUD - D closed a doji. Asian session moved up strongly. The previous highs 1.5000 should be a target.
AUD - D closed a doji. Asian session moved down strongly. Bias down target should be the lows 0.8840.
Monday, August 26, 2013
26 Aug 2013
GBPAUD - D closed negative with sell divergence, still on higher high higher low. 4hr has a base at 1.7200 and is on a lower high. 4hr suggests down, not convinced about D. No bias.
EJ - D closed positive but virtually no follow through from Thursdays range break, no doubt due to the upper resistance level. 4hr divergence right at the highs and RSI crossed lower. There is a base around 131.90 bias up.
EURAUD - D closed a doji, 4hr on a lower high. Short term bias down.
AUD - D closed positive, struggling with the 0.9050 resistance area. Short term bias up.
EJ - D closed positive but virtually no follow through from Thursdays range break, no doubt due to the upper resistance level. 4hr divergence right at the highs and RSI crossed lower. There is a base around 131.90 bias up.
EURAUD - D closed a doji, 4hr on a lower high. Short term bias down.
AUD - D closed positive, struggling with the 0.9050 resistance area. Short term bias up.
Sunday, August 25, 2013
Friday, August 23, 2013
23 Aug 2013
A change this morning on the pairs being analysed.
A good example between when I haven't really got a clue whats happening and have no bias and like today where we are on a knife edge and I'd be happy to trade either direction but because of that have no bias.
GBPAUD - D closed negative RSI still above 50 level. 4hr yesterday had an evening star pattern, RSI cross lower which did follow through. We have moved into the general area of the 5 Aug highs that may act as support. Can go either way today so no bias, will be happy to consider good candles in either direction..
EJ - D closed positive on the back of 2 x 1hr higher low 3 bar reversals, after London open and US open. Bias up.
EURAUD - D closed negative when the move above 1.4900 was quickly rejected in Asian session. The upper wicks yesterday during London morning on 1hr showing any move up was sold off. For this pair the move lower was not that large so there are buyers around still. D RSI did not cross lower and we are still above the 8lwma (that is due to 2 very large positive closes earlier this week and ma catching up). 4hr is on a lower high and if we turn positive from here a higher low. No bias but would have no problem with flow moving in either direction.
AUD - A very similar mirrored position to EURAUD.
A good example between when I haven't really got a clue whats happening and have no bias and like today where we are on a knife edge and I'd be happy to trade either direction but because of that have no bias.
GBPAUD - D closed negative RSI still above 50 level. 4hr yesterday had an evening star pattern, RSI cross lower which did follow through. We have moved into the general area of the 5 Aug highs that may act as support. Can go either way today so no bias, will be happy to consider good candles in either direction..
EJ - D closed positive on the back of 2 x 1hr higher low 3 bar reversals, after London open and US open. Bias up.
EURAUD - D closed negative when the move above 1.4900 was quickly rejected in Asian session. The upper wicks yesterday during London morning on 1hr showing any move up was sold off. For this pair the move lower was not that large so there are buyers around still. D RSI did not cross lower and we are still above the 8lwma (that is due to 2 very large positive closes earlier this week and ma catching up). 4hr is on a lower high and if we turn positive from here a higher low. No bias but would have no problem with flow moving in either direction.
AUD - A very similar mirrored position to EURAUD.
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