AUD/USD, NZD/USD, AUD/JPY

AUDUSD beat 7400/20 for a medium term buy signal targeting 7495/99 & 7530/35 then within just 9 pips of our profit-taking target of 7555/65. Then yesterday we collapsed from the resistance, leaving a bearish engulfing candle for a sell signal.

HOWEVER!! Longs at good support at 7475/55 worked perfectly with a low for the day here.

NZDUSD longs did very well as we hit my targets of 7015/20, 7075/80, 7135/40, the September high at 7165/70 & next target of 7210 (missed by just 2 pips). HOWEVER!! Yesterday we wrote: could well have seen a high for the very strong rally now.

What a call! Even though there was no sell signal the pair crashed, leaving a bearish engulfing candle for a sell signal. AND LONGS AT FIRST SUPPORT AT 7140/30 ARE WORKING!!

AUDJPY beat 8570/80 with shorts stopped above 8600. We wrote: However unfortunately it does look like we have seen a high for the rally at yesterday’s high of 8624…likely to see profit-taking now in severely overbought conditions.

Another perfect call!!! The pair headed significantly lower leaving a bearish engulfing candle for a sell signal.

Daily analysis

AUDUSD held a fraction below the 7555/65 target for profit taking on longs & triggered sell signal yesterday with the bearish engulfing candle. Longs at good support at 7475/55 targets 7490/7500. Gains are likely to be limited now. However a break above 7510 allows a recovery to 7530/35. Strong resistance at 7555/65 should be a big challenge. It is unlikely we will reach this far but if we do, try shorts with stops above 7580. A weekly close above here is a buy signal targeting very strong resistance at 7630/50.

Longs at 7475/55 are working. Stops below 7440. A break lower is a sell signal targeting 7410/7390, perhaps as far as 7360/50.

NZDUSD headed lower exactly as predicted to first support at 7140/30 & THIS WAS THE LOW FOR THE DAY!! Longs are working as we target 7180/90 for profit taking. Gains are likely to be limited now. If we retest 7200/7220, try shorts with stops above 7240. BUT be ready to sell again at very strong resistance at 7255/75. Stop above 7300.

Longs at first support at 7140/30 must stops below 7110. A break lower is a sell signal targeting 7090/80, perhaps as far as 7040/30.

AUDJPY hit profit taking exactly as predicted & IN FACT MADE A LOW FOR THE DAY EXACTLY AT SUPPORT AT 8510/8490. Longs need stops below 8475. A break lower is a sell signal targeting 8440/20. A break below 8410 is the next sell signal targeting 8370 & 8340.

Our longs at 8510/8490 target 8540/50. Gains are likely to be limited but we could reach as far as 8580 for profit taking. I would sell at 8620/40 with stops above 8670. A weekly close above here however is a buy signal for next week.

Chart

AUD

 

NZDUSD

 

AUDJPY

The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.

Feed news

Latest Forex Analysis


Latest Forex Analysis

Editors’ Picks

EUR/USD climbs above 1.1250 as investors eye coronavirus headlines

EUR/USD preserved its recovery momentum early Friday and rose above 1.1250 during the European trading hours. Markets are doubting the Fed's policy tightening prospects as the new coronavirus variant revives concerns over the economic recovery losing steam.

EUR/USD News

GBP/USD rebounds toward mid-1.3300s on broad dollar weakness

GBP/USD reversed its direction after dipping below 1.3300 earlier in the day and started to push higher toward 1.3350. The greenback is facing heavy selling pressure amid the sharp decline witnessed in the 10-year US Treasury bond yield.

GBP/USD News

Gold clings to strong gains above $1,800 as US T-bond yields plunge Premium

Gold staged a decisive rebound on Friday and reclaimed $1,800. The intense flight to safety is causing US Treasury bond yields to fall sharply and fueling XAU/USD's rally. Investors await news on vaccines' effectiveness against the new COVID variant.

Gold News

Cardano could tank to $1 if ADA fails to defend crucial support

Cardano price is currently hovering below a freshly shattered 6-hour demand zone, ranging from $1.68 to $1.79. This resulting crash could extend to the immediate and critical foothold at $1.40. 

Read more

Black Friday 2021 Discounts!

Do you want to take your trading skills to the next level? Now you have a chance of leaping forward at attractive introductory rates. For Black Friday, FXStreet is offering discounts of up to 50% on its upgraded Premium plans. 

Subscribe now!

Majors

Cryptocurrencies

Signatures