Day trade
/
Buy
Trade view / 26 February 2018 at 7:36 GMT

AUDUSD moving higher within a bullish channel

Analyst / PIA First
United Kingdom
Instrument: AUDUSD
Price target: 0.7990
Market price: 0.7872
Background

US Treasuries have gained significant ground with the 10-year yield declining to near 2.85% on Monday from a four-year peak just above 2.95% last week amid some moderation in Federal Reserve policy tightening expectations.

The decline in yields undermined dollar support with the US currency unable to sustain rallies against the yen as the currency index retreated. German yields also moved lower as Italian political uncertainty triggered some uncertainty with the combination limiting euro support.

Lower US yields also helped underpin equity markets with solid gains in US and Asian stocks while a dollar retreat provided support to energy prices with crude at the highest level for over two weeks.

Technical

  • We posted mild net daily gains but all trading confined to the previous days range, an indecisive Inside Day. 
  • Buying posted in Asia. 
  • Trading within a Bullish Channel formation. 
  • The rally is close to a correction count on the intraday chart. 
  • Previous resistance at 0.7860 now becomes support. 
  • We look to set longs at our bespoke indicator levels (0.7850). 

AUDUSD (intraday four-hour chart):
AUDUSD 4
Source: Saxo Bank

Parameters

Entry: we look to buy at 0.7850.

Stop: 0.7815.

Target: 0.7990.

Resistance: 0.7950 / 0.7992 / 0.8010.

Support: 0.7850 / 0.7841 / 0.7818.

— Edited by Michael McKenna

Non-independent investment research disclaimer applies. Read more
A compiled overview of Trade Views provided on TradingFloor.com is found here
1y
usxau usxau
Good morning Ian! Hope you had a great break! ;) Wishing you a great start into the new trading week! ;)
1y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
GM Sab... all good here. Hope you are well and all the best for this week ;-)
1y
David12 David12
Good morning all
1y
HaythamSabry HaythamSabry
Ian, are you still for the his trade. Entry is closing in
1y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
yes ... 47-38 is prime support
1y
HaythamSabry HaythamSabry
Thanks
1y
tonyovsalford tonyovsalford
Good afternoon everyone. Lets get pipping🤪
1y
David12 David12
Ian, any idea about USDCHF ?
1y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
From here (0.9350), I think the bias will be lower but buying dips at much lower levels.
1y
TradingFan TradingFan
Hi Ian, still confident with the AUDUSD day trade? Thanks
1y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
yes.. please see above comment
1y
alki alki
In @7847 support level.
1y
themis themis
Many thanks, one more time Ian , for this new adventure...!!!
1y
Chris O'Connell Chris O'Connell
Hi Ian, Hope you're well. whats your thoughts on this still?
1y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
Morning Chris.. that was a day trade idea. We close out at 9pm (UK) so was a near flat trade. Today's idea is:

AUDUSD - Intraday - We look to Buy at 0.7818 (stop at 0.7778)

Closed the day little net changed. Trading within a Bullish Channel formation. The move higher is mixed and volatile, common in corrective sequences. Expect trading to remain mixed and volatile. The trend of higher lows is located at 0.7802. Bespoke support is located at 0.7818. Preferred trade is to buy on dips. Intraday signals are far from strong.
Our profit targets will be 0.7996 and 0.8013

Resistance: 0.7900 / 0.7996 / 0.8013
Support: 0.7818 / 0.7802 / 0.7758
1y
Chris O'Connell Chris O'Connell
i thought it would have been. thanks for the update
1y
themis themis
Thanks for updating us, Ian
1y
TradingFan TradingFan
Thanks as I also kept the trade open...
1y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
missed by a tic intraday entry
1y
Chris O'Connell Chris O'Connell
very unlucky there!
1y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
might get another go ;-)
1y
HaythamSabry HaythamSabry
How did the Powell notes go? Supportive of a weak or strong USD?
1y
HaythamSabry HaythamSabry
Trade triggered. Pls let us know if u exit
1y
TradingFan TradingFan
Good question!

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