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The Asia-Pacific session saw investors step in to pull the Nikkei 225 index out of a week of declines in which it briefly breached the 22,000 level. EURUSD, meanwhile, continues to look robust despite a lack of support from other major dollar pairs.
Short term
Trade view / 19 September 2016 at 7:35 GMT

AUDUSD signals open sub-0.7500 potential

partner and technical analyst / 3 c analysis
United Kingdom
Instrument: AUDUSD
Price target:
Market price:
Background

Signals for the AUDUSD have been bearish in each of the last two weeks and these have been confirmed, after investors sold the market last week to post initial losses of 1 Big Fig. This has ended a sequence of higher monthly lows which is supporting the negative view, but with prices testing their key 100- & 200-day average rates,   signals are pointing to selling the rally this week.

Management and risk description

Only sell modestly at market and then on the rally. Lower stop to entry if the first target is met.

Parameters

Entry: sell at market and 0.7582, the 50-day average rate.

Stop:
0.7658, the September 9 top.

Target:
0.7456, just above Thursday's low and 0.7322, the 12-week base.

Time horizon: this week.


 Source: CQG


AUDUSD Weekly -rally stalls
 Source: CQG

AUDUSD Monthly - recovery to losses
 Source: CQG


AUDUSD Quarterly - 7 year lows
 Source: CQG


— Edited by Martin O'Rourke

Non-independent investment research disclaimer applies. Read more
1y
Michael Liu Michael Liu
Stop price is too far away from current price.
1y
Steve Lucas Steve Lucas
Hi Michael - this is a weekly call and the stop is good - the 2nd target is 2 Big Figs away which keeps the trade valid.
1y
Michael Liu Michael Liu
Ok, understood
1y
Dj TinTin Dj TinTin
I'm in Steve ready for another weeks hammering (hope not )
1y
Paul Sumner Paul Sumner
Hi Steve, is this trade still valid? Do you plan to close the trade before FOMC? Many thanks
1y
Steve Lucas Steve Lucas
Hi Paul - I'll probably keep very small until Friday lunchtime if not stopped beforehand
1y
Michael Liu Michael Liu
Hi Steve, Do you still hold this position?
1y
Steve Lucas Steve Lucas
Hi Michael - I kept tiny going into Fed, but cut last night

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