James Kim@Saxo
In this webcast, Saxo's global sales trader James Kim runs through the events of the week ahead and give his thoughts on the positioning of S&P, Hang Seng, US Dollar Index, EURUSD, USDCHF, NZDUSD, AUDUSD, USDJPY, XAUUSD.
Day trade
Trade view / 08 August 2016 at 7:42 GMT

Ending wedge highlights downward bias for AUDUSD

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

USD Index – We called a bullish bias in the USD on Friday recommending buying close to the right shoulder support at 95.50. We made a 95.49 low.It's a critical level now for the index as we are against trendline resistance at 96.22. A break here and we look for a higher move towards 96.60 (61.8% Fibonacci) and 96.84 (AB=CD target). Looking to follow the trend this morning. 

USD Index - Intraday
USD Index

Source: Saxo Bank. Create your own charts with SaxoTraderGO click here to learn more

I have taken a AUDUSD short and here is why:

Monthly – Still bearish with the whole move from September 2015 considered a fourth wave correction in a bearish Elliott Wave formation. A clear break of the expanding wedge and the target area becomes 0.5000 over the next few years. 
Source: Saxo Bank 

Weekly – Doesn’t give away too much. In a corrective channel formation with a Doji style daily candle posted close to the 61.8% pullback level of 0.7570
Source: Saxo Bank 

Four hour - Highlights an Ending wedge formation. The target area for this pattern is 0.7420. However, we could see some stalling and profit taking at relevant Fibonacci levels today (161.8% at 0.7553 and 261.8% at 0.7486) as they line up with the wedge base and a previous swing low. 
 Source: Saxo Bank

I am short one unit at 0.7612 and would like to see an hourly close at 1000 GMT below 0.7615 or we could see a higher correction to 0.7638 where I will sell another unit. 

Management and risk description


Entry: short 0.7612 and will sell again at 0.7638

Stop: 0.7660

Target: 0.7490 and 0.7420

Time horizon: 1-3 days 

— Edited by Clare MacCarthy

Non-independent investment research disclaimer applies. Read more
andywielkiszu andywielkiszu
Hi Ian! Your Sl 07645 concerncs first trade, or also this level 0.7638?
andywielkiszu andywielkiszu
Thank You Ian!
Cap21 Cap21
pls advice audusd ! today trade
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
this is our trade call today: AUDUSD - Due to an Ending Wedge formation, we continue to treat extended gains with caution. The rally has posted a correction count on the daily chart. Selling posted in Asia. Trend line support is located at 0.7610. Bespoke support is located at 0.7610. A break of 0.7600 is needed to confirm follow through negative momentum. Our profit targets will be 0.7560 and 0.7500

We look to Sell a break of 0.7600 stop at 0.7630
Cap21 Cap21
great sir
Cap21 Cap21
thanks so much


The Saxo Bank Group entities each provide execution-only service and access to permitting a person to view and/or use content available on or via the website is not intended to and does not change or expand on this. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on or as a result of the use of the Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. When trading through your contracting Saxo Bank Group entity will be the counterparty to any trading entered into by you. does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of ourtrading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws. Please read our disclaimers:
- Notification on Non-Independent Invetment Research
- Full disclaimer
- 沪ICP备13028953号-1

Check your inbox for a mail from us to fully activate your profile. No mail? Have us re-send your verification mail