Tag: AUDLFX

Weekly Currency Index Technical Analysis – 16 March

Weekly Currency Index Technical Analysis – 16 March

Technical Analysis
Currency Index Notes: From last week's analysis, we had recommended to sell NZDUSD, targeting 0.72 from 0.74/0.75 levels, short GBPAUD, GBPCAD, AUDUSD, NZDCAD and to buy USDJPY. As of market close on Friday, 13th March the recommendations performed as follows: NZDUSD: Rallied to 0.74 and dipped lower below 0.72, +2.7% Profit GBPAUD: +1.18% Profit on Short GBPCAD: +0.83% Profit on Short AUDUSD: +1.04% Profit on Short NZDCAD: -0.87% Loss on Short USDJPY: +0.49% Profit on Long AUDNZD: +0.61% Gain since 2nd March on Long Continue to remain holding AUDNZD and exit half the position at 1.05 and exit towards 1.07 Continue to hold AUDUSD, NZDUSD shorts Australian Dollar Index The Aussie Dollar managed to reach/retrace back to the support/resistance region between 1.542...
Weekly Currency Index Technical Analysis – 9 March

Weekly Currency Index Technical Analysis – 9 March

Technical Analysis
Currency Index Notes: From last week's analysis we recommended long positions in CADJPY, AUDJPY and AUDNZD while taking short positions in EURAUD and EURCAD. As of the end of the week, the recommendations worked out as follows: CADJPY: Down -0.13% or 1.27 pips AUDJPY: Down -0.42% or 0.394 pips AUDNZD: Gain +1.34% or 138.1 pips EURAUD: Gain +1.99% or 285 pips EURCAD: Gain 2.15% or 300.4 pips For the week ahead, we suggest to close out all the positions*. *Correction: Continue to hold buy position in AUDNZD Australian Dollar Index As noted for the past few weeks, the Australia dollar index managed to break the short term resistance at 1.5128 to push higher towards 1.5344 From the daily charts, we notice a strong rejection candlestick formed on Friday's close This could...
Weekly Currency Index Technical Analysis – 2 March

Weekly Currency Index Technical Analysis – 2 March

Technical Analysis
Currency Index Notes: From last week's analysis, we had recommended to buy the dips on GBPUSD, AUDUSD and NZDUSD while taking a short term long position for the first part of the week. GBPUSD gained 0.25%, AUDUSD lost -0.63%, NZDUSD gained 0.58% and AUDJPY was practically unchanged at -0.08%. NZDUSD continues to be the biggest winner since our recommendation to stay long from 16th February. In total NZDUSD gained 1.13% for the period. Australian Dollar Index: Although the currency index is trading above the short term support at 1.5128, the candlestick point to indecision From the daily charts, we noticed a dip to the support last week and we expect the Australian Dollar to rally this coming week The rally could potentially be capped near the resistance level of 1.54 - 1.534 le...
Weekly Currency Index Technical Analysis – 23 February

Weekly Currency Index Technical Analysis – 23 February

Technical Analysis
Currency Index Notes: From last week's analysis, we recommended to go long on NZDUSD, exit CADJPY longs and to go short on USDCAD. For the week, NZDUSD longs gained +0.4% and USDCAD is -0.53% Australian Dollar Index: Last week, the Aussie closed bullish after a spinning bottom candlestick pattern. This shows that a retracement to 1.5344 is the next level the Aussie will head to From the daily charts, price managed to close above 1.5128 support level. We expect a dip down to this price point as the ideal set up to go long However, price action could simply continue its bullish momentum and rally towards the 1.5344 levels Conclusion: Look for long positions on AUD Canadian Dollar Index: Last week the Canadian dollar was weaker and the weekly candlestick shows a bear...
Weekly Currency Index Technical Analysis – 16 February

Weekly Currency Index Technical Analysis – 16 February

Technical Analysis
Currency Index Notes: From last week's analysis we noted that CADJPY, EURAUD made for ideal long positions, while looking for short positions in EURNZD. Looking at the week's performance, CADJPY rose 0.48%, EURAUD was up 0.7% and EURNZD short position gained 0.58%. Australian Dollar Index: Weekly charts continue a second week of choppy price action but still near the lower end of the smaller price channel We would need to see a rise above 1.5128 in order for AUD to target 1.5344 support/resistance level From the daily charts, we notice a reversal candlestick pattern, but nothing very conclusive. Conclusion: Look for long positions in AUD only on a daily bullish close above 1.5128. Canadian Dollar Index: The sharp bullish reversal from the lower end of the major pr...