Sunday, October 20, 2013

AUDCAD AUDNZD AUDUSD USDCAD NZDUSD 131019

AUDNZD


AUDCAD on the daily close to oversold.
On the weekly, oversold.
AUDCAD on the weekly has come up to retest the previous support and 50% retracement of previous down move. On the  daily, top of up trend channel with a very steep ascend. 


On the H4, AUDCAD starting to form a type of ascending channel and oversold.


I am short AUDCAD here small size.

 AUDNZD


AUDNZD on the daily still capped below the 200KAMA which is flattening and still below the daily trendline. 


On the H4, AUDNZD is forming higher lows with a flat top, a bullish triangle pattern?

AUDUSD


On 9 August, I noted this formation on the chart. Too bad i didn't take the trade, as it was pretty unbelievable.


Well, believe it, AUDUSD has reached the level that was noted 9 August. With strong bullish close into the 50% retracement.
Daily and weekly is overbought, but no reversal candle spotted yet.


H4 candles are flat lining against the resistance, should look for reversal candle formation before shorting. Next level is near parity at 0.9920, which the 200 KAMA is running through + broken trendline retest of triangle break.

I got burnt a huge hole in my ass shorting this pair before at 0.9420.

USDCAD


USDCAD H4, currently supported at 61.8 retracement of recent upmove, also the 23.8 retracement of longer downmove previously.
Flag extension leads to lows of 1.0180 + 200KAMA at weekly chart + 50% retracement of weekly upmove.



NZDUSD


NZDUSD daily has overhead resistance at 0.8580 - 0.8620. Looks like it might extend to 123.8 fib. and long term resistance on the weekly trendline + weekly R1 0.8570 + trendline retest at 0.8670. Look for reversal candles on the H4.


No reversal candles yet on the H4.
NZDUSD daily is oversold + weekly is oversold.

In my humble opinion, I think NZD and CAD will outperform AUD in the short term against the dollar. And the weakness of the AUDNZD compared to the AUDCAD could mean a lower low on the AUDNZD before the final push up.

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