Big selloff on Euro and Pound...but no follow through selling on Aussie as usual. It does appear Aussie is currently trapped on the 1hr chart below .7500 and above .7460(1hr 50ma is at .7460).

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I wouldn't be surprised if we hit .7580-7600 based on the Daily chart and the prior support area line I drew in there. That could be where this is heading to retest and for possible resistance.

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Couldn't have called this one any better from last week!

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Well folks, that's exactly why I'm not taking any short trades!!! We just broke through .7500 and made another Higher Higher!!!

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Just thought I'd post a couple more charts. Yesterday price stayed above .7400(which is where I said it need to break down below for any further correction lower...but didn't do that). So you can see, it was a good place to "Buy the Dip" and make ...

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Sorry, that was suppose to be s&r...support&resistance.

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This is true. I'm a day trader taking most my signals off the 1hr chart while respecting a&or levels on the 4hr and daily.

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I'm not sure I see the same thing as you...I don't see any daily double top. Unless you mean the .7383 peaks from Oct. 2015 and Feb. 2016...but those have already been broken.

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As expected, price just couldn't get down below .7400. Every dip just forms a Higher Low and there is no follow through on any selling with Aussie. Bulls are still in full control! A close above .7460 would be the 7th straight bullish daily candle. ...

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There might be a bigger correction coming, I'm still bullish on Aussie. But to "buy a dip" you need a correction/pullback lower. If price can get below .7400 we should get a better correction. I forgot to add on the chart, it looks like a possible M ...

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Anyone buy the dip on Aussie when it pulled back to the 1hr 50ema and stalled??? Easy 30-50pips!

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Good post Blackopal. Always glad to hear traders managing their risk well. I'm not sure I would advise buying Aussie at a high level though just in case it pulls back. In fact, buy the dips is what we should wait for. Unfortunately sometimes, like ...

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320pips in 5 straight bullish daily candles on Aussie this week! Nothing has changed on my charts as we are still making Higher Highs and Higher Lows. Until that changes, Buy The Dips for the safest trade out there!

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Making the right call on here versus actually pulling the trigger on my account are two different things. hahaha We haven't really had any good pullbacks since Monday/Tuesday for me to get in long, so unfortunately I've just watched from the ...

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1hr candle just closed, Bullish engulfing candle. I have nothing on my charts saying to short. Price is too high to enter long right now, I'd look to place a stop loss under 7350 so would need a pullback around .7380 to keep the s/l around 30pips. ...

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Regarding the last couple of sentences above, while I tend to get the direction right a majority of the time...my biggest flaw is timing. I didn't see price rallying up to the ".7400-7500" area until next week. If I can ever figure out my timing of ...

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Interesting Price Action again...Good USD data, Aussie up...but at the same time, Euro and Pound went down. Nothing to do on the initial reaction, wait for candle closes for better idea of price action.

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Just one thing to add...more worse than expected news for AUD tonight, yet not follow through on the initial small selloff and now we are up higher than before news. Same pattern over and over again. I will also add in there it's a pretty small ...

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I hope you kept the loss small. And for the record, I'm not always right...I have my share of losses too. But the signs were pretty strong this week and last that being Long Aussie was the correct trade. That being said, All bets are off for NFP ...

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Regardless of what tomorrow's NFP data is...serious damage has been done on the Aussie this week with this 250+ pip rally in 3 days. Even if NFP is Great for the USD, a 250pip drop on Aussie only puts it back at last weeks major support level of ...

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