AUDUSD Pivot Points Analysis - S2 YR1 Pivot to be broken for bearish breakdown

AUDUSD Pivot Points Analysis - S2 YR1 Pivot to be broken for bearish breakdown

28 September 2015, 06:11
Sergey Golubev
0
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W1 price is located below yearly Central Pivot at 0.8556 and below S1 Pivot at 0.7609 for the primary bearish market condition with the secondary ranging:

  • the price is breaking S2 Pivot at 0.7129 from above to below on close weekly bar for S3 Pivot at 0.6181 as a next bearish target;
  • descending triangle patterns were formed by the price with 0.7037 and 0.6907 support levels to be broken for the possible bearish breakdown;
  • 'The AUDUSD is threatening to breakout to new weekly lows this Thursday. As of the US Open the pair has already tested the S4 Camarilla pivot, found at a price of .6943. In the event that the pair trades below this value, it would be considered a bearish breakout. So far, the AUDUSD has declined in the three previous trading sessions, and a breakout here would be the third bearish breakout in the four previous trading sessions. If prices continue to decline, traders may use a 1x extension of today’s 56 pip range to measures a preliminary pricing target. As measured from the S4 Camarilla Pivot, this places initial targets at a price of .6887.'

InstrumentS3 Pivot
S2 Pivot
S1 Pivot
Yearly PP
R1 Pivot
AUD/USD 0.6181
0.7129
0.7609 0.8556 0.9036

Trend:

  • W1 - ranging bearish