Daily price was on the secondary correction within the primary
bullish market condition: the price was bounced from 0.7489 support
level to above for the ranging condition to be started. For now, the
price is on ranging within the following support/resistance levels:
Absolute Strength indicator is estimating the ranging bullish market condition to be continuing in the near future.
If D1 price breaks 0.7489
support level on close bar so the secondary correction within the
primary bullish trend will be resumed with the ranging way: the price
will be located inside Ichimoku cloud in this case.If D1 price breaks 0.7407
support level on close bar so the reversal of the price movement from
the ranging bullish to the primary ebarish market condition will be
started.If D1 price breaks 0.7691
resistance level on close bar from below to above so the bullish trend
will be resumed with 0.7755 nearest bullish target to re-enter.If not so the price will be on bullish ranging within the levels.
SUMMARY : bullish
Forum on trading, automated trading systems and testing trading strategies
Sergey Golubev, 2016.09.03 10:17
Weekly Outlook: 2016, September 04 - September 11 (based from the article)
Kuroda’s speech, Rate decision in Australia, Canada the EU, Employment data in the US and Canada as well as US Crude Oil Inventories. These are the highlights of this week.
New daily bar was opened and our dynamic support/resistance levels were changed a little:
Descending triangle pattern was formed by the price to be crossed to below for the correction to be started (if crossed).
Most likely scenarios for the daily price movement for the week are the following:
So, it is the ranging anyway (good for martingale and for scalping systems for example).
Sergey Golubev, 2016.09.06 07:38
AUD/USD Intra-Day Fundamentals: Reserve Bank of Australia Cash Rate and 20 pips range price movement
2016-09-06 04:30 GMT | [AUD - Cash Rate]
if actual > forecast (or previous one) = good for currency (for AUD in our case)
[AUD - Cash Rate] = Interest rate charged on overnight loans between financial intermediaries.
From Financial Times article: RBA keeps benchmark rate on hold
"The Reserve Bank of Australia has kept its benchmark rate on hold at 1.5
per cent, as Glenn Stevens presides over his final policy meeting as
From the RBA’s statement:
Low interest rates have been supporting domestic demand
and the lower exchange rate since 2013 is helping the traded sector.
Financial institutions are in a position to lend for worthwhile
purposes. These factors are all assisting the economy to make the
necessary economic adjustments, though an appreciating exchange rate
could complicate this.
Supervisory measures have strengthened lending standards in the
housing market. Separately, a number of lenders are also taking a more
cautious attitude to lending in certain segments. The best available
information suggests that dwelling prices overall have risen moderately
over the past year and growth in lending for housing purposes has
slowed. Considerable supply of apartments is scheduled to come on stream
over the next couple of years, particularly in the eastern capital
AUD/USD M5: 20 pips range price movement by RBA Cash Rate news event
Indicators: MFCS Currency Correlation Chart
Sergey Golubev, 2014.02.04 09:27
Australian Dollar Strongly Correlated to Gold, Silver, Steel Prices (based on this article)
View forex correlations to the SPDR Gold ETF Trust
(GLD), United States Oil Fund ETF (USO), SPDR Dow Jones Industrial
Average ETF Trust (DIA), UK FTSE 100 Index, and IShares Silver Trust ETF
Sergey Golubev, 2016.09.07 08:14
AUD/USD Intra-Day Fundamentals: Australian Gross Domestic Product and 28 pips range price movement
2016-09-07 01:30 GMT | [AUD - GDP]
[AUD - GDP] = Change in the inflation-adjusted value of all goods and services produced by the economy.
AUD/USD M5: 28 pips range price movement by Australian GDP news event
Sergey Golubev, 2016.09.08 08:47
AUD/USD Intra-Day Fundamentals: Australian Trade Balance and 37 pips price movement
2016-09-08 01:30 GMT | [AUD - Trade Balance]
[AUD - Trade Balance] = Difference in value between imported and exported goods and services during the reported month.
AUD/USD M5: 37 pips price movement by Australian Trade Balance news event