EURUSD, AUDUSD trading plan (02-11-2015).

EURUSD trading plan.

I will sell rallies into resistances up to 1,145, aiming at 1,10, 1,06, 1,0, 0,991 and finally 0,91.

On the monthly chart the pair is still struggling with a 61,8 fibo resistance around 1,12. If it confirms a bearish breaking, the next monthly supports are 1,06 (horizontal line), 1,0 (parity), and 0,991 -0,91 (fibo support lines).

EURUSD MONTHLY CHART.

EURUUSD_M

On the weekly chart the pair made a bearish breakout of a triangle support trend line, and went to retest it, posting a doji. This means the bearish breakout is not confirmed, and the pair may still consolidate back into the triangle. Worth of note it the 55 SMA that twice strongly resisted when the pair tried to go up. Should the eurodollar get there, I will look for selling signals.

EURUSD WEEKLY CHART.

EURUSD_W

If we take a look at the H4 chart, we see the pair is in a downtrend, with strong bearish candles, and rather small bullish ones. There is even a shooting star on the retest of the support trend line.

This is why I prefer to sell signals on that pair. Please remember this is NFP week, therefore the pair may consolidate for quite a long time before giving tradable signals.

AUDUSD trading plan.

Consider buying above 0,705 as the aussie seems to start a bullish consolidation. Aim at 0,76.

On the monthly chart, the pair has posted an inverted hanging man at the 0,70 psychological level, with is also a 0,786 fib support. This is very bullish. Please note the first monthly resistance around 0,76

AUDUSD MONTHLY CHART.

AUDUSD_M

On the daily chart, the pair has bottomed around 0,69, and since then has been  making higher highs and higher lows ; it is entering a bullish consolidation. We may also notice a bullish stochastic divergence. The two last candles form a bullish engulfing pattern, over the 0,705 support level, where a daily support trend line is also located. As long as we remain above that level, I prefer to look for longs to go back to the 0,76 resistance level.

EURUSD H4 CHART.

EURUSD_H4

AUDUSD DAILY CHART.

AUDUSD_D

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