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Trading AUDUSD Short & EURAUD Long. Trading Long on WTI.

   

Welcome to this week’s Market Blast Technicals.

I’m Brad Alexander and on behalf of Valutrades, today we will look at WTI (US Oil), EURCHF, EURAUD, and AUDUSD.

 

Yesterday we looked at USD from the Fundamental point of view and we saw USD strength but now we have had a bit of a pullback.Screenshot 2021-09-21 at 10.57.07

Investors and traders are waiting for tomorrow’s FOMC meeting to get an idea about future Interest Rate Decisions and Tapering but, meanwhile, we can look at Technical Opportunities.Screenshot 2021-09-21 at 10.57.31

We see one of these USD pullbacks on AUDUSD where price action is about to reach the upper trend line and the Stochastic Oscillator is heading into overbought territory.

A reversal of these could give us a good “Sell” opportunity.Screenshot 2021-09-21 at 10.57.43

We see a similar situation with EURAUD but inverted, of course.

Price action has just fallen to touch the lower trend line and the Stochastic Oscillator is heading into Oversold but we need to wait for confirmation before opening a “Buy” position.Screenshot 2021-09-21 at 10.58.03

A more current similar opportunity exists with EURCHF as price action is trying to show us a reversal and the Stochastic Oscillator has already turned from Oversold and the D and K lines have crossed.

If we look at the Daily chart we see that the next target above is 1.093 francs.Screenshot 2021-09-21 at 10.58.42

This is just above the 50% Fibonacci level and we can see that price has bounced off the 38.2% level of support.

Even the Stochastic Oscillator is looking bullish on the Daily chart but watch out for Thursday’s Swiss Interest Rate Decision.Screenshot 2021-09-21 at 10.58.55

Price Action on WTI is also giving us a bullish indication above $71 as we can see from our lower trend line.

Recent highs were over $76 but don’t forget, we had highs above $78 in June.

That’s all for now.  Happy trading with Valutrades and we will see you later in the week with our trading tips video.

CFDs and FX are leveraged products and your capital may be at risk.21 Sept EN TN

 

Disclaimer:

The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice. If such information is acted upon by you then this should be solely at your discretion and Valutrades will not be held accountable in any way.

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