13 Feb 2014
Flash: AUD/USD: Bears with plenty to chew on - FXStreet
FXStreet (Guatemala) - Ivan Delgado is the Head of Asian Editors at FXStreet explained that heavy selling off key 0.9060/80 resistance has caused a noticeable change of sentiment towards the Australian Dollar.
Key Quotes:
“…with future price movements likely to be perceived as selling opportunities as short term buyers evaporate”.
“The bounceless decline in price should be a clear warning sign that the market is no longer committed to buy on dips for now”.
“Ichimoku indicators are supportive of a bearish continuation period ahead. In the lower timeframes, the break below the kijun line (H4) or the kumo cloud (H1), two of the 'war horse' measurements of sentiment provide the first clues indicating the bias is in favour of the bears now”.
“Unless the mentioned indicators are regained short term, the market is likely to grow increasingly confident on re-building shorts at 'value' areas / 'selling on strength'”.
“It is important to remind readers that barring any fundamental catalyst, it is rare to see such impulsive selling in the AUD to be counter-challenged by a recovery in price of the same magnitude”.
“Impulsive moves are usually followed by a period of correction/consolidation before further attempts to move price in the initial impulsive direction”.
Key Quotes:
“…with future price movements likely to be perceived as selling opportunities as short term buyers evaporate”.
“The bounceless decline in price should be a clear warning sign that the market is no longer committed to buy on dips for now”.
“Ichimoku indicators are supportive of a bearish continuation period ahead. In the lower timeframes, the break below the kijun line (H4) or the kumo cloud (H1), two of the 'war horse' measurements of sentiment provide the first clues indicating the bias is in favour of the bears now”.
“Unless the mentioned indicators are regained short term, the market is likely to grow increasingly confident on re-building shorts at 'value' areas / 'selling on strength'”.
“It is important to remind readers that barring any fundamental catalyst, it is rare to see such impulsive selling in the AUD to be counter-challenged by a recovery in price of the same magnitude”.
“Impulsive moves are usually followed by a period of correction/consolidation before further attempts to move price in the initial impulsive direction”.