AUDUSD Update, The Long-term Trend, January 11, 2018

AUDUSD Monthly 2018.01.11

Looking at the long-term 1month chart, we see that audusd has been sideways for nearly two years now, having made the last long- term bottom at 0.6826, 2016.01.15. With the sideways channel-like formation of audusd, we can presume that it should be a retracement pattern being sideways and flat which characterized most of the retracement phase of the trend. If so, then the long-term downtrend that start from the highest top at 1.1079 has yet to continue and we await for the completion of the current long-term retracement and consolidation.

AUDUSD Weekly 2018.01.11

In the 1month chart, we see the stoch(5,3,3) about to make bottom and reverse up, while we see the macd quite consistently show uptrend signal since the last bottom at 0.6826. Relative to this, we see that the bbands 1month appears to have bounced- up off the middle, so possibly the uptrend continue, continuing what is perceived to be an uptrend channel. Also, looking at the 1month chart, we can now see that audusd now approaches the downtrend trendline above more or less, which could be the possible target in consonance with the retracement uptrend channel.

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