AUDUSD Technical Analysis 2014, 16.11 - 23.11: Possible Breakout Within Bearish

D1 price is on primary bearish with secondary market rally:

• Chinkou Span line is very near to be crossed with the price from below to above for good breakout
• Senkou Span A line as the border of Ichimoku cloud/kumo is located exact above the price for now; if the price crosses this line so we may see the reversal of the price movement from primary bearish to the primary bullish market condition.
  
• Nearest support level is 0.8764
• Nearest resistance level is 0.8540
  

H4 price is on bullish by breaking the border of Ichimoku cloud to be outside kumo.

W1 price is on primary bearish with 0.8540 support level.

MN price is on bearish market condition ranging between 0.8642 support and 0.9503 resistance levels.

If D1 price will break 0.8764 resistance level so the secondary rally within primary bearish will be continuing
If D1 price will break Senkou Span A line of Ichimoku indicator so the reversal of from bearish to the bullish may be started.
If not so we may see the ranging within bearish market condition.

• Recommendation for long: watch D1 price to break 0.8764 resistance for possible buy trade
• Recommendation to go short: n/a
  
• Trading Summary: bearish
  

UPCOMING EVENTS (high/medium impacted news events which may be affected on AUDUSD price movement for this coming week)

2014-11-17 00:30 GMT (or 01:30 MQ MT5 time) | [AUD - New Motor Vehicle Sales]

2014-11-17 23:00 GMT (or 00:00 MQ MT5 time) | [AUD - CB Leading Index]

2014-11-18 00:30 GMT (or 01:30 MQ MT5 time) | [AUD - Monetary Policy Meeting Minutes]

2014-11-18 08:25 GMT (or 09:25 MQ MT5 time) | [AUD - RBA Gov Stevens Speech]

2014-11-18 13:30 GMT (or 14:30 MQ MT5 time) | [USD - PPI]

2014-11-19 13:30 GMT (or 14:30 MQ MT5 time) | [USD - Building Permits]

2014-11-19 19:00 GMT (or 20:00 MQ MT5 time) | [USD - FOMC Meeting Minutes]

2014-11-20 01:45 GMT (or 02:45 MQ MT5 time) | [CNY - HSBC Flash Manufacturing PMI]

2014-11-20 13:30 GMT (or 14:30 MQ MT5 time) | [USD - CPI]

2014-11-20 15:00 GMT (or 16:00 MQ MT5 time) | [USD - Philly Fed Manufacturing Index]

Please note : some US (and CNY) high/medium impacted news events (incl speeches) are also affected on AUDUSD price movement

SUMMARY : bearish