AUDUSD, Descending-Wedge-Formation, How It Can Complete!

Hello Traders Investors And Community,

Welcome to this analysis about AUDUSD, we are looking at the 12-hour timeframe perspectives. AUDUSD is developing some interesting price-actions in recent times as it is holding above the 0.745 level. Besides that, I discovered the main descending-wedge-formation forming here which is on most occasions a bullish reversal formation that can lead to a determined breakout. In this case, AUDUSD has the coherent wave-count within the formation and the waves A to C almost already completed. Now as AUDUSD approaches the lower boundary this is likely to be the origin of the wave D to the upside which will approach the upper-boundary anew continuing with the wave-count and finalization of it with the wave E that will move into the confirmational-bounce-cluster in blue from where a bounce is likely to settle and when this bounce finally moves above the upper-boundary it will be the confirmation of the wedge and activation of upside targets when these are reached the situation needs to be elevated anew. For now, it will be important to elevate how AUDUSD continues in the wedge and possibly completes it ahead of upcoming times, it will be an interesting development.

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Information provided is only educational and should not be used to take action in the markets.