AUDUSD, Completed Bear-Flag, Further Continuations!

Hello,

Welcome to this analysis about AUDUSD on the 2-day timeframe perspectives. As when looking at my chart we can watch there how AUDUSD is in a crucial condition with this major wave count emerged with the initial bearish wave A to the downside from where AUDUSD continued to form the next wave B which has taken the shape of a bear flag formation and in this bear flag together with the major wave B AUDUSD also formed a coherent local wave count from A to C in the bear flag. The fact that AUDUSD already pulled back highly bearishly below the lower boundary of this whole bear flag formation in a high volatile manner shows that AUDUSD has a high likelihood to continue with the movements and the development of the wave C in this whole structure. Also as AUDUSD recently completed the bear flag AUDUSD activated lower target zones marked in my chart in the black box, once these targets have been reached the situation needs to be elevated again and AUDUSD needs to show if it reverses in this zone or just sets up for the next bearish continuations, it will be an interesting development ahead.

In this manner, thank you for watching the analysis, all the best!
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Information provided is only educational and should not be used to take action in the markets.