AUDUSD - Complex Technical Analysis
Hello Traders!
I've prepared full analysis for AUDUSD for you, it consists of classical technical analysis and Elliott Wave Coverage. Also if you like my analysis and you find it useful please LIKE and leave a COMMENT. You motivate me do more analyses.
Let's start from weekly review. During the last 1.5 years AUDUSD has bounced 6 times from Key support and resistance level of 0.7495
I've marked with red lines key weekly levels and yellow zones of contacts.
The second thing I would like to pay your attention on Weekly chart is nice bullish Pinbar without body and with long tail just two weeks ago. It's bullish signal. Before we have seen strong downtrend, and two weeks ago price went down as low as 0.7410 and then bounced up to close weekly candle at 0.7540. The Market told me: "Hey, bulls are sitting below red line and they are ready to buy".
Let's go further, on 4Hr you can see bullish Head&Shoulders formation. Chart with details
So let’s put Elliott Wave glasses on and see if a recognizable pattern is going to emerge on the chart below. I see the WXY correction.
Wave W divided into three waves (A)-(B)-(C).
Wave (A) - is impulsive wave
Wave (B) - has 3-wave structure ABC
Wave (C) - is diagonal
Chart for help
And the Elliott Wave Count for last several waves
Also the interesting fact of Parallel lines Power. Just three easy steps could help you to define the reversal zone.
We have a lot of arguments to expect the further rally at least to the next border of parallel channel. Contact me if you want to be updated everyday.
That's all for today with AUDUSD. If you like my analysis and you find it useful please LIKE and leave a COMMENT. If you want to have everyday analysis or you need individual help with trading, chart analysing or Elliott Wave - contact me. Thanks for your time for reading this post!
I've prepared full analysis for AUDUSD for you, it consists of classical technical analysis and Elliott Wave Coverage. Also if you like my analysis and you find it useful please LIKE and leave a COMMENT. You motivate me do more analyses.
Let's start from weekly review. During the last 1.5 years AUDUSD has bounced 6 times from Key support and resistance level of 0.7495
I've marked with red lines key weekly levels and yellow zones of contacts.
The second thing I would like to pay your attention on Weekly chart is nice bullish Pinbar without body and with long tail just two weeks ago. It's bullish signal. Before we have seen strong downtrend, and two weeks ago price went down as low as 0.7410 and then bounced up to close weekly candle at 0.7540. The Market told me: "Hey, bulls are sitting below red line and they are ready to buy".
Let's go further, on 4Hr you can see bullish Head&Shoulders formation. Chart with details
So let’s put Elliott Wave glasses on and see if a recognizable pattern is going to emerge on the chart below. I see the WXY correction.
Wave W divided into three waves (A)-(B)-(C).
Wave (A) - is impulsive wave
Wave (B) - has 3-wave structure ABC
Wave (C) - is diagonal
Chart for help
And the Elliott Wave Count for last several waves
Also the interesting fact of Parallel lines Power. Just three easy steps could help you to define the reversal zone.
We have a lot of arguments to expect the further rally at least to the next border of parallel channel. Contact me if you want to be updated everyday.
That's all for today with AUDUSD. If you like my analysis and you find it useful please LIKE and leave a COMMENT. If you want to have everyday analysis or you need individual help with trading, chart analysing or Elliott Wave - contact me. Thanks for your time for reading this post!