FullTimeTrader
Long

AUDUSD-time for a rebound

FX:AUDUSD   Australian Dollar/U.S. Dollar
1212 10 18
I see many reasons to expect a rebound at this area.
Looking at monthly chart we have an AB=CD pattern and a bollinger band duplication (one of my favorite tools) near the 0.7000 level.
snapshot


On W1 chart we have a strong bullish divergence on AO, wave 5 blue circled seems to be complete also:
snapshot


Here on D1 chart:
- Wave 5 green complete
- Bullish divergence on AO
- Strong figure 0.7000

Best regards.
FullTimeTrader HamzaLeith
Hello, i agree this pair has more downside potential. I expect some correction here and will be ready to sell again. There some valid EW counts to keep in mind, my main signal here is the bollinger band duplication on monthly chart, this is a setup a have backtested before. Regards.
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HamzaLeith FullTimeTrader
I had the same outlook on this pair like you, but as you can see the downwards momentum is really strong, You made a very nice call on the correction!, there is just no more room to the downside before a minor correction. Regards, Hamza
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first, i will buy @ 0.70024 and my target is 0.71387
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FullTimeTrader SafwatMohamed
Good short term targets.
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Another reason, the news is entirely bad at this point, typical of wave 5.
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Maybe one more weekly AO divergent push for the bottom.
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IvanLabrie PRO IvanLabrie
AB=CD*1.618?
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FullTimeTrader IvanLabrie
Im expecting just some rebound, i think price has more downside potential. My main signal here is the bollinger band duplication, the rest is confirmation. Regards.
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snapshot

Have simillar first targets
Best of luck :)
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