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Long

AUD/USD WEEKLY POSSIBLE MOVEMENT FORECAST

FX:AUDUSD   Australian Dollar/U.S. Dollar
39 0 2
AUD/USD             WEEKLY POSSIBLE MOVEMENT FORECAST.

1. FALSE BREAKING DOWN HAPPENED SEVERAL WEEKS BEFORE.

2. MIDDLE TERM TREND LINE HAS BROKEN.

3. LONG TERM TREND LINE GIVE A LOT OF SPACE TO RUN UNTIL NEXT TOUGH.

4. DOUBLE BOTTOM HAS ESTABLISHED.

5. RECENT MOVEMENT IS MOST LIKELY THE THE 1 WAVE.

NOW WHAT TO DO IS WAITING A RETRACEMENT TO THE BOTTOM, WHERE IS A GOOD OPPORTUNITY TO CATCH A UPWARD MOVEMENT FOR NEARLY 1000 PIPS.

TARGET IS 38.2% AS SHOW ABOVE. THIS ALSO DEPENDS ON WHEN WILL PRICE ENCOUNTER THE LONG TERM TREND LINE .

IF PRICE BREAK THE LOW AGAIN, ALL THE ANALYSIS MEAN NOTHING. BEST PRACTICE IS WAITING A WEEKLY CONFIRM BAR NEAR THE BOTTOM.
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