this is my analysis for FX:AUDUSD and the way I will operate.
Post your idea/analysis below for discussion.
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AUD/USD appears to be bottoming out and we might see a strong uptrend in the coming weeks.
My preferred strategy is to buy the dips in AUD/USD.
I recommend buying any dips in AUD/USD between 0.7430-0.7465 with SL below 0.74 and initial
TP at 0.7560. Long term traders can target the 0.78 area as TP
# It broke an ascending price channel (black).
# At the end of the Wyckoff conjugation (green).
# on the 4H chart in the second wave of the Elliott wave impulse (dark blue).
# targeting = 0.7100
# Failure if it exceeds 0.7663.
Grey Lines- 1D
Blue Lines- 4H
Market made a H&S Pattern and broke the strong zone and now doing retesting. Now we have to sit back and wait for market to break it Trendline of D1.
As we can see on AUD is 0.78% strong against USD and Total long positions right now 15365 with 77% Yet short percentage is 23% Only with 7482 Positions.
Hold your beers and wait for...
According to the published news and that the support level has lost 0.75300 in the last week. We expect the level to be low at 0.74000 .
And if after one day this level of support is lost, it will go down to the level of 0.70000, which of course is a very strong support level, which is likely to return and lower the correction.
If you have a better idea...
Technical Overview: - AUD/USD
Check out our previous posted analysis
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Our analysis is a sentiment for the upcoming week, month.
Use this as a weather forecast, you are the person that has to put on a jacket when it’s...