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Today i found that AUDUSD moving inside this downward channel and it looks like it is following the Elliott Wave theory.
So we will jump into counting the wave.
I am planning to sell this pair as it...
AUD/USD appears to have found some support near the 100-day ema level.
Besides, 0.70 key level will also offer strong support.
So, as long as price stays above the 100-day EMA, AUD/USD can reach
0.72 once again.
I would be looking to buy near the 0.7060 level to keep the risk low.
After a drop to 0.7 important support, AudUsd is in recovery and is going towards 0.71 strong sell zone.
I expect this resistance to hold and Aussie to resume its downtrend.
I'm looking to sell this pair above 0.71
We can clearly see an M formation on the daily chart and we can expect the market to go and test the neckline of M formation sometime soon. But right now the AUDUSD chart is very bearish and the cotdata also added a lot of short on AUD. So the market can break the daily support and continue even lower. It will be foolish to take a long right now. To take the long...
If it rejects the bottom red line, I reckon AUD will climb to the "Potential Weekly Target" zone.
- Fed Chair Powell Speaks
- RBA Assist Gov Kent Speaks
- AUD Monetary Policy Meeting Minutes
- US Unemployment Claims
- US CB Leading Index
- US Flash Manufacturing PMI
- Trump-Breaking News
AUDUSD is position at price @ 0.7324 for a bull run . This is a short term analysis.
Overall, we should expect a pullback of price around @ 0.7324 and 0.7333 and if the price closes below @ 0.7333 then our move will be short to the downside with target price @ 0.7207 and @ 0.7197
I am bullish until the price reaches @ 0.7324
Good Luck Traders.
Dear friends, in my previous AUD/USD analysis, I told you to sell at 0.7240
which was the descending trend line resistance( previous idea attached below).
As you can see, AUD/USD dropped exactly from that level I mentioned and gave
use very good profits.
Dear friends, in my previous AUD/USD idea(attached below), I told you about
selling at 0.7240 at the descending trendline resistance.
As you can see, AUD/USD reversed nicely from the resistance level.
However, there may be much more drop left.
A strong break below the 0.7160 level would lead to more downside.
So, as long as price stays below the trend line...
I reckon as long as it stays below the upper channel line, AUD will fall at least to potential targets 1 and 2, maybe below.
- US CPI
- US PPI
- RBA Gov Lowe Speaks
- AUD Job data
- US Sales data
- Trump breaking news
the content on this analysis is subject to change at any time without notice and is provided for the sole purpose of assisting traders to make independent investment decisions. this is not signal. it's my opinion. trade your own risk. and Must Follow Money...