In sharp contrast to my recent idea on EURAUD, because of its negative correlation to AUDUSD, if price gets to my resistance trendline and holds, i look forward to see a price decline. Probabilities. Lets see
AUD/USD started to rise from the support trendline. And it's made the Elliott wave pattern on the daily time frame. After the ABC correction, now it's trying to hit 0.7660 - 0.7700 - 0.7800 .
But what if it breaks the support trendline?
If it starts to fall, the targets will be 0.7400 - 0.7360 .
Welcome traders to a free analysis breakdown.
Today I am highlighting possible trade ares on AUDUSD, if you any questions on the pair let me know in the comment section below.
Once the pair gives us a valid trade entry I will be sharing the trade with the Alpha community, I hope you all found this breakdown helpful .
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The above chart is an incremental trend, in which I have applied the Elliott wave pattern to get the levels. At the end of the major support, it's making an ascending triangle . That, I have described in detail in the above chart.
The trend is crossing the upper trendline of the triangle. It will fall from around 0.7300 . If there will be a situation of...
AUDUSD is trading consistently on an uptrend and in channel pattern, as you can see in the chart. At the current level, it will face resistance which is minor resistance 1. We might see a minor pullback from the current level and then further upside in AUDUSD.
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and huge gain
we have booked.
China economy 80% back
to recovery and Aussie export largely depends on Chinese sector.
WE HAD REACHED OUR TP-1 & TP-2
Next week can cross 0.65 to 0.67
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AUDUSD is forming an ascending triangle in upward trend. It will be an interesting price action in AUDUSD pair. If AUDUSD breaks the ascending triangle on upside, we might see further trend continuation till resistance level (as mentioned in chart). If it breaks on downside we might see small pull towards trendline support as first small target. If it breaks...
AUDUSD is trading in falling wedge resistance line for shorter term trade. One can trade on short side with falling wedge as stoploss and target will be the support line of the falling wedge. The long term trend in AUDUSD is on downside.
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