The market has completed five Elliott waves as of 0.6290. If it can obey Elliott wave principle, then we can expect to have a three waves corrective pattern, before continues with its uptrend.
Lets keep any eye on the pair, Good luck!
As of Elliott Wave Analysis, i can clearly see that AUDEUR has completed its 3rd Wave (Impulse) and Enters into 4th Wave (Correction wave), for the next week, towards 23.8% of Wave 3, and then the uptrend will continue toward completing the 5th waves structure. lets not jump into trade unless we have a confirmed entry and exists of a trade. Good luck!
This is a Australian Dollar index I created. I use these to help gage currency strength when looking for a pair to trade.
"Don’t blindly follow someone, follow the market and try to hear what it is telling you." - Jaymin Shah
This chart measures the average strength of the Australian dollar against the USD, GBP, JPY and EUR. After gaining significantly since November 2020, the Australian currency has been trading sideways against its major partners since the start of the month. Australia has benefited from a number of fundamental factors including a strong rebound from Covid, rising...
Potential Trade with 2 Entries
Waiting for a continuation move to then enter 2 Long Positions.
1- After retest of previous Structure Level. 2 After break of the High which was created with the continuation move!
The AUD basket has completed a nice pullback to the existing trendline off of the March and October swing lows on the Daily chart. The Aussie Dollar also bounced here at the 50 day SMA. There's a little bit of room to the previous high, and I expect the next area of resistance to be in the 0.8 area. Looking at this chart, I will be looking for a long opportunity...
Wait for clear forming inverted head and shoulder pattern now haven't any trade because support and resistance zone near. Keep mind once breakout support and resistance zone after trend continue momentum can entry. However, this is my opinion only
it looks like the market will drop down due to the highest high reaching the resistance from analyzing back testing , im looking for 300 + pips dropping. the support seems very weak which can easily break through good luck..