AUDUSD
💡Don't miss the great sell opportunity in AUDUSDTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (0.7155). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. AUDUSD is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 40.
Take Profits:
TP1= @ 0.7100
TP2= @ 0.7070
TP3= @ 0.7020
SL: Break Above R2
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💡 Don't miss the great sell opportunity in AUDUSDTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (0.7195). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. AUDUSD is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 55.
Take Profits:
TP1= @ 0.7120
TP2= @ 0.7095
TP3= @ 0.7005
SL: Break Above R2
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Don't miss this sell opportunity in AUDUSDTrading suggestion:
". There is still a possibility of temporary retracement to suggested resistance line (0.7190).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. AUDUSD is in a range bound and the beginning of downtrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 50.
Take Profits:
TP1= @ 0.7134
TP2= @ 0.7076
TP3= @ 0.7005
TP4= @ 0.6971
TP5= @ 0.6920
SL: Break Above R2
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Don't miss the great sell opportunity in AUDUSDTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (0.7325). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. AUDUSD is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 50.
Take Profits:
TP1= @ 0.7265
TP2= @ 0.7240
TP3= @ 0.7190
SL: Break Above R2
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AUDUSD Analysis as per Wave Theory for Sorter Timeframe.
We know this is the WAVE 3 forming on the Higher Degree hence we know on Lower Degree we will get a 5 Wave Impulse structure; This is the Wave 1 of the WAVE 3 of Higher Degree, we clearly see that the 5 Wave Impulse structure is complete and hence new will have Correction, whenever there is a Correction formed the Price retraces till the latest Fresh Demand area and from that area the Financial Institutions will take the Price towards our Long Term Target in the Upward direction.
This is the Fresh Demand where the Financial Institutions have their unfilled orders and The Price will shoot once it reaches this Demand area, therefore we are expecting a downward move till this Demand; so for now we have a Downward Trend as per smaller timeframe.
Let's see further what structure we have for the Correction.
Before we proceed let's confirm that the Upward move is complete;
This picture confirms that the Upward Move is complete and now we have a Correction.
This is what we have after the completion of the Impulse
This is the Wave A of the Correction forming
Wave A complete
Now we have a Impulse complete Upward so the Correction will be downward hence Wave A (5 Wave down Impulse) will be downward; Wave B will be Upward ( 3 Wave structure ) and Wave C will again be Downward (either a 5 Wave downward Impulse or a 3 Wave downward structure);
So let's see Wave B (3 Wave structure) now;
Move for Short Term timeframe.
So we have first two Waves of the Wave B complete and now we will have an Upward Impulse as Wave C
AUDUSD analysed as per the Wave Theory.
We have a 5 Wave upward Impulse complete which is followed by a Correction which is a Flat. Hence this 5 Wave upward Impulse becomes a Wave 1 and the Flat structure becomes a Wave 2, both are complete and hence now we have The Wave 3 in the Long Term hence overall the Trend is Upward.
This Trade is for the Long Term Investors
Over a Decade and above we will see AUD becoming very stronger as compared to the USD.
AUDUSD longTrading suggestion:
There is a possibility of the uptrend. if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
AUDUSD is in a range bound and the beginning of uptrend is expected.
The RSI near 50.
Take Profits:
TP1= @ 0.74009
SL= 0.72454
Risk reward ratio = 1 : 3
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Don't miss the great sell opportunity in AUDUSDTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (0.7225). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. AUDUSD is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 55.
Take Profits:
TP1= @ 0.7170
TP2= @ 0.7135
TP3= @ 0.7110
SL: Break Above R2
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ForecastCity English Support Team ❤️
SHORT signal AUDUSD at 0.71610will go SHORT on AUDUSD because:
1) The price is forming a Chanel or Rectangle Pattern .
2) The price also broke the trend line .
3) The price is also under Support/Resistance zone.
4) It has touched the resistance.
5) Target would be the Support area . Book profit when it reaches the support zone .
ENTRY : 0.71610
FIRST TARGET : 0.71373
STOP LOSS : 0.71633
AUDUSD BUY areas , High Probability trade I will go LONG on AUDUSD because:
1) The price is under Support/Resistance zone.
2) It has touched the support and may reach the resistance zone .
3) Target would be the Resistance area . Book profit when it reaches the resistance zone .
4) The price is also forming a Chanel or Rectangle Pattern .
AUDUSD Waiting for break support Hi all thank you already want to click this scenario so in this scenario I discussed AUDUSD in the timeframe 4 hours here we can see that the rising wedge pattern is formed which means the price will be bearish but I do not advise to do direct sales but rather wait for price break support
AUDUSD . Weekly Technical Analysis UpdateMidterm forecast:
. 0.7030 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
. While the RSI support #1 at 51 is not broken, the probability of price decrease would be too low.
. A peak is formed in daily chart at 0.7176 on 07/22/2020, so more losses minimum to Major Support (0.7030) is expected.
. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
. Relative strength index (RSI) is 66.
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Trade well, ❤️
ForecastCity English Support Team ❤️