Audusdforecast
AUDUSD | Sell Opportunity. Get ready!If you find this technical analysis useful, please like & share our ideas with the community.
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Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
AUD/USD - DAILY TIME FRAME - SWING TRADE - SELL SET UPPoints to consider for Sell Set up:
Price has broken downwards from the DAILY BEARISH FLAG PATTERN.
Price is currently retesting the break of the flag pattern and also the daily Break of Structure (BOS) price region/zone, which is also Golden zone of Daily Fib Retracement (61.8% to 78.6%)
Price Rejection is observed on the Higher Time Frame (HTF)
Inverted hammer candle/Pin bar seen on the 4Hour Time frame.
BOS and retest observed on the 1H Time Frame.
Note: Plan Your Trade and Trade as per Your Plan
AUDUSD ANALYSIS ON H4 CHART.Overall, AUD/USD is ranging across.
The Australian employment data released yesterday indicated a slowdown in jobs creation and unemployment rate continued to decline in December.
Employment Change (Actual: 64.8K, Forecast: 60.0K, Previous: 366.1K)
Unemployment Rate (Actual: 4.2%, Forecast: 4.5%, Previous: 4.6%)
The Australian flash PMI data will be released next Monday at 0600 (GMT+8).
Flash Manufacturing PMI (Forecast: NA, Previous: 57.7 revised from 57.4)
Flash Services PMI (Forecast: NA, Previous: 55.1)
Currently, AUD/USD is testing to break below the key level of 0.72. Its next support zone is at 0.71000 and the next resistance zone is at 0.73000.
Look for short-term selling opportunities of AUD/USD if it breaks below the key level of 0.72.
AUDUSD: Inverse H&S with Leading diagonal with Third waveAfter falling near the level of 0.74800 AUDUSD has found its bottom near the level of 0.717000. If we observe carefully we can see an inverse Head & Shoulder pattern whose neckline has been broken decisively in today's session. From the perspective of Elliottwave analysis , we can see a Leading Diagonal & a three wave correction followed by a rally above the neckline. It clearly suggest that AUDUSD is rising in its third wave of an impulse 12345. The measured target of the Inverse H&S is coming about to be near the zone of 0.74200-0.74400 which can also be treated as a target for wave 3 .
Trading strategy:
As long as AUDUSD is maintaining above the level of 0.72270 , one should look for buying opportunity on any minor dip or on cmp for the target zone of 0.74100-0.74400.
AUDUSDAs I said last weeks ...as I said AU is in a very strong area where it has been in range for a few weeks ... but as long as it is on the trend line , I will keep the SELL idea until the 0.74990 area and from there ... I will reanalyze!
THIS WEEK...as I was saying since April 2021 ... AUDUSD went down and made the 800 pips we were talking about, reaching the 2nd target where it rejected strongly! (see red line)
in the next period I expect to see a range between zone 1 and zone 2 and only a closure even for 1 day below these zones will make me rethink the whole strategy! now I will wait to touch one of these areas and then I will decide an entry with BUY or SELL
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We also recommend avoiding short-term trades during this period because news can appear at any time that can destabilize the market.
*This information is not a Financial Advice.
AUDUSD Swing-Sell 100 Pips targetReason for selling AUDUSD
Fundamental factors are supporting the USD as the recent inflation figure beats the expectation 4.16% which causes the buying of USD against major pairs.
It has reached lower trendline area.Sell AUDUSD when it reaches around the .618 Fibonacci level and primary target would be 1.272 Fibonacci.
AUDUSD #audusd
Sell limit @ 0.77770
Take profit @ 0.76600
Stop lose @ 0.78200
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.