The pair here is building the classic Elliot wave pattern. The uptrend is over, now the wave is in the 7th stage. When the wave starts making lower lows in the smaller timeframe then a short position can be made with a very good target.
audusd broke a daily trendline and the 4h is bouncing in a parallel channel ,if you get a opportunity , take an entry
The 4-hour right side is down against 12/31/2019 peak (0.7030). 1 hour is turning down against 0.6571 high. Near-term, while bounces fail below 0.6571 high and more importantly below 0.7030 high expect pair to extend lower.
HERE IS A GOOD BUYING OPPORTUNITY EMERGING AGAIN IN AUDUSD PAIR. IT'S BULLISH GUYS, WE CAN TAKE A LONG FROM HERE TO TARGET OF 0.65300 ANOTHER BULL RALLY WILL BE HAPPENING SOON. :)
The 30 min and 1hr trend is now broken and showing bullish momentum.We know see strength in the Australian dollar till daily key level 0.67000. Lets gooooooo!! STRICT STOPS AT SWING LOW AROUND 0.63500 AND TARGETS 0.67000
AUDUSD is going up for several days, now it just pull backed and reached a trendline and a support zone , can go for a buy
As long as it holds the newly created channel, it will likely to continue its up trend. Take short position only if the channel breaks.
The weekly right side is down against the 1/26/2018 highs at .8130. The daily right side is down against the .7029 highs from 12/31/19. While bounces fail below .6445 where the 4 & 1 hour are turning down the pair can continue to see weakness lower.
Third touch of the 1 hour trend line with a doji formation. Stochastic and Momentum Indicators are also over brought.
Trading suggestion: . There is still a possibility of temporary retracement to suggested resistance line (0.6370). 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...