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Jonny_Fortune

AUDUSD - Break Of Channel Triggers Long Opportunity

Long
Australian Dollar / U.S. Dollar (FX:AUDUSD)  
Jonny_Fortune  
FX:AUDUSD   Australian Dollar / U.S. Dollar
Trend Analysis Chart Patterns Wave Analysis aud USD AUDUSD Technical Analysis technical_analysis Forex audusdforecast
3
0
trendanalysis chartpattern waveanalysis aud usd audusd technicalanalysis technical_analysis forex audusdforecast
Price has been correcting the overall uptrend since the 1st of August with a channel to the downside. Last week we broke this channel and price is now consolidating above the counter trend channel with the possibility of an A,B,C corrective pattern being formed. Whether or not the C wave completes, price is indicating a possible resumption of the overall up trend and an impending rally in the AUDUSD to the key areas of resistance highlighted in the chart and possibly further given the size of the bullish primary trend.
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