Now we see that the AUDUSD moving in a channel, respecting it's borders, but we still do not know yet the real direction will be after this correction movement reaching the 23.6 % Fibo retracement.
If we need to continue with the elliott wave count, the correction wave (A) diagonal should break above wave (4), that condition did not happened yet, but we are waiting any break move to can draw the next lines finding the next movement direction.
according to the last CFTC date , the COT both long and short positions was decreased showing a less volatility, and that we are see now on the chart.
in the next move, in case that the market moving in an up trend, we could see the pair AUDUSD reaching the levels of (0.685).
while on the other side, we could reach (0.635).
be ready for the next move that will identify the next market direction in the medium term.
If we need to continue with the elliott wave count, the correction wave (A) diagonal should break above wave (4), that condition did not happened yet, but we are waiting any break move to can draw the next lines finding the next movement direction.
according to the last CFTC date , the COT both long and short positions was decreased showing a less volatility, and that we are see now on the chart.
in the next move, in case that the market moving in an up trend, we could see the pair AUDUSD reaching the levels of (0.685).
while on the other side, we could reach (0.635).
be ready for the next move that will identify the next market direction in the medium term.
