AUD/USD WEEKLY POSSIBLE MOVEMENT FORECAST.
1. FALSE BREAKING DOWN HAPPENED SEVERAL WEEKS BEFORE.
2. MIDDLE TERM TREND LINE HAS BROKEN.
3. LONG TERM TREND LINE GIVE A LOT OF SPACE TO RUN UNTIL NEXT TOUGH.
4. DOUBLE BOTTOM HAS ESTABLISHED.
5. RECENT MOVEMENT IS MOST LIKELY THE THE 1 WAVE.
NOW WHAT TO DO IS WAITING A RETRACEMENT TO THE BOTTOM, WHERE IS A GOOD OPPORTUNITY TO CATCH A UPWARD MOVEMENT FOR NEARLY 1000 PIPS.
TARGET IS 38.2% AS SHOW ABOVE. THIS ALSO DEPENDS ON WHEN WILL PRICE ENCOUNTER THE LONG TERM TREND LINE.
IF PRICE BREAK THE LOW AGAIN, ALL THE ANALYSIS MEAN NOTHING. BEST PRACTICE IS WAITING A WEEKLY CONFIRM BAR NEAR THE BOTTOM.
1. FALSE BREAKING DOWN HAPPENED SEVERAL WEEKS BEFORE.
2. MIDDLE TERM TREND LINE HAS BROKEN.
3. LONG TERM TREND LINE GIVE A LOT OF SPACE TO RUN UNTIL NEXT TOUGH.
4. DOUBLE BOTTOM HAS ESTABLISHED.
5. RECENT MOVEMENT IS MOST LIKELY THE THE 1 WAVE.
NOW WHAT TO DO IS WAITING A RETRACEMENT TO THE BOTTOM, WHERE IS A GOOD OPPORTUNITY TO CATCH A UPWARD MOVEMENT FOR NEARLY 1000 PIPS.
TARGET IS 38.2% AS SHOW ABOVE. THIS ALSO DEPENDS ON WHEN WILL PRICE ENCOUNTER THE LONG TERM TREND LINE.
IF PRICE BREAK THE LOW AGAIN, ALL THE ANALYSIS MEAN NOTHING. BEST PRACTICE IS WAITING A WEEKLY CONFIRM BAR NEAR THE BOTTOM.