AUDUSD - Intraday - We look to Sell at 0.7000 (stop at 0.7030)
Price action has formed an expanding wedge formation. The medium term bias remains bullish. A 5 wave bullish count has been completed at 0.7048. Expect trading to remain mixed and volatile. Intraday, and we are between bespoke support and resistance...
AUDUSD - Stalls close to the previous high. Look for a correction.
Weekly – Completes a bearish 5-wave count (Elliott Wave). Expanding wedge offers a long to medium term bullish bias.
Intraday – The three-hour chart looks to have completed a 5-wave count to the upside. Bespoke resistance is seen at 0.6997. We...
Third touch of the trendline
Fib golden pocket (61.8 - 71%)
Fib time zone (1.5 - 2)
Should see a nice short happening (intraday idea)
1. This profile is for educational purposes ONLY!
2. The setups given are my own perspective of the forex market and by no means require action!
3. Trading involves risk, past profits do not guarantee future...
AUDUSD was travelling following a descending trendline. It broke out above the trend line, came back to retest before making a higher high. This is all confirmation for a long opportunity. A further confirmation is the horizontal resistance zone marked out in a red rectangle that was just broken out of to the upside and retested before going back up.
Price has been ranging in a 70 pips zone for the past 2 weeks, what we have got to keep an eye on is a break out of this zone, if price breaks resistance then a nice bullish run could happen, and if price comes down and breaks support then a lovely bearish run could develop.
At the moment we are leaning towards price respecting this resistance and making a 70 pip...
AUDUSD has broken a major level of support and has already come back up to retest it, however before we think about short trade opportunities price must make a candle close below the yellow rectangle, once we do we will be entering short trades. Price may make a fake out, that's why we are waiting for the candle close below, price may still move upwards, break the...
AUDUSD was following a descending trendline marked out in the thick black line, we recently broke above this trend line and at the same time broke above a major resistannce zone. Price has come back down to retest the channel and the newly made support zone, now price is going to make its way up to the next resistance zone.
AUDUSD took a large market gap this week and it broke below the major support marked out by the pink rectangle. We expect price to come back up to retest this area at the 0.500 - 0.618 retracement level before dropping down to the -0.27 extension level which is where the bottom of the descending channel price is traveling in.
AUDUSD price has been travelling in a horizontal channel and a descending channel, the horizontal channel is marked out in pink rectangles and the descending channel is marked out in blue lines. Price recently dropped rapidly down to the bottom of the horizontal channel and on the daily chart a doji candle has been formed with a green candle next to it indicating...