Aussie dollar touched 0.55, ambitious bear target.
While many see it going even lower we are setting a target around 0.625, which we expect to hit after a few days of consolidation at current levels.
Let us know your opinion on the AUD in the comments below.
On this pair we got both targets by the end of last week. Price respected exactly our zones giving out good opportunities.
From our prospective the price will retest the yellow zone, probably pushing even higher than the previous high.
we'll watch this pair closely during the week, looking for formation to upside around the neckline N.
Comment below what's your...
In case of a Gartley price is set to go Up from this level targeting 1.618% of XAX presenting the opportunity for a nice 100% return.
We are still holding on our previous view expecting the price to fall between the 6600 - 7300 levels where we expect formation to the upside.
Euro gaining a bit of strength since the end of September.
From our technical prospective if the resistance N is going to be fully broken we are expecting it to become support aiming the yellow zone where from our opinion we'll se some serious sell off.
Aussie dollar fell towards 0.6672 after rates cut, where it found strong support and closing above a significant level suggesting a possible validation of the ABCD. With the weakening of the US dollar and the market giving a 73% chance of rates cut at the end of the month we wouldn't be surprised to see the AUD rallying towards the 0.695 level. Something to keep...
Aussie dollar rejected a strong support level.
Can the bulls push it higher?
Aussie dollar has a strong downward tendency from a multi-timeframe analysis.
Rejected a strong support at 61.8 fib indicating possible ABCD
Let's watch for formations.
As probably many expected bitcoin has retraced into a very nice support level that suggests a possible buy.
From this level let's start watching for formations to the upside.
Here at LGE we are expecting the price to push well below the daily 200 MA before to start the next bull run.
note:
The picture is showing the weekly timeframe
With this formation, we would enter a long position at the retest of the neckline after it has been broken.
Our Stop Loss is going to be below the right shoulder at calculate percentage or 1.8 times ATR.
Our target is calculated by measuring the distance of the lower close of the head to the neckline.
80% of that distance between the head and the neckline is...
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