The AUD/USD has dropped to historical support levels zone 0.6890-0.6903. It needs a healthy retracemen to the upside.

0.6880 is the last chance for any bullish retracement on intraday timeframes. Unless it gets broken to the downside, bulls might try to get the price to the POC zone 0.6930-40 and 0.6660 if the bullish momentum persists and short traders close their trades. The interim range is 0.6890-0.6840. The price might reject from 0.6840 towards 0.6890 again if we see a retracement. If 0.6660 is reached then we might see a trend reversal and uptrend will start.

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The Wave Analysis it for today the most flexible, powerful and perspective tool which allows to predict tendencies which lead to certain changes on financial charts on all time pieces. One of properties of this tool is its insufficient formalisation, proceeding from it the opinion of the author of the forecast made on the basis of the Wave Analysis always is subjective. As the Wave Structure constantly varies, the forecast on the basis of the Wave Analysis reflects opinion of the author at the moment of the forecast publication. The Wave Analysis is not trading system. It not the generator of signals on the conclusion or an exit 1from the transaction, therefore the schematical direction of movement of the price put on the chart should not be for the trader the guide to action on opening of positions. In case of formation in the market of conditions which, according to the author it is possible to use for drawing up of the trading plan - on a chart levels of acknowledgement of the chosen scenario, optimum areas of an input and levels of cancellation of the chosen scenario will be specified in addition.

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