InvestMate🦘 AUD/USD What's Next? 🦘
🦘 AUD/USD What's Next?
🦘 Nearest strong support zone: around the 0.382 fibo level of the downward wave.
🦘 Nearest strong resistance zone: around recent peaks.
🦘 Technical environment:
📊 Moving averages: 50/50
📊 MACD: Downtrend
📊 RSI: 50/50
🦘 Price action: AUD/USD Started its downward correction of the uptrend on February 2, which is currently all of -3.28% from the peak. All indications are that we are going to fall to the fibo 0.382 level of the upward wave where there is a strong support zone. Looking at how pivotal this level has been in the past, it represents a potential turning point for the price and the start of a continuation of the prevailing long-term uptrend.
📉 The scenario I am playing out is a continuation of declines to the vicinity of the support level, after which I expect the uptrend to continue. I do not exclude changing the scenario in case of a sudden change in the market situation. I am aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and carefully read the description.
🚀 If you appreciate my work and effort put into this post, I encourage you to leave a like and follow on my profile. 🚀
🦘 Nearest strong support zone: around the 0.382 fibo level of the downward wave.
🦘 Nearest strong resistance zone: around recent peaks.
🦘 Technical environment:
📊 Moving averages: 50/50
📊 MACD: Downtrend
📊 RSI: 50/50
🦘 Price action: AUD/USD Started its downward correction of the uptrend on February 2, which is currently all of -3.28% from the peak. All indications are that we are going to fall to the fibo 0.382 level of the upward wave where there is a strong support zone. Looking at how pivotal this level has been in the past, it represents a potential turning point for the price and the start of a continuation of the prevailing long-term uptrend.
📉 The scenario I am playing out is a continuation of declines to the vicinity of the support level, after which I expect the uptrend to continue. I do not exclude changing the scenario in case of a sudden change in the market situation. I am aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and carefully read the description.
🚀 If you appreciate my work and effort put into this post, I encourage you to leave a like and follow on my profile. 🚀
Note
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💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
💲 t.me/Investmatez 💲
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💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
💲 t.me/Investmatez 💲
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.