AUDUSD, Breakout Of Channel, Continuations Ahead!
Hello Traders Investor And Community, welcome to this analysis where we are looking at AUDUSD, the recent events, the current formational structure and what we can expect the next time. AUDUSD has formed a longer sideways-movement where it recently showed up with some important confirmations which I detected in the chart and which will prove worthwhile in further movement. AUDUSD has confirmed above the upper boundary of its established parallel channel and now confirmed it as a solid flag-formation, the next times will be crucial in fully confirming this formation to set up the ongoing targets in the right manner. Overall AUDUSD has established some good factors here playing into a solid confirmation and continuations further ahead in the structure when these confirmations show uprightly AUDUSD got the needed edge to follow up with the next movements ahead.
In my chart, you can see this huge ascending-channel where AUDUSD recently broke above the upper boundary with a strong volatile move confirming this channel to the upside, what happens often after such breakouts is a pull-back to the boundary to confirm the formation, in this case, you can watch the 35-EMA in green and the 100-EMA in red building up a logical support-cluster in the range together with the upper boundary of the channel, you can watch this cluster marked in orang in my chart, when AUDUSD reaches this level there is a high possibility given for a bounce up, in this mechanism it is highly important that AUDUSD does not fall below the 200- and 100-EMA again which can cause increased bearish pressure into the channel again and visit of lower levels in the structure where a new adjustment of the price is preliminary and should be expected.
When AUDUSD shows up with the more likely scenario and confirms the upper boundary and support-cluster bullish with a bounce the pair can be traded on the long-side, it is also possible to enter immediately nevertheless waiting on proper confirmation before coming in would be a better and wiser option here. After AUDUSD has confirmed the next movements we can expect it to reach the upper targets lying at the target zone marked in blue between the 0.7465 and 0.7446 level, when AUDUSD approaches this level it has to be elevated how it reacts in this range and if there can be an immediate continuation or firstly a pull-back to lower levels, as AUDUSD has resistance there which should not be ignored and traders taking profit the pull-back scenario after the targets are reached is within the possible range and can be elevated as a probable scenario.
In this manner, thank you for watching, support for more market insight, all the best!
"Science is organized knowledge. Wisdom is organized life."
Information provided is only educational and should not be used to take action in the markets.
In my chart, you can see this huge ascending-channel where AUDUSD recently broke above the upper boundary with a strong volatile move confirming this channel to the upside, what happens often after such breakouts is a pull-back to the boundary to confirm the formation, in this case, you can watch the 35-EMA in green and the 100-EMA in red building up a logical support-cluster in the range together with the upper boundary of the channel, you can watch this cluster marked in orang in my chart, when AUDUSD reaches this level there is a high possibility given for a bounce up, in this mechanism it is highly important that AUDUSD does not fall below the 200- and 100-EMA again which can cause increased bearish pressure into the channel again and visit of lower levels in the structure where a new adjustment of the price is preliminary and should be expected.
When AUDUSD shows up with the more likely scenario and confirms the upper boundary and support-cluster bullish with a bounce the pair can be traded on the long-side, it is also possible to enter immediately nevertheless waiting on proper confirmation before coming in would be a better and wiser option here. After AUDUSD has confirmed the next movements we can expect it to reach the upper targets lying at the target zone marked in blue between the 0.7465 and 0.7446 level, when AUDUSD approaches this level it has to be elevated how it reacts in this range and if there can be an immediate continuation or firstly a pull-back to lower levels, as AUDUSD has resistance there which should not be ignored and traders taking profit the pull-back scenario after the targets are reached is within the possible range and can be elevated as a probable scenario.
In this manner, thank you for watching, support for more market insight, all the best!
"Science is organized knowledge. Wisdom is organized life."
Information provided is only educational and should not be used to take action in the markets.
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