We have seen consistent "LH & Lower Lows" form and our bias still remains bearish, we can see a clear break of the trend line but it is best to wait for a retest, this could easily become a false breakout. Resistance is set around "0.7700" and support between "0.7500 - 0.74500"
Pair now in sideways mode as we wait for the outcome of the Jackson hole meeting today.
While Elliot wave theory have many scenario to predict, evaluate and select, the chart pattern tell you only one thing. Here i will regard the triangle as classical pattern rather than one of elliot correction patterns. So once the upper or lower red line broke it signal of entry. Good luck
after the news...AUDUSD will start to rally downdward...it may spike on the way, but it will have to follow the PPP rules...
The near-term series of higher highs & lows inAUD/USDmay gather pace next week as the Reserve Bank of Australia (RBA) is widely anticipated to retain its current policy in September, while the regions 2Q Gross Domestic Product (GDP) report is projected to highlight the fastest pace of growth since 2012.
The pair have been going sideways for a few days now and looking for direction. At the moment I am in waiting mode.
SETTING UP FOR A POSSIBLE BULLISH MOVE NEXT WEEK. WHAT DO YOU THINK? ALSO VIEW THE WEEKLY CHART FOR CONFIRMATION. PEACE AND SUCCESS AS PATIENCE IS KEY IN THIS TRADING BUSINESS !!!!!!!
Origin of Demand Zone, Bullish Divergence www.FXMarketTimers.com
Downward channel/ bull flag. There is also a posibility of upward channel paly a rolle (dotted lines) but I would love to see the price on lower trend line.
Watch for bearish reversal PA!
Hello Traders, Here I have utilized the the Wolfe Wave, Geo's Off-Set Rule, and Fib clusters. Wolfe Wave - Within the Wolfe's 1-2 and 2-3 points you must look out for an ab=cd pattern which we clearly have stated here. Points 3-4 and 4-5 are less likely to have such patterns. In fact, as a WW trader, you want the 4-5 path to be carved out as smoothly as...
AUDUSD made a new high, I'm looking to enter a buy position on a pull back around 0.76650, near the ascending trend line and 38.2 fib level. Let me know your thoughts on this setup. Thanks. ** High impact China news at 10pm est may effect price action for this pair**
Hello Traders, Here we have 3 Wolfe Wave's(WW) WW #1 - In the grey dotted line. This WW is near it's target at #1 Geo Off-Set Rule at point 4. The Geo Off-Set Rule here plays a role in the next 2 WW's. WW #2 - In blue dashed lines. This WW is internal to both the first and third(in purple) WW's. The Geo Off-Set Rule in the first WW act's as a point of reversal...
AUDNZD – Aussie/Kiwi could continue to push higher The AUDNZD has shown strength recently as we can see in the charts below. You will notice first on the monthly chart that an inside pin bar buy signal has formed from 1.0500 support following several months of consolidation. If bulls remain in control, we could see price continue to break higher from this setup...