Home Forex Videos Forex Educational Library AUDUSD – Cycle Analysis and Forecast

AUDUSD – Cycle Analysis and Forecast

2
0

AUDUSD – Cycle Analysis and Forecast

The AUDUSD pair in daily chart is moving bearish as an A-B-C pattern, from the highest level reached on January 25 (0.81358 level). The segment BC developed a bullish divergence, which alerts us to the exhaustion of the bearish movement, this divergence is not a reversal signal. On the last sequence of the wave C, the price tested two times the 0.73179 level (FE 141.4 level).



In the 4-hour chart, the wave between B and C has fallen in five waves from 0.79163 to 0.73105 on July 02. From this level, the Aussie started an internal bullish move which reached the 0.74838 level, surpassing the previous high 0.74438 in time and shape. Currently, the price is moving in a range which could be the start of a new bullish cycle.



For the coming sessions, we foresee new upsides which could be activated as long as the price bounce from the area between 0.73562 and 0.73265, with a potential profit target area between 0.75382 and 0.75956. The invalidation level of this scenario is 0.73105.



LEAVE A REPLY

Please enter your comment!
Please enter your name here