AUDUSD long
For those who follow me for a longer period of time might remember me calling 0.81 to be fair value for AUDUSD according to my analysis. I think both technicals by means of structure as fundamentals suggest that this correction on the daily time frame is not over yet.
First let's have a look at the weekly chart for context:
Focusing on wave C on tells us several things. First of all; it seems like wave 1 of wave C was a leading diagonal and like I mentioned in my NZDUSD posts recently, a diagonal wave often comes with a Zig-Zag (ABC) correction. I believe we might see such a Zig-Zag (ABC) correction on the daily and 4 hour time frame. The question is whether this potential ABC is already over and therefore I prepared two scenario's on the lower time frames.
4hr bullish
4hr bearish
Key for both scenario's is that I expect either a retrace by means of a consolidation (bullish scenario) or a sharp reversal (bearish scenario) for a slightly lower low for wave C.
This is what I'm waiting for because although this is my bias (move to 0.81) I will wait for the market to confirm this to me.
Updates will follow:
timstuyts.com
First let's have a look at the weekly chart for context:
Focusing on wave C on tells us several things. First of all; it seems like wave 1 of wave C was a leading diagonal and like I mentioned in my NZDUSD posts recently, a diagonal wave often comes with a Zig-Zag (ABC) correction. I believe we might see such a Zig-Zag (ABC) correction on the daily and 4 hour time frame. The question is whether this potential ABC is already over and therefore I prepared two scenario's on the lower time frames.
4hr bullish
4hr bearish
Key for both scenario's is that I expect either a retrace by means of a consolidation (bullish scenario) or a sharp reversal (bearish scenario) for a slightly lower low for wave C.
This is what I'm waiting for because although this is my bias (move to 0.81) I will wait for the market to confirm this to me.
Updates will follow:
timstuyts.com
Bài đăng liên quan
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.