AUDUSD. Medium-term and short-term forecast
Updated
Hello traders and investors!
I'll share the forecast I made in mid-March.
On the weekly chart, there's a sideways movement, with a bullish vector 5-6 targeting 0.69205.
On the daily chart, we also see a sideways movement, with a bullish vector 7-8 targeting 0.66345, 0.66676.
I'm awaiting price interaction with the daily targets to update the forecast.
For a more detailed explanation of how to read charts and consider different timeframes when looking for trades, you can refer to the article
I'll share the forecast I made in mid-March.
On the weekly chart, there's a sideways movement, with a bullish vector 5-6 targeting 0.69205.
On the daily chart, we also see a sideways movement, with a bullish vector 7-8 targeting 0.66345, 0.66676.
I'm awaiting price interaction with the daily targets to update the forecast.
For a more detailed explanation of how to read charts and consider different timeframes when looking for trades, you can refer to the article
Note
Just a reminder, on the daily timeframe, the price is in a sideways movement. Since the post was published, three vectors have been played out. The buyer's vector (7-8) reached 0.66345. You can see this target in the original post. Then, the seller reached 0.64426 (vectors 8-9). This price level is also mentioned in the original post as the boundary of the sideways movement at the time of publication. The last buyer's vector (9-10) also reached the mandatory target, and if we don't consider the weekly timeframe, we could start looking for sales with a target of 0.64446.On the weekly timeframe, the last candle shows a weak seller (volume and spread). I assume that the buyer will be able to reach the upper boundary of the sideways movement at 0.66676. If the buyer manages to break through 0.66676 and defend this breakthrough, it will correspond to the initial forecast.
Note
On the daily time frame (TF), the buyer reached the upper boundary of the range at 0.66676 but failed to defend a breakout above it. The seller pushed down the buyer's attack candle and formed a seller's zone (red rectangle on the chart). The current seller's vector is 10-11 with a target of 0.64446.On the 200-minute TF, there is a bullish trend. The last buyer's impulse started from the level of 0.65579. The price corrected to the 50% level of the last impulse, but the buyer's resumption showed no result. I assume the price will decrease to the starting level of the impulse at 0.65579. If the seller breaks through this level, the next seller's targets are 0.65 and 0.64446
Good luck with your trading!
t.me/user_friendly_trading
t.me/user_friendly_trading
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