DECKING THE CHART: AUDUSD shows sign of bullishness
Updated
Hello Traders,
Trust you are doing great.
Allow me to show you my decked chart of AUDUSD.
From a technical standpoint, if the resistance is broken to the upside, we can expect the price to rise initially to 0.68034, indicating a gradual buildup of buying momentum. Should this momentum continue, the price may rally to 0.68374 and then to 0.68944.
Looking at the Elliott Wave perspective, it seems that we are in wave 4, anticipating a 5-impulse wave of a lower degree to the upside in wave 5. This assumption gains further credibility if the price surpasses the 0.6786 region. However, it's important to note that this EW perspective will no longer hold if the price violates the 0.6700 zone.
On the whole, I expect bullish move on the AUDUSD pair.
Trust you are doing great.
Allow me to show you my decked chart of AUDUSD.
From a technical standpoint, if the resistance is broken to the upside, we can expect the price to rise initially to 0.68034, indicating a gradual buildup of buying momentum. Should this momentum continue, the price may rally to 0.68374 and then to 0.68944.
Looking at the Elliott Wave perspective, it seems that we are in wave 4, anticipating a 5-impulse wave of a lower degree to the upside in wave 5. This assumption gains further credibility if the price surpasses the 0.6786 region. However, it's important to note that this EW perspective will no longer hold if the price violates the 0.6700 zone.
On the whole, I expect bullish move on the AUDUSD pair.
Note
First Target hit
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