In my analysis we can be on wave 5 of bearish trend
The completation of wave 3 major gave a pull back until 0.8 and now we are tested the support area 0,63
In COT the shorts position are more than longs and increased so there is possibilities for a new short trend.
In this case can be confirmed the final 5° wave of Major structure with a potential break of support area and continuation until 0,5
Be careful .. the AUD is a very risky asset
The completation of wave 3 major gave a pull back until 0.8 and now we are tested the support area 0,63
In COT the shorts position are more than longs and increased so there is possibilities for a new short trend.
In this case can be confirmed the final 5° wave of Major structure with a potential break of support area and continuation until 0,5
Be careful .. the AUD is a very risky asset
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.