The 30-minute chart of AUD/USD on FXCM displays a potential short opportunity following the completion of an impulsive wave (5). The pair is expected to enter a corrective phase, moving towards the wave (a) target level.
Key Levels:
Wave (a) Fibonacci Level:
0.618 (0.67281)
Traders could consider entering short positions aiming for the 0.618 Fibonacci retracement level, which is often a strong area of support during corrective waves. Stop losses might be placed above the recent highs to minimize risk.
Key Levels:
Wave (a) Fibonacci Level:
0.618 (0.67281)
Traders could consider entering short positions aiming for the 0.618 Fibonacci retracement level, which is often a strong area of support during corrective waves. Stop losses might be placed above the recent highs to minimize risk.
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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.
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.