Can the AUD continue its upward trend?Looking at the trend in the four-hour time frame, AUD/USD can rise to the resistance of the ceiling of the descending channel in the range of 0.6623 after the formation of the ANTI BAT harmonic pattern.
Audus
AUDUSD - Top Down AnalysisStarting with the 4hr chart above, we can see this pair made a strong push to the upside following this morning's US economic releases.
Manufacturing PMI - weaker than expected
Services PMI - weaker than expected
New Home Sales - - weaker than expected
Let's now take a look at the daily chart
== DAILY ==
With the daily timeframe we can see Stochastics in indicating a buy signal as the moving averages cross over in the oversold territory. MACD is also indicating less bearish momentum as the histogram turns pink from red. However for the bulls, the upside might be limited to the 200 SMA which nicely correlates with the descending level of resistance in the bearish channel.
Lastly, let's take a look the weekly view.
== WEEKLY ==
The weekly chart still shows this pair potentially wants to continue it's bear trend. However, as noted above, if we manage to break above the 200 SMA, expect this channel to break and cause a potential bullish rally to the upside.
That's it, that's all. Trade Safe
AUDUSD is pulling back to trendline, more upside ! AUDUSD is pulling back to trendline, more upside ! Thanks everyone for tuning in to today's analysis . If any part of this video is unclear, please ask me for in the comment section below. If you found today's video useful in any way, please "like" this video and leave a comment on what currency pair you'd like me to analyze next too.
sell audusdwe can see audusd in a rising wedge we can add a sell entry with a sl above the last candle wick. you can take this trade but its not a signal. just an anlysis and an explanation to what im going to do thanks. please like and motivate.
regards
[symbol="FX:AUDUSD"]FX:AUDUSD[/symbol]: bearish idea on M30!FX:AUDUSD :Short idea based on a harmonic pattern on the M30.
Kudos to:
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H.M. Gartley
Larry Pesavento
Scott Carney
