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Aussie

Pound vs. Aussie - The Next 3 Days Expectations - 19 April 2022FX:GBPAUD ranging in past two days without indication of power for continuation of uptrend. In the next couple of hours my expectations are for engulfing price-action with 50-60pips red candle. What is the supported thesis for the expected downfall and future uptrend on GBPAUD: - By Elliot waves price correcting at this moment with a target minimum of 50% - Range in swing high area and a hit of big resistance from higher time frames - MACD goes into negative territory and once dig for dipper correction will start attack in green teritory If you have any questions related to this trading idea I will be happy to provide you with answers.
Short
by TradingTie
Aussie Is Approaching Potential Resistance Ahead Of RBAHello traders! Today we will talk about Aussie (AUDUSD) in which we see slow price action and corrective wave structure since end of January that can be now approaching important and strong October 2021 highs resistance area ahead of important RBA. From Elliott Wave perspective, we are tracking a complex 7-swing A-B-C-X-A-B-C elliott wave corrective rally which can be nearing the end, as we see it trading in final stages of wave 5 of (C). The main reason can be a break out of wave 4 elliott wave triangle pattern that suggest final leg before a reversal. From technical point of view, we see it coming into important channel resistance line connected from the lows and interesting Fibonacci levels that can stop anywhere here in the 0.7550 - 0.7650 resistance zone. Trade well! If you like that we do, then please like and share our idea. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
by ew-forecast
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