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AUD/USD Potential Upward Movement

AUD/USD Long-Term Trend: Bullish

Key Resistance Levels: 0.75307, 0.75446, 0.76000.

Key Support Levels: 0.75114, 0.74962, 0.74500.

1-Hr Chart:

The price on the higher time frame left a huge wick to the downside showing a sell climax and the buyers took control of the market. This was shown by a series of higher highs and lows until it broke the key resistance level (now support). A Correction has been seen to this area where we expect now a new impulsive wave toward the next key resistance level.

AUD/USD Medium-Term Trend: Bullish

5 Mins Chart:

On the lower time frame, the pair succeeded to break the bearish channel formation to the upside after posting a double bottom. A lower correction is expected to the support area before a new impulsive wave toward the target profits.

Signal Idea:

Buy Limit Order @ 0.75117

TP 1 @ 0.75283

TP 2 @ 0.75446

Stop Loss @ 0.75034

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

One comment

  1. Hi there, when usually the buy limit or sell limit not triggered? So I Can set the exparation of buy or sell limit at MT4… some times the signal canceled when i sleep (cause i lived in Indonesia)

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