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AUD/USD Potential Upward Movement

AUD/USD Long-Term Trend: Bullish

Key Resistance Levels: 0.71683, 0.71927, 0.72000.

Key Support Levels: 0.71188, 0.70876, 0.70500.

1-Hr Time Frame:

The price on the higher time frame is in a clear upward movement where it is bouncing inside a bullish channel formation. Higher highs and lows has been posted. The market left a correction count near the 0.7120 USD mark where a new bullish impulsive wave is expected in the coming hours.

AUD/USD Medium-Term Trend: Bullish

5-Mins Time Frame:

On the lower time frame, the price succeeded to break the bullish flag to the upside after finding bulls around the 50% Fibonacci retracement level. A lower correction could be seen to the highlighted zone before a new wave toward the target profits.

Signal Idea:

Buy Limit Order @ 0.71302

TP 1 @ 0.71683

TP 2 @ 0.71927

Stop Loss @ 0.71112

Trade Safely 🙂

In many cases we manually use market orders instead of pending orders to trade the trading ideas we send you. This is higher risk, and you can decide if it suits your trading style.

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.

4 comments

  1. When you sent this signal price was at 0.71450. It never went back down to 0.71302 so this trade never triggerd

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