Ultimate magazine theme for WordPress.
BTC
$62,177.53
+1.75%
ETH
$3,869.04
+0.48%
LTC
$185.79
-0.42%
DASH
$188.10
-1.72%
XMR
$262.35
-0.99%
NXT
$0.02
+1.75%
ETC
$53.19
-1.9%
DOGE
$0.24
+0.89%
ZEC
$139.20
+10.79%
BTS
$0.05
-0.72%
DGB
$0.05
-0.94%
XRP
$1.10
-2.83%
BTCD
$156.19
+1.75%
PPC
$0.94
+0.82%
CRAIG
$0.01
+1.75%
XBS
$2.29
0%
XPY
$0.01
0%
PRC
$0.00
0%
YBC
$2,300.00
0%
DANK
$0.02
+1.75%

Case building for further downside in days to come


  • AUD/USD bulls are moving in on the counter-trendline.
  • Bears are looking for a downside extension. 

AUD/USD is in consolidation following a strong correction into the daily counter-trendline. This is an area of confluence which could act as an area of strong resistance, leading to a downside extension in the days ahead. 

AUD/USD prior analysis

”The price is in need of a correction and the 38.2% Fibonacci is the first target that guards a slight confluence of prior lows and a 50% mean reversion. 

From an hourly perspective, this can be taken advantage of and bulls will be looking for a bullish structure to form in the coming sessions:”

AUD/USD live market update

The price has rallied to test the counter trendline in a 61.85 Fibonacci retracement which would be expected to act as firm resistance on subsequent restest. A downside extension would be expected for the days ahead. 

 

https://fbs.com/?ppk=forexplatform&lang=en

Source link

Comments are closed, but trackbacks and pingbacks are open.