2016-07-13 09:05 (GMT+2) AUD/USD
Fall is expected.
Assumingly, formation of an upward correction as wave b of 2 which has got a bit more extended is nearing the end. At present, development of a diagonal as wave (c) of b seems to have finished, and if the assumption is correct, a fall towards 0.7140-0.7100 within wave c of 2 should be expected. Critical for this scenario is the level of 0.7658.
Trading Tips
Sell the pair form corrections, below the level of 0.7658 with the target at 0.7140-0.7100.
Alternative Scenario
The breakout and consolidation above the level of 0.7658 would allow the pair to grow to 0.7760-0.7800.
Assumingly, formation of an upward correction as wave b of 2 which has got a bit more extended is nearing the end. At present, development of a diagonal as wave (c) of b seems to have finished, and if the assumption is correct, a fall towards 0.7140-0.7100 within wave c of 2 should be expected. Critical for this scenario is the level of 0.7658.
Trading Tips
Sell the pair form corrections, below the level of 0.7658 with the target at 0.7140-0.7100.
Alternative Scenario
The breakout and consolidation above the level of 0.7658 would allow the pair to grow to 0.7760-0.7800.
Scenario
Timeframe | Weekly |
Recommendation | SELL |
Entry Point | 0.7588 |
Take Profit | 0.7140, 0.7100 |
Stop Loss | 0.7680 |
Key Levels | 0.7100, 0.7140, 0.7658, 0.7760, 0.7800 |
Alternative scenario
Recommendation | BUY STOP |
Entry Point | 0.7670 |
Take Profit | 0.7760, 0.7800 |
Stop Loss | 0.7570 |
Key Levels | 0.7100, 0.7140, 0.7658, 0.7760, 0.7800 |
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or via livechat.
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samer@hiwayfx.com
+40 734 277 757
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I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
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I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.