empty
 
 
20.07.2012 12:37 PM
AUD/USD Wave Analysis July 20, 2012

This image is no longer relevant

AUD/USD Elliott Wave
Since our last analysis the AUD/USD pair was trading in an upward move developing impulsive wave (3) (coloured pink). Yesterday during the European session we could observe an ascending movement towards the 1.0444 level and we can consider this move as the end of the (3) wave. Therefore, during the New York session the AUD/USD pair did not manage to hold this level and price fell back to 1.0400 level. At the moment the price is testing 1.0395 level and we are expecting to see the price around 1.0500 today. In accordance with our wave rules and taking into account that the wave 5 retraces 100% of the wave 1, we can define the potential targets by measuring 1 wave with Take Profit 1 at 1.0518(127.2% of wave 1) and Take Profit 2 at 1.0595(161.8% of wave 1). Support at 1.03640 point can be used as Stop Loss.
Support and Resistance
(S3) 1.0321 (S2) 1.0354 (S1) 1.0375 (PP) 1.0409 (R1) 1.0442 (R2) 1.0463 (R3) 1.0497
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movement. That is why long positions at level 1.0430 with Stop Loss 1.0345 Take Profit 1 at 1.0518 and Take Profit 2 at 1.0595 are recommended.

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $1000 más!
    ¡En Febrero, sorteamos $1000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback