empty
 
 
12.09.2012 01:40 PM
AUD/USD Weekly Wave Analysis

This image is no longer relevant

AUD/USD Elliott Wave
Since our last analysis the AUD/USD pair was trading in an upward move just as we expected, developing final corrective (C) wave (coloured blue) of the bigger wave (B) (coloured green). During the Asian and European sessions we could observe an ascending movement from 1.0320 towards the 1.0382 (new daily high) level. Therefore, during the New York session, the AUD/USD pair continued trading in a bullish mood and the price reached 1.0448 level. At the moment we can observe the end of the (B) wave (coloured green) and we are expecting to see the price lower for the next few days when the development of (C) wave (coloured green) starts. In accordance with our wave rules and taking into account that the wave C retraces 161.8% of the wave A, we can define the potential targets with Fibonacci extensions (1.0612-1.0166-1.0510) with Take Profit at 0.9807 (100% of wave A). Resistance at 1.0600 can be used as Stop Loss.
Support and Resistance
(S3) 1.0228 (S2) 1.0276 (S1) 1.0354 (PP) 1.0402 (R1) 1.0480 (R2) 1.0528 (R3) 1.0606
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at the level of 1.0450 with Stop Loss at 1.0600 and Take Profit at 0.9807 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 $10000 más!
    ¡En Enero, sorteamos $10000 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