empty
 
 
18.09.2012 12:48 PM
AUD/USD Wave Analysis for September 18, 2012

This image is no longer relevant

AUD/USD Elliott Wave
Since our last analysis the AUD/USD pair was trading in a downward move like we expected, developing final (C) wave (coloured orange)of the bigger E wave (coloured purple).Yesterday during the Asian session, we could observe a descending movement from 1.0556 towards the 1.0515 level. Therefore, during the European and New York sessions, this major pair continued trading in a bearish mood and the price reached a new 2 days low at 1.0455 level. At the moment, the AUD/USD pair is still trading in a downward move and we are expecting to see the price around 0.9824 level in the next few weeks. In accordance with our wave rules and taking into account that the wave E should retrace 61.8% of the wave C, we can define the potential targets with measuring C wave, with Take Profit 1 at 0.9974(50% of wave C) and Take Profit 2 at 0.9824 (61.8% of wave C). To reduce the risk, we can use invalidation at 1.0620 level as Stop Loss.
Support and Resistance
(S3) 1.0394 (S2) 1.0433 (S1) 1.0457 (PP) 1.0495 (R1) 1.0534 (R2) 1.0558 (R3) 1.0596
Trading Forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 1.0410 with Stop Loss 1.0620 ,Take Profit 1 at 0.9974 and Take Profit 2 at 0.9824 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