AUD/USD – 1.0063
Recent: Wave 5 stopped at 0.9389 failed 5 and large patch pending
Trend: down
Original strategy:
Purchased 1.0015, Target: 1.0195, Stop: 0.9970
New strategy:
Exit far into the 1.0015
Although the Australian dollar has increased after the holding of yesterday's low at 0.9997 and initial consolidation of this level would take place, wide strength in the dollar suggest upside would be restricted to 1.0100 and risk is seen for another fall to said support, would break the signal a temporary up may have formed on the 1.0183 and retracement of the recent upmove to 0.990.
Against this background, we conclude our long position is set at 1.0015 and set aside in the meantime. Above 1.0100 would lead to another test of the resistance at 1.0183 but break there is a need to signal gain has been resumed and expand profit in less wave (v) of v 1.0200 (1236 times projection of 0.7920 to 0.233,000 measurement from 0.8770) and possibly 1.0239 (1618 times projection of 0.6 to 0.8 8315 233,000 measurement from 0.8770) that are likely to keep from here.
Our desired number on the 4-hour chart is that the transition from 0.7920 is wave 5: 0.8860, ii: 0.8315, iii: 0.233,000, iv: 0.8770 and wave against would extend a more cause 1.0235/40.
On the bigger picture, the large increase from 0.6007 is wave (b) and the single wave iii wave (c) have stopped at 0.9407, followed by wave 4 at 0.7920 and wave 5 already reached the destination indicated on the upside in the psychological level at 1.0000, enumerate, and would be limited to 1.0200 (1236 times projection of 0.7920 to 0.233,000 measurement from 0.8770).
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