The AUD/USD made a break below the 21 ema after a lengthy ride above it. Price is now testing that 21 ema zone as a resistance. Will price break or bounce?
Price Charts and Technical Analysis
The AUD/USD showed a strong bearish daily candle yesterday. But overall, the long-term trend remains bullish and eventually a bullish breakout is expected. If price action does break below bottom (blue box), then a push lower to test those long-term MAs (second blue box) is likely. We do expect a bullish bounce there. A break below that zone would make the bullish outlook less likely (red x). Otherwise a wave 4 (purple) remains the key pattern for the moment and a breakout increases the chance of a wave 5.
The 4 hour chart has seen multiple lower lows and lower highs. Price will first need to confirm a higher low before a reversal back up becomes probable. A breakout above the resistance box (orange) and trend lines (purple) would solidify the control of the bulls. The main question remains whether price is developing an ABC or 123 wave pattern but this will depend on how far price pushes up. A push into the red circle is typical for a wave C whereas a move above that makes a wave 3 more likely.
Reprinted from Fxempire，the copyright all reserved by the original author.
免責事項：本記事で述べられている見解は著者の見解のみであり、Followmeの公式見解を反映するものではありません。Followmeは、提供された情報の正確性、完全性、信頼性について一切責任を負いません。また、書面で明示的に記載されている場合を除き、本記事の内容に基づいて行われたいかなる行動についても責任を負いません。
古いコメントはありません。ソファをつかむ最初のものになりましょう。