News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
AUD/USD-Watch for Intersection of Measured Level and Trendline Next Week

AUD/USD-Watch for Intersection of Measured Level and Trendline Next Week

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_aud-usd_body_audusd.png, AUD/USD-Watch for Intersection of Measured Level and Trendline Next Week

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Are you new to FX or curious about your trading IQ?

FOREXAnalysis: Extensions of the recent AUDUSD range project .9114 (161.8%) and .8984 (200%). .8984 is of particular interest due to participants’ obsession with big round figures. If/when the market approaches .9000, expect many to proclaim terrible things for AUDUSD if it breaks .9000. The level is also home to a steep downward sloping trendline. Near term, a 4th wave rally may carry to .9290-.9313 before the new lows are registered.

FOREXTrading Strategy: Flat

LEVELS: .8774 .8984 .9114 .9290 .9340 .9380

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES