Jump to content

Australian Dollar/U.S.Dollar (AUDUSD) Forex Elliott Wave Technical Analysis


Recommended Posts

Posted (edited)
AUDUSD Elliott Wave Analysis Trading Lounge Day Chart,
Australian Dollar/U.S.Dollar (AUDUSD) Day Chart
AUDUSD Elliott Wave Technical Analysis
FUNCTION: Trend
MODE: impulsive
STRUCTURE: navy blue wave 3
POSITION:gray wave 3
DIRECTION NEXT HIGHER  DEGREES: navy blue wave 3(started)
DETAILS: navy blue wave 2 looking completed at 0.65919, Now navy blue wave 3 is in play.
Wave Cancel invalid level: 0.63628
The AUDUSD Elliott Wave Analysis for the day chart focuses on the market's current trend using the Elliott Wave Theory. This analysis identifies and predicts movements in the Australian Dollar against the U.S. Dollar. The market trend is characterized as impulsive, indicating a strong and sustained movement in one direction.
 
The specific wave structure under analysis is navy blue wave 3, which is positioned within gray wave 3. This indicates that the market is experiencing an upward trend within a larger wave sequence. The completion of navy blue wave 2 has been observed at the level of 0.65919, signaling the end of a corrective phase and the beginning of navy blue wave 3. This phase is expected to continue the strong upward movement, suggesting further bullish momentum in the market.
 
The direction for the next higher degrees points towards navy blue wave 3, which has just started. This implies that the market is anticipated to maintain its upward trend for a significant period, reflecting the robust nature of the impulsive wave structure currently in play.
 
A crucial detail in this analysis is the wave cancel invalid level set at 0.63628. This level acts as a critical threshold that, if breached, would invalidate the current wave count and necessitate a reassessment of the wave structure. It is vital for the market to stay above this level to preserve the validity of the current Elliott Wave count and for the expected trends to unfold as anticipated.
 
In summary, the AUDUSD Elliott Wave Analysis on the day chart highlights a strong, impulsive trend within navy blue wave 3, following the completion of navy blue wave 2 at 0.65919. The market is projected to continue its upward momentum, with the wave cancel invalid level at 0.63628 serving as a key point for maintaining the current wave count's validity. This analysis provides valuable insights for traders using Elliott Wave Theory to guide their strategic decisions.
 
Forex24(1).thumb.png.1cc5f150348d933553485a84a7b221fa.png
 
AUDUSD Elliott Wave Analysis Trading Lounge 4 Hour Chart,
Australian Dollar/U.S.Dollar (AUDUSD) 4 Hour Chart
AUDUSD Elliott Wave Technical Analysis  
FUNCTION: Trend
MODE: impulsive
STRUCTURE: navy blue wave 3
POSITION: gray wave 3
DIRECTION NEXT HIGHER  DEGREES: navy blue wave 3(started)
DETAILS: navy blue wave 2 looking completed at 0.65919, Now navy blue wave 3 is in play.
Wave Cancel invalid level: 0.63628
The AUDUSD Elliott Wave Analysis for the day chart examines the market's current trend using the Elliott Wave Theory. This analysis focuses on identifying and predicting the movements of the Australian Dollar against the U.S. Dollar. The function of the market trend is characterized as impulsive, indicating a strong and sustained movement in a single direction.
 
The specific wave structure under analysis is navy blue wave 3, which is positioned within gray wave 3. This indicates that the market is experiencing an upward trend within a larger wave sequence. The completion of navy blue wave 2 has been observed at the level of 0.65919, signaling the end of a corrective phase and the beginning of navy blue wave 3. This phase typically continues the strong upward movement, suggesting further bullish momentum in the market.
 
The direction for the next higher degrees points towards navy blue wave 3, which has just started. This implies that the market is expected to maintain its upward trend for a significant period, reflecting the robust nature of the impulsive wave structure currently in play.
 
A crucial detail in this analysis is the wave cancel invalid level set at 0.65919. This level acts as a critical threshold that, if breached, would invalidate the current wave count and necessitate a reassessment of the wave structure. It is vital for the market to stay above
this level to preserve the validity of the current Elliott Wave count and for the expected trends to unfold as anticipated.
 
In summary, the AUDUSD Elliott Wave Analysis on the day chart highlights a strong, impulsive trend within navy blue wave 3, following the completion of navy blue wave 2 at 0.65919. The market is projected to continue its upward momentum, with the wave cancel invalid level at 0.65919 serving as a key point for maintaining the current wave count's validity. This analysis provides valuable insights for traders using Elliott Wave Theory to guide their strategic decisions.
Forex24.thumb.png.34776005f2d923c2bddd2451374d8a1a.png
 
Technical Analyst Malik Awais
Source Tradinglounge.com get trial here!
 
Edited by tradinglounge
Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • As more users embrace Dapp, it gets easier to trade crypto, engage in DeFi lending/borrowing and trade NFTs. With the growing need to trade NFT comes the introduction of Love Power Movement, a transparent and accessible marketplace with the best conditions for successful NFT sales. Although the NFT sector has recorded significant growth, it's still impeded by challenges like low protection of artists' and buyers' data, absence of organised policy protecting sellers and buyers amongst others. Love Power aims to tackle those by offering fixed commissions and royalties to creators, ensuring proper profit for sales. LPM token forming a crucial part of the ecosystem has been launched with no presale and VC investment, with intent to direct proceeds from token sales to NFT artists. As $LPM prepares to list on Bitget, the vast community of Love Power Movement would surely be watching keenly.
    • I missed out on NOTCOIN airdrop though i took advantage to buy it at $0.05 when it dipped and in a short while it rose back to $0.2. Made some decent gains there and I'm still holding. I will explore the giveaway to boost my NOTCOIN portfolio on the cex. Right now, my focus on the pre-market trading for hamster on Bitget, I want to make the best use of the Hamster airdrop I'm anticipating.
    • Dear @br864626, Please note that you can transfer shares from your employer's Share Incentive Plan (SIP) or Save As You Earn Scheme (SAYE) to an IG ISA, you will have to ask the provider to initiate the transfer. Thanks, KoketsoIG
×
×
  • Create New...
us