BLUEWHALE TRADING'S
AUD USD FORECAST
AUD USD LATEST ANALYSIS
Based on the AUD USD pair, we can see that it has formed a XABCD pattern and has ended at the right corner of the chart about a day ago. From the point of D, it started to go for a long ride toward the resistance line drawn in the chart.
From this chart, we can predict that this pair will seek for a resistance level across the trendline and then will retrace till 50 % to 60% percent of fibonacci level which is the support zone of the pair.
If a breakdown happends accross the upper level trendline (resistance level) , and it'll be a long bullish movement and will continue till the next resistance level.
Keep an eye on NFP news effect. Could be a breakout.!!!
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