Aussie was in a daily Downtrend started from 0.8000 at tops, made the first obvious bottom @ 0.7140, then a higher low @ 0.7235, which is confirmed by a Weekly doji after a down-move.
It should have finished Elliott's corrective A wave and its in the weekly Corrective B wave after an up-trend, which should be bullish targeting (0.7800 - 0 8000) ranges.
Bollinger Bands showing strengthening towards upside and trading in the lower channel in the beginning of a Daily Up-trend.
MA 55 showing some resistance @ 0.7320/40,
As well as MA 20 (same area approx.)
MACD is showing strengthening towards the upside, potential crossover is happening within (1 - 3 days).
Recommendation: (For Short to Medium-term Traders & Investors) * 1 - 3 Weeks *
Seek for Buying Opportunities
SL for 1st position @ 0.7215
TP for 1st position @ 0.7450 (For short-term traders)
SL for 2nd position @ 0.7095
TP for 2nd position @ 0.7690 (For med-term traders)
It should have finished Elliott's corrective A wave and its in the weekly Corrective B wave after an up-trend, which should be bullish targeting (0.7800 - 0 8000) ranges.
Bollinger Bands showing strengthening towards upside and trading in the lower channel in the beginning of a Daily Up-trend.
MA 55 showing some resistance @ 0.7320/40,
As well as MA 20 (same area approx.)
MACD is showing strengthening towards the upside, potential crossover is happening within (1 - 3 days).
Recommendation: (For Short to Medium-term Traders & Investors) * 1 - 3 Weeks *
Seek for Buying Opportunities
SL for 1st position @ 0.7215
TP for 1st position @ 0.7450 (For short-term traders)
SL for 2nd position @ 0.7095
TP for 2nd position @ 0.7690 (For med-term traders)