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AUDUSD still bearish #3

업데이트됨

New target to be defined by Fib ratios setup. We target AUDUSD will hit the yellow zone where bounded by a few fib ratios from retracement, extension and channel.

AUDUSD is currently hanging around at a critical S/R level that is measured by weekly chart. From the MACD indicator, we see a regular bullish divergence is forming, but not confirmed yet without a solid crossover. The price may or may not pullback to [0.7330].

Fibonacci Ratios may tell you some hints:

The first Fib Ret from 22 Oct 2008 low [0.6008] to 27 Jul 2011 [1.108]
We found a critical support coming up is [0.7092]

The second Fib Ret from 20 Jan 2016 low [0.6829] to 26 Jan 2018 high [0.8135]
we found a 161.8% [0.7108]

Then, Fib Ext (the pink one) which gives an overlap critical support at [0.73218] that overlaps the previous Fib Ret at 61.8% [0.73275]. That's why AUDUSD was stuck around that price in the last month. However, the next further support is at 161.8% [0.7104]

According to the financial news two days ago. Forecaster expected AUDUSD will hit 0.7000.
From this analysis, probably NOT.

노트

I don't know why there are some numbers missing, let me re-write the paragraphs again.

The first Fib Ret from 22 Oct 2008 low to 27 Jul 2011 high
We found a critical support coming up is 0.7092

The second Fib Ret from 20 Jan 2016 low to 26 Jan 2018 high
we found a 78.60% 0.71083

Then, Fib Ext (the pink one) which gives the next further support of Fib Ext at 161.8% 0.71040. When you watch carefully there are some overlapping levels. Fib Ext 127.2% overlaps the Fib Ret 61.8%. That's why AUDUSD held pretty tough at 0.7325 until it got a breakout few days earlier.

노트

As said before, the price just pullback to the blue upward trend line. Keep an eye if any strong bearish candle forming, then we go short.

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