AUDUSD remains bullish as bulls look to make a new high for the long-term trend above November 4th's high.
The AUDUSD daily shows that bulls have come close to testing November's high for the long-term trend but has failed to do so to date.
The 4 Hour AUDUSD continues to have prices in a buy zone above recent uptrendlines.
The recent rally in AUDUSD prices has given way to short-term resistance. A break below 1.0000 should imply that a more significant top is in place for a sustained downtrend.
The long-term trend for AUDUSD remains bullish though short-term price movement is consolidative.
Above inner uptrendline support, Aussie remains in the buy zone in the big picture.
Above inner-uptrendline support, AUDUSD remains bullish as it continues to make higher highs and lows on the 4 hour chart.
The short-term chart shows that an inner trendline has been broken though price remain bullish in relation to other uptrendline support. A break of support at 1.0080 implies that a more significant top will be in place.
The daily chart for AUDUSD has prices remaining in a buy zone above inner-uptrendline support. Only a move below this trendline on a sustained basis suggests that a move to the outer uptrendline is possible. This can also be confirmed on the 4 hour and 2 hour charts as well.
For now, buying bullish candlestick formations or bullish ABCD patterns remains preferred. My view will change if prices break into a sell-zone and crown one of the inner-uptrendlines.
AUDUSD prices have fallen through inner-uptrendline support into a sell-zone as can be seen on the daily chart. With uptrendlines also broken on the 2 hour chart, we look for resistance to form at levels as shown below.
AUDUSD prices have had another down day as they remain below the broken inner-uptrendline in a sell-zone as can be seen on the daily chart. I have projected likely areas of resistance for bounces down and support for a bounce up on the 2 hour chart as shown below.
Prices recently reacted and bounced off of inner-downtrendline resistance and remain in a sell-zone below this very trendline on the 4 hour.
Below current levels, we look for projected support at an outer uptrendline as shown. Otherwise, if the inner-uptrendline is broken or crowned, we will look for bullish opportunities for a new rally.
On the AUDUSD Daily time frame the bulls are in control. Making higher highs and higher lows and is in the buy zone of a really nice up trend line. Currently the market is pulling back bearish and giving a lot of great selling entries on the 60 minute time frame.
The reason the 60 minute time frame is in a down bearish trend is because the daily time frame is pulling back after scoring a bullish point and is now looking to form a low higher than the last low of 0.9533 . Start to look for the bulls to reverse the down trend line on the 60 minute time frame and the market to break into the buy zone.
AUD/USD Daily time frame has given us an Engulfing bullish candlestick formation. We are going to expect the pulls to take control and rally towards the north. Over all the daily time frame has an up ABCD swing with our A= 0.9329 B = 1.0182 C pull back at the .786 and our D extension expected to be the 1.27
On the 240 Minute time frame the market has all ready broken the down trend line and we have entered into the buy zone. We need to start looking for bullish candlestick formations to buy.
60 Minute time frame the AUD/USD is about to hit an up ABCD D extension with our A = 0.9641 B = 0.9922 C pull back at the .50 making our D extension the 1.618.
Wait for the pull back and look to buy the new up C.
AUD/USD Daily time frame we have an up A = 0.9329 B = 1.0182 C pull back at the .618 making our D exension the 1.618. Overall the market is in an up trend making higher highs and higher lows.
Currently the Daily time frame is testing an engulfing bullish candlestick formation.
4 Hour time frame has started to give us a bullish crown with A = 0.9803 B = 1.0019 and we are waiting on a bullish candlestick formation to buy the market.
Looking at the 60 Minute time frame we would like the market to break the down counter trend line and enter into the buy zone so we can look to buy the markets.
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