Elliott wave analysis of AUD/USD for December 23, 2020


The Aussie dollar has rallied nicely from the March 2020 low at 0.5506 and completed a five wave rally at 0.7414.-

After the wave 1 peak, we have seen wave A and B of an expanded flat correction and wave C has likely begun or will begin very soon for a decline towards 0.6822.

Short-term a break below 0.7458 will confirm that wave C is unfolding for the final decline in wave 2. If a final spike is made in wave B it could be close to of just above 0.7640 before tuning lower in wave C towards 0.6822.

Trading recommendation:

If you are long Sell near 0.7640 or use a protective stop+revers at 0.7458 for a decline to 0.6822


0 views0 comments

Recent Posts

See All

Credit 

Caution:

Trading involves the possibility of financial loss. Only trade with money that you are prepared to lose, you must recognize that for factors outside your control you may lose all of the money in your trading account. Many forex brokers also hold you liable for losses that exceed your trading capital. So you may stand to lose more money than is in your account. Smart Analysis Pvt takes not responsibility for loss incurred as a result of our trading signals. By signing up as a member you acknowledge that we are not providing financial advice and that you are making a the decision to copy our trades on your own account. We have no knowledge on the level of money you are trading with or the level of risk you are taking with each trade. You must make your own financial decisions, we take no responsibility for money made or lost as a result of our signals or advice on forex related products on this website.

PayPal

Credit  & Debit Card

  • Black Facebook Icon
  • Black Instagram Icon
  • Black YouTube Icon

© 2023 by Personal Life Coach. Proudly created with Wix.com