Estimated reading time: 3 minutes
The bullish trend is present in AUD/USD currency pair, 15 minutes time frame based on AUD/USD Forecast today. As I have forecasted few hours ago, the price of AUD/USD pair is going to drop now on a short-term basis to print bearish Zig Zag Elliott wave pattern and traders should look for a sell trade. So, all those Forex traders who have followed my analysis have made the right decision as price has descended.
Strong key support level is present at 0.7744 price area where the Bullish wave (i) has ended. In my judgment, price action in AUD/USD currency pair is now going to rise up few more pips to complete the bullish wave (v) impulse Elliott Wave leg. Based on Elliott wave analysis, the upcoming Bullish Impulse wave (v) is going to be the resumption of an up trend. So, I expect the market to resume an up-trend as bearish wave (iv) Zig Zag pattern has almost completed.
Currently, Bullish Impulse wave (v) looks in-complete. So, we should look for a possible buy trading chance at 0.7804 price area to join an up-trend. However; if the price of AUD/USD currency pair breaks below 0.7744 vital support level then up trend is going to end. In such a market scenario, it would be best not to trade the Forex market and re-do the AUD/USD Forecast today in fifteen minutes chart.
Now, at this point; I must acknowledge that the trend is also bullish in higher time frame of AUD/USD currency pair.
Below is the 4 hours chart of AUD/USD pair with AUD/USD Forecast today which shows us a big picture and a nice up trend as well.
NB: Interested In Trading Bitcoin And Other Cryptocurrencies for Profit? Now, You Can Trade Better, Faster and Smarter for More Profits With Ready to Use "High Performance" and Approved Verified Robot. With This Software, You Are Not Only Able to Auto-trade Bitcoin and Other Cryptocurrencies Profitably, You Can Also Invest in them or Other Newer Cryptocurrencies. You're Given a Dedicated Account Manager After You Fund Your Account Who Will Help You With the Best Settings and Strategies To Get the Most Out of Your Investment. Click the Banner Below To Register Now:
Note: If your language is not English, you should use the language dropdown menu at the top right hand side of their page to select your language.
To me; price is printing a Bullish Impulse Wave 5 Elliott Wave pattern in 4 hours chart. Now, market is moving up to complete the last and final bullish leg – Wave 5.
The following Elliott Wave Bullish Impulse pattern diagram shows us a completed bullish 1, 2, 3, 4 and 5 waves leg within the frame work of Elliott wave principle.
Based on my AUD/USD Forecast today, we have got an incomplete Bullish wave 5 leg in AUD/USD currency pair, 4 hours time frame. Now, price is probably going to rise up more to complete the bullish wave 5 impulse leg. To me; the bearish decline in price action was just a bearish pull back as mentioned above in fifteen minutes chart of AUD/USD pair. Strong key support level is present at 0.7711 in AUD/USD four hours chart.
So, I expect market to rise up more now to complete the Bullish Impulse Wave 5 Elliott wave pattern. So, in my opinion market is going to resume an up trend in AUD/USD currency pair, time frame is 4 hours chart.
However; price should stays above 0.7711 support area in 4 hours time frame to keep the up trend alive. A clear bearish break down in price action below 0.7711 vital support area will end the up trend and in such a market scenario, it would be best not to trade the market and re-analyze the AUD/USD 4 hours chart.
Based on AUD/USD Forecast today the trend is up in 4 hours chart and a good idea is to look for a buy trade around 0.7840 price area, as price is going to rise towards 0.7900 but a clear break down in price action below 0.7711 vital support area will end the up trend. On a short term basis, it is again a bullish trend in AUD/USD 15 minutes time frame and a good idea is to take a Buy trade around 0.7804 price level and price is probably going to rise up towards 0.7835 area. However; if the price of AUD/USD currency pair breaks below 0.7744 vital support level then bullish trend is going to end. Forex traders who don’t have a broker yet or wish to go with a broker that works well then click here.
Help Us Fight Scams. Please Donate to Support Our Work. No Amount is too Little or too Big. Thank You..
August 23, 2017 By Warren
Some social media users have been blasting and trolling Meir Barak of Tradenet because he said in one of his...
June 7, 2017 By Warren
Is Forex School Online going to really teach you the right skills needed to make money from the markets? We...
June 6, 2017 By Warren
The word ''Forex'' is an intriguing phrase for most people. That alone makes the Forex market a healthy breeding ground...
June 6, 2017 By Warren
Traders Elite (traderselite.com) is a scam that claims to have the secret of identifying the exact millisecond to enter and...
June 4, 2017 By Warren
The Forex market is a lucrative place to be. However, it is also a conducive environment where scams like Super...
Valforex.com cannot be held liable for any damages incurred due to the usage of any information displayed on this website. The information and trading guides found on the website constitute the authors’ opinion only. Both Forex and Binary options involve high-risk and are not suitable for all investors. Either Forex or Binary options may not be legal in your jurisdiction. It’s visitors’ responsibility to make sure these entities are legal in their jurisdiction before engaging in trading activity… Read More
NB: You won’t see this offer again.