The bearish trend is present in AUD/USD currency pair, 15 minutes time frame based on AUD/USD Elliott Wave Forecast. As I have forecasted few hours ago, the price of AUD/USD pair is going to drop now on a short-term basis to prints a Bearish Impulse wave Elliott 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 resistance level is present at 0.7729 price area which is the most originating point of bearish wave (i) leg. In my judgment, price action in AUD/USD currency pair is now going to drop more to print a Bearish Impulse wave (iii) leg. So, market is going to remain bearish to complete the Bearish Impulse Elliott wave pattern which looks in-complete. Based on Elliott wave analysis, the current bearish price action is part of a bearish wave 5 Impulse wave leg in higher degree Elliott wave pattern.
Currently, Bearish Impulse Elliott wave (iii) leg looks in-complete. So, a good idea is to look for a possible sell trading chance to join the down trend around 0.7673 price area. However; if the price of AUD/USD currency pair breaks above 0.7729 vital resistance level then down 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 Elliott wave analysis in fifteen minutes chart.
If you are a trader who prefer to use robots and EAs to automate your trades and make them very profitable for you or require very good forex/stock training resources, please check this page.
Now, at this point; I must acknowledge that the trend is also bearish in higher time frame of AUD/USD currency pair.
? Want to make money automatically with Forex, Bitcoin and other Cryptocurrencies, Commodities etc without the risk of trading yourself? Are you ready for self-custody of your investment funds? Do you like the sound of regular consistent results and profitable performance? Tired of the forex and crypto scams, false promises and games out there designed to separate you from your hard earned funds? Stop everything! WorldMarkets is for you! With the WorldMarkets AI Managed Account Services, only YOU are in control of your investment funds. WorldMarkets is a trading platform that uses artificial intelligence to handpick highly profitable and low-risk trades for its users. It also goes ahead to trade for you based on analyzed data. And yea, you guessed right, “it almost never loses”. This is indeed the holy grail of trading. It is much more reliable and profitable than paying gurus to trade for you, mulling over candle sticks or playing the luck game. Using this system, investors and traders have recorded over 30% Returns on Investment in less than a month. And with a 100% compound return, you simply cannot lose with WorldMarkets. All you have to do is sit back, manage your funds and let the AI trade for you. Are you ready to start making aggressive profits regardless of the market’s direction? If you are ready to leave the trading to the professionals and upgrade your monthly income, now is the time, head to WorldMarkets now and choose a plan to start trading. PS: WorldMarkets is a Profitable Forex/Crypto AI Managed Trading Service. 100% Verified and Recommended by Valforex.com.
Below is the 4 hours chart of AUD/USD pair with my Elliott wave analysis which shows us a big picture and a well started bearish trend as well.
To me; price is trying to complete the Bearish Impulse Elliott wave pattern. The bearish wave 5 leg is the last and final decline as price is going to prints a bottom after that. Within the Bearish Impulse wave pattern, all sub-waves must sub-divides into 5, 3, 5, 3 and 5 waves Elliott pattern.
The following Elliott Wave Impulse pattern diagram shows us a completed Bearish Impulse wave wave leg within the frame work of Elliott wave principle.
Based on my AUD/USD Elliott Wave Forecast in 4 hours chart, we have got an in-complete Bearish Impulse wave 5. Now, price is probably going to falls more lower to complete the bearish wave 5 leg. To me; in fifteen minutes chart of AUD/USD currency pair the bullish leg in price action is just a pull back in a down trend as mentioned above as Bullish Zig Zag leg inside a 15 minutes price chart.
Strong key resistance level is present at 0.7896 in AUD/USD four hours chart. So, I expect market to falls down more now to complete the bearish wave 5 leg. So, in my opinion market is going to remain sideways and then resume the down trend in AUD/USD currency pair, in 4 hours chart.
However; price should stays below 0.7896 resistance area in 4 hours time frame to keep the down trend alive. A clear bullish break out in price action above 0.7896 resistance area will end the down trend and in such a market scenario, it would be best not to trade the market and re-analyze AUD/USD 4 hours chart.
Based on AUD/USD Elliott Wave Forecast the trend is down in 4 hours chart and a good idea is to look for a sell trade around 0.7650 price area, as price is going to drop more towards 0.7600 but a clear bullish break out in price action above 0.7896 vital resistance area will end the down trend. On a short term basis, it is again a bearish trend in AUD/USD 15 minutes time frame and a good idea is to take a sell trade around 0.7673 price level and price is probably going to drop towards 0.7650 price level. However; if the price of AUD/USD currency pair breaks above 0.7729 vital resistance level then bearish trend is going to end. We recommend trading with these top-rated brokers when using our signals/analyses/forecasts as they handle your trades quicker and more efficiently with very low spreads and most of them have high trade execution rate.
Help Us Fight Scams. Please Donate to Support Our Work. No Amount is too Little or too Big. Thank You..
February 8, 2019 By Ghazanfar
The phrase ‘Necessity is the mother of invention’ seems true for Iran. This is because Iran has unveiled its own...
February 8, 2019 By Ghazanfar
In spite of long bear market, Bitcoin transactions per day are increasing. Today the level of these transactions has touched...
February 4, 2019 By Ghazanfar
Although bear market in crypto world is extending, yet many fiat currencies are facing the threat of destabilization. This is...
February 4, 2019 By Ghazanfar
In spite of mix signals from the cryptocurrency world about the future of cryptocurrencies, many countries are planning to test...
February 3, 2019 By Ghazanfar
The idea of Bitcoin adoption as an international currency is not at all new. Over the years, many financial experts...
February 2, 2019 By Ghazanfar
Bitcoin’s entry into the longest ever bear market in history is one of the most burning issues of today. The...
Valforex.com will not be 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. Trading Forex, Binary options and Cryptocurrencies involve high-risk and are not suitable for all investors. Online trading in general, 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