Forex Trading Analysis
today is Tuesday, July 11th, 2023 I am going to analyze the AUD USD currency pair let us start the top to bottom Elite wave analysis inside the daily time frame the trend is down in AUD USD currency pair daily time frame resistance is present at the the 0.69 20 price level price action is most likely going to rise to print bullish wave B pullback after that I expect bearish with C corrective lag which is also going to complete higher degree bearish Wave Y double zigzag leg incoming trading days uh decisive bullish breakout above 0.69 20 resistance area is going to end downtrend in the daily chart of AUD USD currency pair next let us take a look at for our time frame price action is printing lower swing highs and lower swing lows to me AUD USD pair Trend looks down in four-hour time frame
Next, let us take a look at the one-hour time frame the trend is up in the one-hour chart intraday support is present at 0.635 94 price level price action is most likely going to rise to print a bullish Wave Y double zigzag lag which offers a chance to join an uptrend in AUD USD pair uh decisive pairs break below 0.635 94 support level is going to end up Trend in one hour chart of the Australian dollar versus United States dollar currency pair to be more specific the green color highlighted area offers a buying opportunity which is the previous wave a of one lesser degree do not jump into the market with the Buy trade wait for a bullish breakout first take note out you must always trade with money management rules to control risk
