Forex Trading Analysis
Hello Guys today is Tuesday, July 30th, 2024 I am going to analyze AUD USD currency pair let us start the top to bottom Elliot wave analysis inside the daily time frame the trend is down in pullbacks currency pure daily time frame resistance is present at 0.6797 price level price action is most likely going to drop and then rise to print bullish wave B pull back after that I expect bearish wave C zigzag corrective leg incoming trading days decisive bullish breakout above 0.60790 7 resistance area is going to end downtrend in the daily chart of audusd currency pair
At 4hour time frame price action is printing lower swing highs into lower swing lows to me audusd pair Trend looks down in 4hour time frame
At 1-hour time frame, the trend is down in 1-hour chart, intraday resistance is present at 0.6644 price level price action is most likely going to drop to print bearish with 5 impulse leg which offers a chance to join the downtrend in audusd PA a decisive bullish breakout above 0.6644 resistance level is going to end the downtrend in 1-hour chart of Australian dollar versus United States dollar currency pair
More specifically the red color highlighted area offers a selling opportunity which is the previous fourth wave one lesser degree
