? AUD/USD Bullish ABC Zigzag Pattern Aims at 38.2% Fib ?

2 min read

Hi traders,

the AUD/USD seems ready for a bullish ABC zigzag pattern towards the Fibonacci levels of wave 4 (purple).

AUD/USD

4 hour

The AUD/USD seems to be building a bullish retracement within the downtrend as long as the price stays below the 50% Fibonacci retracement level.

1 hour

The AUD/USD seems to have completed 5 bullish waves within wave A (blue) and 3 bearish waves within wave B (blue). The bullish breakout above the resistance trend line (red) could indicate a confirmation of the zigzag pattern.

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Good trading,
Chris Svorcik Elite CurrenSea

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