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Although aussie has recovered after finding support at 1.0149 on Monday and test of the Ichimoku cloud bottom (now at 1.0291) is likely, a daily close above the Tenkan-Sen (now at 1.0311) is needed to remove downside risk, suggesting a temporary low is formed, bring a stronger rebound to the Kijun-Sen (now at 1.0387) but only breach of the upper Kumo (now at 1.0405) would confirm the fall from 1.0625 has ended and bring a stronger rebound to resistance at 1.0474 but price should falter below 1.0519
AUD/USD Elliott Wave Analysis
Aussie’s retreat from 1.0625 turned out to be stronger-than-expected and the breach of previous support at 1.0165 signals top has been formed at 1.0625 and downside risk remains for retracement of recent rise from 0.9581 to 1.0103 (50% Fibonacci retracement of 0.9581-1.0625) and possibly towards 1.0050-55, however, still reckon psychological support at 1.0000 would limit downside and previous support at 0.9969 would hold from here, bring rebound later.
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-I believe that the level of 1.0270 ... 1.0160 is very important and the couple were able to play a little bit went to the top ... and whether the final turn with the direction of 1.0600, I think a lot will depend on how to behave in the price of 1.0160, ... but then again at 4 hourly chart shows that the trend is mostly down, and now dual rollback, so it is very likely that we will again fall ..... personally, I lean that will fall .![]()
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The point at which it could be argued to form a new northern trend can be considered 0280 as to prevent the growth of a pair of 200 sliding and horizontal level of 0270, only at strengthening them up I will move the position.
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On the daily chart the pair is clearly seen by the side channel, there was a retreat from its lower border-horizontal level of 0163, now is the formation of the northern wave, which I think will last a few days and perhaps that of weeks.
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First resistance level 0245 pair could be overcome, but it remains (for further growth and to purchase) and wait for a break level of 0272, as growth may hinder further 200 moving average.
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The Australian dollar rose against its U.S. counterpart on Wednesday, after upbeat Australian consumer sentiment data, although global growth concerns continued to weigh on market sentiment.
AUD/USD hit 1.0237 during European morning trade, the daily high; the pair subsequently consolidated at 1.0239, rising 0.32%.
The pair was likely to find support at 1.0150, the low of October 8 and resistance at 1.0300, the high of September 2.
In a report, the Westpac Banking Corporation said that consumer sentiment in Australia rose 1% in October, after a 1.60% inrease the previous month.
Meanwhile, sentiment remained under pressure after the International Monetary Fund cut global economic growth forecasts for 2012 and 2013 on Tuesday, justifying the recent round of central bank stimulus which aimed to support to the world's fragile economies.
Earlier in the day, the IMF said the crisis in the euro zone remains the greatest threat to the global economy and warned that policymakers need to urgently strengthen fiscal and financial ties within the euro area.
Markets were also jittery amid uncertainty over when Spain will request a sovereign bailout and when Greece will agree with its international lenders on terms for the next tranche of funds.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
our analysis equally well, different style but the same standards and goals, I also removed a potential buy for figures habits range 212, 217 terkonfirm umpteen number of pips up, if h1 is a bullish candle means an indication of 1% candle valid in combination with scenarios range habbits
# Potential buy scenario
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