Elliottwave Analysis: AUDUSD, sell at market, add at 0.7485

Yue Wang LinoCapital

AUDUSD closed below daily Ichimoku cloud.

For now short term, medium term and long term trend all point down.

From an Elliottwave perspective, further downside toward 0.7300/0.7298 could not be ruled out.

All these information could be translated into a strong sell signal.

Any bounce toward 0.7500 should be sold into against H4 upper bands.

Daily support levels: 0.7418 0.7410 0.7395

Daily resistance levels: 0.7466 0.7484 .7502

AUDUSD Trade Idea: (spot 0.7438)

①Sell @ markert SL 0.7565 Take Profit @ 0.7369

②Sell @ 0.7485 SL 0.7565 Take Profit @ 0.7369

Intraday Trade Idea:

Sell Latentinterest Order: 0.7466

Buy Latentinterest Order: 0.7395

Click on the image to enlarge

Author

Yue Wang

LinoCapital

Master's Degree in Hepatobiliary Surgery. 

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