AUDUSD EXPECTATIONS

Tendency: Uptrend ( Bullish )
Structure: Breakout | Elliott Wave | Trendline
Observation: i. Reversal of the long impulse down begins with the invitation of the Motive phase indicated with wave 1, 2 on the chart.
ii. Breakout of resistance trendline (red) coinciding with the break of resistance zone @ 0.69500 isemphatic (indicated on chart with blue circle).
iii. Looking forward to resistance @ 0.69500 zone becoming a support.
iv. Price action above Moving Averages.
Trading plan: BUY with potential profit @ 800pips.
Risk/Reward: 1/6
Potential Duration: 15 to 25 days

** Please note that Stop Loss/risk-reward ratio is subject to individual risk appetite per trade and account size.

Watch this space or Telegram channel for updates on lower time frames as price action is been monitored.


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