AUD/USD Look Ahead for week starting 11/24/19

The Aussie-Dollar has been in a long-term down turn since September of 2011 and a Bear Market going back to August of 2013. Price is trading below the 50 week ema which is below the 200 week ema which is trading below the 800 ema. The 50 week ema is pointed down. This is a currency pair to only trade from the short side. Price needs to be above the 50 ema, and the 50 ema to be pointing up before the pair can be considered to be in a Bear Market Rally. Price is channeling nicely between trend lines and long term is targeting the Grand Super Cycle A-Wave bottom at .60093 to complete the C-Wave.

The Pair is in a Bear Market on the daily, with price below the 50 ema, which is below the 200, which is below the 800 ema. This is clearly a down-trend with Lower Lows and Lower Highs. Sell Offs are steep, and Rallies are weak and shallow. We really need to see both of those things to reverse to get Bullish on this pair. For now, Rallies are also being effectively contained by the down-trend line and the 200 ema.

The Pair is in a clear-cut Bear Market with price below the 50 below the 200 below the 800 ema on the four-hour. The pair is selling off from a level 1 consolidation and should sell down towards the lower, long-term down trend line in two more pushes, with an intervening consolidation. Next week should be a steady down-trend. I would need to see price to break above the 50 ema before I got bullish on this pair at all…

This is my AUD/USD look ahead for my own trading purposes. FOREX trading involves risk. Feel free to comment, but trade off of this post at your own peril.