Home / Forex & Currency Exchange News / AUD/USD Potential Rejections Due To ZigZag Uptrend

AUD/USD Potential Rejections Due To ZigZag Uptrend

By Admiral Markets

The AUD/USD has been in a steady uptrend identified by confluence points (POC) rejections and an upward zig zag trend pattern. POC (trend line EMA 89, 50.0. D L4, ATR pivot, historical buyers) 0.7888-0.7900 is the zone where the AUD/USD could reject again towards W H4 0.7960 and D H4 -0.7980. The range on the AUD/USD is lower so when you take profits aim for 20-30 % of its ATR(14), also due to summer volatility. Break below 0.7860 will target lower levels as shown on the picture, but at this point the main trend is up.

Follow @TarantulaFX on twitter for latest market updates

Connect with Nenad Kerkez T on Facebook for latest market updates.

W L3 – Weekly Camarilla Pivot (Weekly Interim Support)

W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)

D H4 – Daily Camarilla Pivot (Very Strong Daily Resistance)

D L3 – Daily Camarilla Pivot (Daily Support)

D L4 – Daily H4 Camarilla (Very Strong Daily Support)

POC – Point Of Confluence (The zone where we expect price to react aka entry zone)

Article by Admiral Markets

Source: AUD/USD Potential Rejections Due To ZigZag Uptrend

Admiral Markets is a leading online provider, offering trading with Forex and CFDs on stocks, indices, precious metals and energy.

Click Here For Original Source Of The Article

About Louie Lewis

Louie Lewis
Successful forex trading starts with you first. Then comes the actual strategies and techniques. I have been involved with forex and forex trading for a few years now. It is a wonderful way to build wealth. The learning never stops and I want to help others along their journey into this wonderful market of opportunity.

Check Also

Comfortably Numb: Surviving the Assault on Silver

Comfortably Numb: Surviving the Assault on Silver

By The Gold Report Source: Michael Ballanger for Streetwise Reports   10/15/2017 Precious metals expert Michael Ballanger discusses the current state of the precious metals markets. In the late 1960s and most of the 1970s, an English rock band named Pink Floyd dominated the world of progressive and psychedelic music with such memorable albums as “Dark […]

Leave a Reply

Your email address will not be published. Required fields are marked *