Skip to main content

Forecast for AUD/USD on August 30, 2019

AUD/USD

For four days of decline, the Australian dollar has come a short way from the Fibonacci level of 23.6% on the daily chart to support the embedded line of the red price channel on a monthly scale (0.6710). The market’s first attempt to overcome this support was on August 7, but it was on an exhausted two-week movement, the second attempt was on August 26, now the third attempt, which is 80% statistically successful. The Marlin oscillator on the daily low is falling slightly, there is a reserve for medium-term decline. The first goal is to support the blue price channel in the region of 0.6650.

analytics5d68c11979e7d.png

On a four-hour chart, the price falls below the lines of balance (red indicator) and MACD (blue indicator), the Marlin decreases after a reversal from the boundary with the growth territory.

analytics5d68c12ee2523.png

The material has been provided by InstaForex Company - www.instaforex.com
via Forecast for AUD/USD on August 30, 2019
Labels:

Comments

Post a Comment

Popular posts from this blog

GBPUSD up and down. Back down testing 61.8% and swing area.

# GBPUSD tests 61.8% and swing area The GBPUSD is in an up and down day. The    GBPUSD  moved higher earlier. That move was helped by better than expected retail sales. However the high price today stalled near the high price from last week near 1.3643, and rotated back lower on the USD buying. The subsequent move lower now has the price back toward the 61.8% retracement along with a swing area between 1.35969 and 1.36034. As I type, the price has dipped below that swing area. What next? If the price can stay below the 1.36034 area, that would be the best case scenario for the sellers with the next major targets coming in at the 100 hour moving average 1.3569 (blue line), and the 200 hour moving average at 1.35609 (green line). The 50% midpoint of the 2022 trading range is just below those levels at 1.35526 and would be a another target on further weakness. A move back above 1.36034 with momentum would have traders looking again toward 1.3618 to 1.36271 and then t...
Post a Comment
Read more