Condizioni di trading
Strumenti
AUD/USD is moving within impulse wave C (colored red in the chart) from 1.0624 that is part of wave A of larger degree (colored royal blue in the chart) from 1.0771. Now the targets of the downmove are Fibonacci retracements of 0.9928-1.0771, 1.0315-1.0771, and expansions off 1.0771-1.0502-1.0624.
Supports:
- 1.0489 = .618 retracement, reached already (!)
- 1.0458-49 = confluence area of contracted objective point (COP) and .382 ret
- 1.0355-50 = confluence area of objective point (OP) and .50 ret
If the price reverses to the upside the immediate resistances will be Fibonacci retracements of 1.0771-1.0486.
Resistances:
- 1.0629 = .50 ret
- 1.0662 = .618 ret
Overbought/Oversold
Assuming that the medium term trend is down it's preferable to try short positions when the Detrended Oscillator goes above the zero level (current prices) or gets into the overbought area (current prices).
Read more on how to apply Fibonacci studies to calculate price targets.
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