AUDUSD, Massive Double-Bottom To Complete, Solid Potentials!
Updated
Hello,
Welcome to this analysis about AUDUSD on the 4-hour timeframe perspectives. As I detected AUDUSD in recent times is showing up with a considerable formation that has a high likelihood to move into a great opportunity with solid potentials. Therefore as when looking at my chart we can watch there how AUDUSD moved on to build up above the 0.7 level and form a double bottom formation above this level now already bouncing several times in the range and forming the first bottom as well as the second bottom. Furthermore, AUDUSD manages to hold up above the 300-EMA as well as the 65-EMA and form a local triangle-formation above these zones. For now, there is a high possibility given that AUDUSD stays above this area and continues to build up above the main support-base marked with the blue box in my chart, in this support-base there are coming several supports together and increasing the possibility for a bounce in this zone especially as the point-of-control support determined by the most volume in the volume profile marked in red in my chart is holding up the whole bullishness in this range. Once AUDUSD manages to settle above the neckline as shown in my chart the whole double bottom formation will be completed and AUDUSD will activate the double bottom target zones. Once the final targets as marked in my chart have been reached the situation needs to be elevated again and AUDUSD needs to show how it continues from there on, for now, the whole double bottom formation has great ability to complete and point to the further determinations.
In this manner, thank you for watching the analysis, all the best!
"The high destiny of the market is to explicate, rather than to speculate."
Information provided is only educational and should not be used to take action in the markets.
Welcome to this analysis about AUDUSD on the 4-hour timeframe perspectives. As I detected AUDUSD in recent times is showing up with a considerable formation that has a high likelihood to move into a great opportunity with solid potentials. Therefore as when looking at my chart we can watch there how AUDUSD moved on to build up above the 0.7 level and form a double bottom formation above this level now already bouncing several times in the range and forming the first bottom as well as the second bottom. Furthermore, AUDUSD manages to hold up above the 300-EMA as well as the 65-EMA and form a local triangle-formation above these zones. For now, there is a high possibility given that AUDUSD stays above this area and continues to build up above the main support-base marked with the blue box in my chart, in this support-base there are coming several supports together and increasing the possibility for a bounce in this zone especially as the point-of-control support determined by the most volume in the volume profile marked in red in my chart is holding up the whole bullishness in this range. Once AUDUSD manages to settle above the neckline as shown in my chart the whole double bottom formation will be completed and AUDUSD will activate the double bottom target zones. Once the final targets as marked in my chart have been reached the situation needs to be elevated again and AUDUSD needs to show how it continues from there on, for now, the whole double bottom formation has great ability to complete and point to the further determinations.
In this manner, thank you for watching the analysis, all the best!
"The high destiny of the market is to explicate, rather than to speculate."
Information provided is only educational and should not be used to take action in the markets.
Note
ANALYSIS UPDATE: AUDUSD greatly completed the ascending triangle breakout formation to setup above the upper boundary and continue into the trend direction from there on.AUDUSD since completing the whole formational setup increased with strong volume and momentum reaching all of the final target zones.
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