Hello There,

welcome to my analysis about AUDUSD. In recent times I have spotted interesting setups in the forex market. These setups have the potential to translate into worthwhile trading opportunities. Especially with an increased volatility, the potentials accelerate massively. With AUDUSD there is a potential trade on the short side determined, which will unfold its full potential when the technical signs confirm the underlying dynamic.

When looking at my chart, we can see there how AUDUSD is forming this massive descending channel formation. In this descending channel formation, AUDUSD has already bounced several times towards the downside from the descending resistance line. This resistance was the origin of several bearish waves towards the downside already several times. With AUDUSD approaching this line again, this is likely to be an origin of bearish pressure once again.

Furthermore, AUDUSD is forming this pivotal bear-flag formation. In this bear-flag formation, AUDUSD has already almost completed the wave count. The final wave C moved directly into the massive resistance cluster. From this massive resistance cluster, AUDUSD is setting the next bearish wave. Once the final breakdown below the lower boundary happened, as seen in my chart, the target zones will be activated. If AUDUSD accelerates the bearish dynamics, the second bear-flag target zone will be reached for sure.

In this manner, thank you a lot for watching!
The support is highly appreciated.

VP