AUDUSD. Medium-term and short-term forecast

Hello traders and investors!

I'll share the forecast I made in mid-March.
On the weekly chart, there's a sideways movement, with a bullish vector 5-6 targeting 0.69205.
On the daily chart, we also see a sideways movement, with a bullish vector 7-8 targeting 0.66345, 0.66676.
I'm awaiting price interaction with the daily targets to update the forecast.

For a more detailed explanation of how to read charts and consider different timeframes when looking for trades, you can refer to the article

Kommentera:

Just a reminder, on the daily timeframe, the price is in a sideways movement. Since the post was published, three vectors have been played out. The buyer's vector (7-8) reached 0.66345. You can see this target in the original post. Then, the seller reached 0.64426 (vectors 8-9). This price level is also mentioned in the original post as the boundary of the sideways movement at the time of publication. The last buyer's vector (9-10) also reached the mandatory target, and if we don't consider the weekly timeframe, we could start looking for sales with a target of 0.64446.

On the weekly timeframe, the last candle shows a weak seller (volume and spread). I assume that the buyer will be able to reach the upper boundary of the sideways movement at 0.66676. If the buyer manages to break through 0.66676 and defend this breakthrough, it will correspond to the initial forecast.