Current pivot point: 1,0317.
Overview:
AUD/USD's turbulent rise from 1.0275 has extended further to as high as 1.0333 yesterday and closed below it, the price went above 61.8% of Fibonacci retracement levels. It should also be noted that the price had formed a strong support at 1.0275, Furthermore; this strong level has still been trapped between 61.8% of Fibonacci retracement levels and 100% in the H4 chart. So the market may soon start showing bullish signs again and indicate a bullish opportunity at the level of 1.0333 with the first target of 1.0417 and continue towards 1.0525. Meanwhile, bulls were forced to pull back below the level of 1.0532 (61.8% Fibonacci extension), therefore this level will form a strong resistance and indicate a bearish opportunity below the resistance, hence it will a good sign to sell below 1.0532 with a target at 1.0455 and it might resume to 1.0380.
Intraday technical levels:
R3: 1.0446
R2: 1.0409
R1: 1.0354
S1: 1.0262
S2: 1.0225
S3: 1.0170
Note:
Volatility: 95.01, therefore the market indicates the higher volatility.
Volatility Formula: Variation = Average * (Higher - Lower).
It should be noted that the relation between the volatility and the market movements lies in:
So, let's say you did not close your position after 3H:15M, so after each 15 minutes the volatility will decrease "Volatility - (Volatility * 40 / 100)". If you wait more, the trend can go against you at any moment.
If you have any questions or requests, please feel free to contact me: mourad.elkeddani@analytics.instaforex.com.
