Forecast for AUD/USD on August 12, 2019



On Friday, the Australian dollar managed to gain a foothold over the correction level of 23.6%, which creates the probability of continuing growth to the next correction level of 38.2% at the price of 0.6832. The signal line of the Marlin oscillator increases. Fixing above this level can develop a deeper correction of the “Australian” to 50.0%, in the area of 0.6892, to which the two lines of price channels converge.

As seen on the four-hour chart, the price fixed above the indicator lines of balance (red) and MACD (blue), the Marlin oscillator is also in the growth zone. Formally, of course, the price growth with the nearest target of 0.6832, but Marlin oscillator did not form any reversal formations at the time, they are not even on a half-hour scale, respectively, the current growth is short-term, and the consolidation of the price under the MACD line (0.6770) can return the Australian dollar to a falling channel. Downward targets: 0.6737 – the red line of the price channel, 0.6684 – the blue line of the price channel with a Fibonacci level of 0.0% (minimum August 7).


The material has been provided by InstaForex Company –

Source:: Forecast for AUD/USD on August 12, 2019

Won't your trader friends like this?
About the Author
InstaForex brand was created in 2007 and at the moment it’s a top choice of more than 2,000,000 traders. More than 1,000 clients open accounts with InstaForex every day. All InstaForex clients get great opportunities for effective trading on the forex market, as well as on-time technical and customer support

Related Posts

Leave a Reply