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21.03.201916:07 Forex Analysis & Reviews: AUD/USD analysis for March 21, 2018

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

AUD/USD has been trading downwards. The price tested the level of 0.7127.

Exchange Rates 21.03.2019 analysis

According to the 5M time-frame price structure, we found that there are prospects for an upward movement since there is potential fifth point of the wolf's wave bullish pattern. The price of AUD/USD is expected to grow based on this pattern and the current market structure. The EPA (Estimated Price at Arrival) is seen at 0.7165.

Trading recommendation: We are long AUD on intraday prospective from 0.7130 with the target at 0.7165. Protective stop can be placed below 0.7115.

Petar Jacimovic
Analytical expert of InstaForex
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