Nov. 12th – AUDUSD

We are waiting for the Stochastic signal to look for long opportunities in this pair. In the smaller timeframes it has given some signals, however I am looking at the daily to prevent false signals. The stochastic on the daily has started to turn, but not yet there.
Looking at the intraday chart, we can see that the bottom limit of the channel keeps giving support to the pricing and it is moving along the channel. Price action has reached the 78% levels now and might be satisfied and we could see the reversal soon. I have added a possible count for the wave (C) where it looks to be finishing wave 5 as a ending diagonal. I have added the 25 minute chart here so we can have a better look at the possible inner labeling of wave (C).
It shouldn’t be too long before we get our signal to turn bullish on this pair.