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USD/JPY: the epidemiological situation in Japan is rapidly deteriorating 28 July 2022, 11:47

  USD/JPY: the epidemiological situation in Japan is rapidly deteriorating 28 July 2022, 11:47 Scenario Timeframe Weekly Reco...

Sep 11, 2017

AUD/USD: wave analysis 11 September 2017, 08:23

 


Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 0.8041
Take Profit 0.8200, 0.8300
Stop Loss 0.7980
Key Levels 0.7750, 0.7957, 0.8200, 0.8300
Alternative scenario
Recommendation SELL STOP
Entry Point 0.7950
Take Profit 0.7750
Stop Loss 0.8020
Key Levels 0.7750, 0.7957, 0.8200, 0.8300
The growth of the pair is expected.
On the 4-hour chart the upward momentum as a third wave of the higher level iii is forming. Locally the fifth wave of the lower level (v), within which the third wave iii of (v) is forming, is developing. If the assumption is correct, the pair will grow to the levels of 0.8200–0.8300. The level of 0.7957 is critical for this scenario.



Main scenario
Long positions can be opened during the correction, above the level of 0.7957 with the targets at 0.8200–0.8300.
Alternative scenario
The breakdown and the consolidation of the price below the level of 0.7957 will let the pair go down to the level of 0.7750.

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