AUD/USD: wave analysis
14 September 2017, 08:52
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 0.7996 |
| Take Profit | 0.8200 |
| Stop Loss | 0.7930 |
| Key Levels | 0.7750, 0.7872, 0.8200 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 0.7865 |
| Take Profit | 0.7750 |
| Stop Loss | 0.7925 |
| Key Levels | 0.7750, 0.7872, 0.8200 |
The pair can grow.
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) is developing as a final diagonal triangle, within which the correctional wave iv of (v) is ending. If the assumption is correct, the pair will grow to the level of 0.8200. The level of 0.7872 is critical for this scenario.
Main scenario
Long positions can be opened during the correction, above the level of 0.7872 with the target at 0.8200.
Alternative scenario
The breakdown and the consolidation of the price below the level of 0.7872 will let the pair go down to the level of 0.7750.
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) is developing as a final diagonal triangle, within which the correctional wave iv of (v) is ending. If the assumption is correct, the pair will grow to the level of 0.8200. The level of 0.7872 is critical for this scenario.
Main scenario
Long positions can be opened during the correction, above the level of 0.7872 with the target at 0.8200.
Alternative scenario
The breakdown and the consolidation of the price below the level of 0.7872 will let the pair go down to the level of 0.7750.
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