AUD/USD: wave analysis
19 September 2017, 09:01
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 0.7980 |
| Take Profit | 0.7820, 0.7725 |
| Stop Loss | 0.8050 |
| Key Levels | 0.7725, 0.7820, 0.8122, 0.8300 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 0.8130 |
| Take Profit | 0.8300 |
| Stop Loss | 0.8060 |
| Key Levels | 0.7725, 0.7820, 0.8122, 0.8300 |
The pair is in correction.
On the four-hour chart, the formation of an upward momentum in the third wave iii of the upper level was supposedly completed. Locally, the development of a downward correction began as the fourth wave iv, within which a wave (a) of iv is forming. If the assumption is true, the pair will fall to the levels of 0.7820-0.7725. The level of 0.8122 is critical for this scenario.
Main scenario
Sell the pair during the correction, below the level of 0.8122 with a target in the range of 0.7820-0.7725.
Alternative scenario
Breakout of the level of 0.8122 will allow the pair to continue its growth to the level of 0.8300.
On the four-hour chart, the formation of an upward momentum in the third wave iii of the upper level was supposedly completed. Locally, the development of a downward correction began as the fourth wave iv, within which a wave (a) of iv is forming. If the assumption is true, the pair will fall to the levels of 0.7820-0.7725. The level of 0.8122 is critical for this scenario.
Main scenario
Sell the pair during the correction, below the level of 0.8122 with a target in the range of 0.7820-0.7725.
Alternative scenario
Breakout of the level of 0.8122 will allow the pair to continue its growth to the level of 0.8300.
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