AUD/USD: wave analysis
28 March 2018, 09:23
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 0.7684 |
| Take Profit | 0.7916, 0.8140 |
| Stop Loss | 0.7605 |
| Key Levels | 0.7537, 0.7670, 0.7916, 0.8140 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 0.7660 |
| Take Profit | 0.7537 |
| Stop Loss | 0.7720 |
| Key Levels | Key Levels 0.7537, 0.7670, 0.7916, 0.8140 |
The pair can grow.
On the 4-hour chart, the downward correction has formed as a second wave 2 of (3) of the higher level. Now the development of the wave 3 of (3) has begun, within which the first wave of the lower level i of (i) has formed, and the correction ii of (i) has ended. If the assumption is correct, the pair will grow to the levels of 0.7916–0.8140. The level of 0.7670 is critical for this scenario.
Main scenario
Long positions will become relevant above the level of 0.7670 with the targets at 0.7916–0.8140.
Alternative scenario
The breakdown and the consolidation of the price below the level of 0.7670 will let the pair go down to the level of 0.7537.
On the 4-hour chart, the downward correction has formed as a second wave 2 of (3) of the higher level. Now the development of the wave 3 of (3) has begun, within which the first wave of the lower level i of (i) has formed, and the correction ii of (i) has ended. If the assumption is correct, the pair will grow to the levels of 0.7916–0.8140. The level of 0.7670 is critical for this scenario.
Main scenario
Long positions will become relevant above the level of 0.7670 with the targets at 0.7916–0.8140.
Alternative scenario
The breakdown and the consolidation of the price below the level of 0.7670 will let the pair go down to the level of 0.7537.
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