AUD/USD: wave analysis
02 April 2018, 09:28
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 0.7673 |
| Take Profit | 0.7916, 0.8140 |
| Stop Loss | 0.7590 |
| Key Levels | 0.7500, 0.7610, 0.7916, 0.8140 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 0.7600 |
| Take Profit | 0.7500 |
| Stop Loss | 0.7660 |
| Key Levels | 0.7500, 0.7610, 0.7916, 0.8140 |
The correction is ending.
On the 4-hour chart, the formation of the downward correction as a second wave 2 of (3) of the higher level is ending. Now the wave c of 2, within which a wedge is forming, is developing. If the assumption is correct, the pair will grow to the levels of 0.7916–0.8140 after the end it. The level of 0.7610 is critical for this scenario.
Main scenario
Long positions will become relevant after the end of the wave c of 2, above the level of 0.7610 with the targets at 0.7916–0.8140.
Alternative scenario
The breakdown and the consolidation of the price below the level of 0.7610 will let the pair go down to the level of 0.7500.
On the 4-hour chart, the formation of the downward correction as a second wave 2 of (3) of the higher level is ending. Now the wave c of 2, within which a wedge is forming, is developing. If the assumption is correct, the pair will grow to the levels of 0.7916–0.8140 after the end it. The level of 0.7610 is critical for this scenario.
Main scenario
Long positions will become relevant after the end of the wave c of 2, above the level of 0.7610 with the targets at 0.7916–0.8140.
Alternative scenario
The breakdown and the consolidation of the price below the level of 0.7610 will let the pair go down to the level of 0.7500.
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