AUD/USD: wave analysis
09 May 2018, 09:30
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 0.7426 |
| Take Profit | 0.7341, 0.7262 |
| Stop Loss | 0.7510 |
| Key Levels | 0.7262, 0.7341, 0.7560, 0.7640, 0.7680 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 0.7570 |
| Take Profit | 0.7640, 0.7680 |
| Stop Loss | 0.7510 |
| Key Levels | 0.7262, 0.7341, 0.7560, 0.7640, 0.7680 |
The trend is downward.
On the 4-hour chart, the downward trend is forming as a first wave 1 of (5) of the higher level. Now the third wave of the lower level iii of 1 is developing, within which the fall of the pair to the levels of 0.7341–0.7262 is expected.
Main scenario
Short positions will become relevant during the correction, below the level of 0.7560 with the targets at 0.7341–0.7262. Implementation period: 3–5 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 0.7560 will let the pair grow to the levels of 0.7640–0.7680.
On the 4-hour chart, the downward trend is forming as a first wave 1 of (5) of the higher level. Now the third wave of the lower level iii of 1 is developing, within which the fall of the pair to the levels of 0.7341–0.7262 is expected.
Main scenario
Short positions will become relevant during the correction, below the level of 0.7560 with the targets at 0.7341–0.7262. Implementation period: 3–5 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 0.7560 will let the pair grow to the levels of 0.7640–0.7680.
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