AUD/USD: wave analysis
14 May 2018, 09:44
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 0.7548 |
| Take Profit | 0.7341, 0.7262 |
| Stop Loss | 0.7601 |
| Key Levels | 0.7262, 0.7341, 0.7601, 0.7640, 0.7680 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 0.7610 |
| Take Profit | 0.7640, 0.7680 |
| Stop Loss | 0.7580 |
| Key Levels | 0.7262, 0.7341, 0.7601, 0.7640, 0.7680 |
The price в the correction, the fall is possible.
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 local correction (ii) of iii, which has taken the shape of an irregular flat, is ending. If the assumption is correct, the pair will fall to the levels of 0.7341–0.7262. The level of 0.7601 is critical and stop-loss for this scenario.
Main scenario
Short positions will become relevant below the level of 0.7601 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 0.7601 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 local correction (ii) of iii, which has taken the shape of an irregular flat, is ending. If the assumption is correct, the pair will fall to the levels of 0.7341–0.7262. The level of 0.7601 is critical and stop-loss for this scenario.
Main scenario
Short positions will become relevant below the level of 0.7601 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 0.7601 will let the pair grow to the levels of 0.7640–0.7680.
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