AUD/USD: wave analysis
25 May 2018, 09:34
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 0.7558 |
| Take Profit | 0.7340 |
| Stop Loss | 0.7605 |
| Key Levels | 0.7340, 0.7605, 0.7642, 0.7680 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 0.7610 |
| Take Profit | 0.7642, 0.7680 |
| Stop Loss | 0.7580 |
| Key Levels | 0.7340, 0.7605, 0.7642, 0.7680 |
The price can fall.
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 has formed, and the local correction is forming as a wave iv of 1. If the assumption is correct, the pair will fall to the level of 0.7340. The level of 0.7605 is critical and stop-loss for this scenario.
Main scenario
Short positions will become relevant during the correction, below the level of 0.7605 with the target at 0.7340. Implementation period: 5–7 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 0.7605 will let the pair grow to the levels of 0.7642–0.7680.
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 has formed, and the local correction is forming as a wave iv of 1. If the assumption is correct, the pair will fall to the level of 0.7340. The level of 0.7605 is critical and stop-loss for this scenario.
Main scenario
Short positions will become relevant during the correction, below the level of 0.7605 with the target at 0.7340. Implementation period: 5–7 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 0.7605 will let the pair grow to the levels of 0.7642–0.7680.
No comments:
Write comments