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USD/JPY: the epidemiological situation in Japan is rapidly deteriorating 28 July 2022, 11:47

  USD/JPY: the epidemiological situation in Japan is rapidly deteriorating 28 July 2022, 11:47 Scenario Timeframe Weekly Reco...

Aug 9, 2018

AUD/USD: wave analysis 09 August 2018, 09:40

 


Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 0.7433
Take Profit 0.7540
Stop Loss 0.7347
Key Levels 0.7250, 0.7347, 0.7540
Alternative scenario
Recommendation SELL STOP
Entry Point 0.7340
Take Profit 0.7250
Stop Loss 0.7370
Key Levels 0.7250, 0.7347, 0.7540
The pair can grow.
On the 4-hour chart, the upward correction of the higher level develops as a wave 2 of (5). Now the wave w of 2 is developing as a flat (a)(b)(c), within which the wave (c) of w is forming. If the assumption is correct, the pair will grow to the level of 0.7540. The level of 0.7347 is critical and stop loss for this scenario.


Main scenario
Long positions will become relevant during the correction, above the level of 0.7347 with the target at 0.7540. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 0.7347 will let the pair go down to the level of 0.7250.

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