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.
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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