AUD/USD: wave analysis
14 August 2018, 10:01
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 0.7270 |
| Take Profit | 0.7150, 0.7100 |
| Stop Loss | 0.7452 |
| Key Levels | 0.7100, 0.7150, 0.7452, 0.7677 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 0.7460 |
| Take Profit | 0.7677 |
| Stop Loss | 0.7383 |
| Key Levels | 0.7100, 0.7150, 0.7452, 0.7677 |
The trend is downward.
On the 4-hour chart, the third wave iii of 1 develops within the first wave of the higher level. Now the fifth wave of the lower level is forming, within which the wave i of (v) has formed. If the assumption is correct, after the end of the local correction ii of (v) the pair will fall to the levels of 0.7150–0.7100. The level of 0.7452 is critical and stop loss for this scenario.
Main scenario
Short positions will become relevant after the end of the correction, below the level of 0.7452 with the targets at 0.7150–0.7100. Implementation period: 5–7 days.
Alternative scenario
Break and consolidation of the price above the level of 0.7452 will allow the pair to rise to the level of 0.7767.
On the 4-hour chart, the third wave iii of 1 develops within the first wave of the higher level. Now the fifth wave of the lower level is forming, within which the wave i of (v) has formed. If the assumption is correct, after the end of the local correction ii of (v) the pair will fall to the levels of 0.7150–0.7100. The level of 0.7452 is critical and stop loss for this scenario.
Main scenario
Short positions will become relevant after the end of the correction, below the level of 0.7452 with the targets at 0.7150–0.7100. Implementation period: 5–7 days.
Alternative scenario
Break and consolidation of the price above the level of 0.7452 will allow the pair to rise to the level of 0.7767.
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