AUD/USD: wave analysis
05 December 2018, 08:33
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 0.7296 |
| Take Profit | 0.7162, 0.7022 |
| Stop Loss | 0.7394 |
| Key Levels | 0.7022, 0.7162, 0.7394, 0.7450, 0.7580 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 0.7400 |
| Take Profit | 0.7450, 0.7580 |
| Stop Loss | 0.7365 |
| Key Levels | 0.7022, 0.7162, 0.7394, 0.7450, 0.7580 |
The pair may fall.
On the 4-hour chart, the upward correction develops as a wave 2 of (5). Now the wave a of 2 has formed, and the development of the wave b of 2 has begun. If the assumption is correct, the pair will fall to the levels of 0.7162–0.7022. In this scenario, critical stop loss level is 0.7394.
Main scenario
Short positions will become relevant during the correction, below the level of 0.7394 with the targets at 0.7162–0.7022. Implementation period: 5–7 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 0.7394 will let the pair grow to the levels of 0.7450–0.7580.
On the 4-hour chart, the upward correction develops as a wave 2 of (5). Now the wave a of 2 has formed, and the development of the wave b of 2 has begun. If the assumption is correct, the pair will fall to the levels of 0.7162–0.7022. In this scenario, critical stop loss level is 0.7394.
Main scenario
Short positions will become relevant during the correction, below the level of 0.7394 with the targets at 0.7162–0.7022. Implementation period: 5–7 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 0.7394 will let the pair grow to the levels of 0.7450–0.7580.
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