AUD/USD: wave analysis
21 December 2018, 08:33
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 0.7105 |
| Take Profit | 0.7060, 0.7025 |
| Stop Loss | 0.7145 |
| Key Levels | 0.7025, 0.7060, 0.7200, 0.7305, 0.7450 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 0.7210 |
| Take Profit | 0.7305, 0.7450 |
| Stop Loss | 0.7175 |
| Key Levels | 0.7025, 0.7060, 0.7200, 0.7305, 0.7450 |
The pair may fall.
On the 4-hour chart, an upward correction develops as the wave 2 of (5). Now, the wave b of 2 is developing as a zigzag, within which the wave (c) of b is developing. If the assumption is correct, the pair will fall to the levels of 0.7060–0.7025. In this scenario, critical stop loss level is 0.7200.
Main scenario
Short positions will become relevant below the level of 0.7200 with the targets at 0.7060–0.7025. Implementation period: 3–5 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 0.7200 will let the pair grow to the levels of 0.7305–0.7450.
On the 4-hour chart, an upward correction develops as the wave 2 of (5). Now, the wave b of 2 is developing as a zigzag, within which the wave (c) of b is developing. If the assumption is correct, the pair will fall to the levels of 0.7060–0.7025. In this scenario, critical stop loss level is 0.7200.
Main scenario
Short positions will become relevant below the level of 0.7200 with the targets at 0.7060–0.7025. Implementation period: 3–5 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 0.7200 will let the pair grow to the levels of 0.7305–0.7450.
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