AUD/USD: wave analysis
10 January 2019, 08:33
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 0.7184 |
| Take Profit | 0.7301, 0.7391 |
| Stop Loss | 0.7110 |
| Key Levels | 0.6867, 0.6944, 0.7110, 0.7301, 0.7391 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 0.7105 |
| Take Profit | 0.6944, 0.6867 |
| Stop Loss | 0.7165 |
| Key Levels | 0.6867, 0.6944, 0.7110, 0.7301, 0.7391 |
The pair may grow.
On the 4-hour chart, an upward correction of the higher level develops as the wave 2 of (5). Now, the wave a of 2 is forming, within which the first wave of the lower level (i) of а is developing. If the assumption is correct, the pair will grow to the levels of 0.7301–0.7391. In this scenario, critical stop loss level is 0.7110.
Main scenario
Long positions will become relevant during the correction, above the level of 0.7110 with the targets at 0.7301–0.7391. Implementation period: 5–7 days.
Alternative scenario
The breakdown and the consolidation of the price below the level of 0.7110 will let the pair go down to the levels of 0.6944–0.6867.
On the 4-hour chart, an upward correction of the higher level develops as the wave 2 of (5). Now, the wave a of 2 is forming, within which the first wave of the lower level (i) of а is developing. If the assumption is correct, the pair will grow to the levels of 0.7301–0.7391. In this scenario, critical stop loss level is 0.7110.
Main scenario
Long positions will become relevant during the correction, above the level of 0.7110 with the targets at 0.7301–0.7391. Implementation period: 5–7 days.
Alternative scenario
The breakdown and the consolidation of the price below the level of 0.7110 will let the pair go down to the levels of 0.6944–0.6867.
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