AUD/USD: wave analysis
28 January 2019, 08:30
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 0.7189 |
| Take Profit | 0.7348, 0.7534 |
| Stop Loss | 0.7069 |
| Key Levels | 0.6886, 0.6961, 0.7069, 0.7348, 0.7534 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 0.7060 |
| Take Profit | 0.6961, 0.6886 |
| Stop Loss | 0.7120 |
| Key Levels | 0.6886, 0.6961, 0.7069, 0.7348, 0.7534 |
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 has formed, and the local correction b of 2 has ended. If the assumption is correct, the pair will grow to the levels of 0.7348–0.7534. In this scenario, critical stop loss level is 0.7069.
Main scenario
Long positions will become relevant above the level of 0.7069 with the targets at 0.7348–0.7534. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 0.7069 will let the pair go down to the levels of 0.6961–0.6886.
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 has formed, and the local correction b of 2 has ended. If the assumption is correct, the pair will grow to the levels of 0.7348–0.7534. In this scenario, critical stop loss level is 0.7069.
Main scenario
Long positions will become relevant above the level of 0.7069 with the targets at 0.7348–0.7534. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 0.7069 will let the pair go down to the levels of 0.6961–0.6886.
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