AUD/USD: wave analysis
08 February 2019, 08:42
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 0.7080 |
| Take Profit | 0.6961, 0.6880 |
| Stop Loss | 0.7195 |
| Key Levels | 0.6880, 0.6961, 0.7195, 0.7348, 0.7534 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 0.7200 |
| Take Profit | 0.7348, 0.7534 |
| Stop Loss | 0.7140 |
| Key Levels | 0.6880, 0.6961, 0.7195, 0.7348, 0.7534 |
The pair may fall.
On the 4-hour chart, an upward correction of the higher level develops as the wave 2 of (5). Now the wave b of 2 is forming, within which the wave (c) of b of 2 is developing. If the assumption is correct, the pair will fall to the levels of 0.6961–0.6880. In this scenario, critical stop loss level is 0.7195.
Main scenario
Short positions will become relevant below the level of 0.7195 with the targets at 0.6961–0.6880. Implementation period: 5–7 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 0.7195 will let the pair grow to the levels of 0.7348–0.7534.
On the 4-hour chart, an upward correction of the higher level develops as the wave 2 of (5). Now the wave b of 2 is forming, within which the wave (c) of b of 2 is developing. If the assumption is correct, the pair will fall to the levels of 0.6961–0.6880. In this scenario, critical stop loss level is 0.7195.
Main scenario
Short positions will become relevant below the level of 0.7195 with the targets at 0.6961–0.6880. Implementation period: 5–7 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 0.7195 will let the pair grow to the levels of 0.7348–0.7534.
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