AUD/USD: wave analysis
18 February 2019, 08:33
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 0.7150 |
| Take Profit | 0.7348, 0.7534 |
| Stop Loss | 0.7069 |
| Key Levels | 0.6880, 0.6961, 0.7069, 0.7348, 0.7534 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 0.7060 |
| Take Profit | 0.6961, 0.6880 |
| Stop Loss | 0.7120 |
| Key Levels | 0.6880, 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 b of 2 has formed, and the development of the wave c of 2 has begun, within which the waves (i) and (ii) have formed. If the assumption is correct, the pair will grow within the wave (iii) of c of 2 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 during the correction, 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 0.6961–0.6880.
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 has formed, and the development of the wave c of 2 has begun, within which the waves (i) and (ii) have formed. If the assumption is correct, the pair will grow within the wave (iii) of c of 2 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 during the correction, 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 0.6961–0.6880.
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