AUD/USD: wave analysis
19 June 2019, 09:21
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 0.6876 |
| Take Profit | 0.6544 |
| Stop Loss | 0.7021 |
| Key Levels | 0.6544, 0.7021, 0.7205, 0.7400 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 0.7025 |
| Take Profit | 0.7205, 0.7400 |
| Stop Loss | 0.6965 |
| Key Levels | 0.6544, 0.7021, 0.7205, 0.7400 |
The pair may fall.
On the daily chart, a downward trend develops as the fifth wave of the higher level (5). Now, the development of the third wave 3 of (5) has begun, within which the wave of the lower level iii of 3 is forming. If the assumption is correct, the pair will fall to the level of 0.6544. In this scenario, critical stop loss level is 0.7021.
Main scenario
Short positions will become relevant during the correction, below the level of 0.7021 with the target at 0.6544. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 0.7021 will let the pair grow to the levels of 0.7205–0.7400.
On the daily chart, a downward trend develops as the fifth wave of the higher level (5). Now, the development of the third wave 3 of (5) has begun, within which the wave of the lower level iii of 3 is forming. If the assumption is correct, the pair will fall to the level of 0.6544. In this scenario, critical stop loss level is 0.7021.
Main scenario
Short positions will become relevant during the correction, below the level of 0.7021 with the target at 0.6544. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 0.7021 will let the pair grow to the levels of 0.7205–0.7400.
No comments:
Write comments