AUD/USD: wave analysis
05 August 2019, 09:58
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 0.6772 |
| Take Profit | 0.6544 |
| Stop Loss | 0.6855 |
| Key Levels | 0.6544, 0.7079, 0.7205, 0.7293 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 0.7085 |
| Take Profit | 0.7205, 0.7293 |
| Stop Loss | 0.7025 |
| Key Levels | 0.6544, 0.7079, 0.7205, 0.7293 |
The pair may fall.
On the daily chart, the correction of the higher level develops as the second wave 2 of (5), within which the wave b of 2 forms. Now, the wave (b) of c of the lower level has developed, and the wave (c) of c 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 0.7079.
Main scenario
Short positions will become relevant during the correction, below the level of 0.7079 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 0.7079 will let the pair grow to the levels of 0.7205–0.7293.
On the daily chart, the correction of the higher level develops as the second wave 2 of (5), within which the wave b of 2 forms. Now, the wave (b) of c of the lower level has developed, and the wave (c) of c 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 0.7079.
Main scenario
Short positions will become relevant during the correction, below the level of 0.7079 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 0.7079 will let the pair grow to the levels of 0.7205–0.7293.
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