AUD/USD: wave analysis
08 August 2019, 09:18
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 0.6774 |
| Take Profit | 0.7080, 0.7205 |
| Stop Loss | 0.6674 |
| Key Levels | 0.6544, 0.6674, 0.7080, 0.7205 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 0.6670 |
| Take Profit | 0.6544 |
| Stop Loss | 0.6730 |
| Key Levels | 0.6544, 0.6674, 0.7080, 0.7205 |
The pair may grow.
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 formed. Now, the wave (c) of b has developed. If the assumption is correct, the pair will grow to the levels of 0.7080–0.7205. In this scenario, critical stop loss level is 0.6674.
Main scenario
Long positions will become relevant during the correction, above the level of 0.6674 with the targets at 0.7080–0.7205. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 0.6674 will let the pair go down to the level of 0.6544.
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 formed. Now, the wave (c) of b has developed. If the assumption is correct, the pair will grow to the levels of 0.7080–0.7205. In this scenario, critical stop loss level is 0.6674.
Main scenario
Long positions will become relevant during the correction, above the level of 0.6674 with the targets at 0.7080–0.7205. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 0.6674 will let the pair go down to the level of 0.6544.
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