Trader, analyst and instructor with a 6-year experience

AUD/USD: Elliott waves (Feb. 3)

Weekly. The pair’s forming the wave V, which is the final wave of impulse (s).

Chart. Weekly AUD/USD

Daily. At the moment the whole structure of the impulse V looks fully formed and logically complete.

Chart. Daily AUD/USD

H4. Layout of the wave V really looks quite harmonious. It’s possible that in the last section we are seeing the beginning of a new uptrend. If this is true, next week we’ll see an advance. However, don’t forget about the alternative scenario, according to which a reduction may continue. Trading against the trend is a dangerous occupation. We must wait for a confirmation that the uptrend has really started.

Chart. H4 AUD/USD

Roman Petuchov for FBS

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