Currency Analyst since 2010

AUD/USD: Elliott waves (Feb. 17)

By Roman Petuchov

Weekly. In line with our forecast the pair has finished the global correctional wave [b] which took the form of a plane wave.

Chart. Weekly AUD/USD

Daily. Wave V looks fully equipped with junior waves, so we are seeing growth in prices. The beginning of a new uptrend is now forming.

Chart. Daily AUD/USD

The waver 3 has is probably complete. We are seeing the construction of a correctional wave 4. The formation of this wave may last a few days, as this wave can easily take form of a flat. When construction of the wave is complete, a local maximum will be renewed by the wave 5. The approximate trajectory is shown at the chart.

Chart. H4 AUD/USD

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