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Trader, analyst and instructor with a 6-year experience

AUD/USD: Elliott waves (Mar. 10)

By Roman Petuchov for FBS

Weekly. We are seeing the beginning of a new uptrend [c].

Chart. Weekly AUD/USD

Daily. The last bullish impulsive move made it clear that the construction of the wave (1) hasn’t finished yet.

Chart. Daily AUD/USD

H4. At H4 one can see that there’s a strong probability that the wave (1) is already fully built. This week we may see the corrective decline in the correction (2). There’s an alternative, according to which the maximum (1) will be renewed in the coming days. However, most likely, the price won’t come much higher. In any case, we expect correction to start soon.

Chart. H4 AUD/USD

AUD
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