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Trader, analyst and instructor with a 6-year experience

AUD/USD: Elliott waves (Mar. 31)

By Roman Petuchov

Weekly. The pair completed the global wave plane [b]. At the last section we are seeing the beginning of construction of a new uptrend.

Chart. Weekly AUD/USD

Daily. Impulse wave is being formed (1). It can be completed this week, and we will see a decrease within the correctional wave (2).

Chart. Daily AUD/USD

H4. The figure shows a detailed layout of the rising impulse (1), which is close to an end. The wave 4 of (1) took form of fairly sweeping sloping triangle. At the moment the pair’s forming the wave 5, which will be completed this week. After that we’ll see a decline in the correctional wave (2), which may take the form of a simple Zigzag, as it often happens with the second wave impulses.

Chart. H4 AUD/USD

AUD
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