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