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Currency Analyst since 2010

AUD/USD: Elliott waves (Apr. 14)

By Roman Petuchov

Weekly. After the pair completed the descending correctional wave [b], which took a long time, we saw the beginning of a new uptrend [c].

 

Chart. Weekly AUD/USD

Daily. At the moment, the pair’s forming the wave (1). After it’s complete, we’ll see a correction (2).

 

Chart. Daily AUD/USD

H4. The upward momentum is almost fully filled with waves of the junior level. Thus, after a small increase we expect the pair to reverse down.

 

Chart. H4 AUD/USD

AUD
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