Trader, analyst and instructor with a 6-year experience

AUD/USD: Elliott waves

By Roman Petuchov

Weekly. After the correctional wave [b] is complete, we’ll see the beginning of the decline within the bullish impulse [c].

Daily. After the rising impulse (1) and a small correction to it were over, the pair began a new upward wave 1. This week it will finish this wave, and then a decline within correction wave 2 will start.

H4. At the moment, we are seeing growth in the wave [v]. After the local downward correction of the pair is over, we expect AUD/USD to continue rising and renew the local maximum, as indicated at the picture.

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