Currency Analyst since 2010

AUD/USD: weekly wave analysis

By Roman Petuchov

Weekly. When the correctional wave [b] was complete as a normal plane wave, we saw the beginning of construction of a new ascending section [c].

Daily. The pair is starting the uptrend with the impulse (1). And this impulse is near completion.

H4. Layout wave V of (1) is shown at the picture. Currently, the market is growing within the bullish wave [5]. This week we expect growth to continue growing in this wave. The pair might renew the maximum formed by wave III. After that we’ll see a reversal of the pair and its decline within the new correctional wave (2).

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