Trader, analyst and instructor with a 6-year experience

AUD/USD: Elliot wave analysis

Weekly. AUD/USD keeps forming wave [IV] of C. The critical level of this scenario is shown with the red line. If the pair breaches this line, we’ll adopt another marking.

Chart. Weekly AUD/USD

Daily. If the marking we’ve chosen is correct, we’ll see impulse growth in the wave [V] in the near term.

Chart. Daily AUD/USD

H4. The pair looks ready to begin moving up as the a-b-c Zigzag seems completed.

Chart. H4 AUD/USD

By Roman Petuchov for FBS

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