AUD/USD: Elliot wave analysis
Weekly. There’s no scope for the downside of the wave [IV] of C. If our marking is correct, there will be only one scenario left – up in the wave [V].
Chart. Weekly AUD/USD
Daily. The impulse in the wave C ended with a spike. Right after that we’ve seen the beginning of impulse growth which may be a confirmation of potential reversal
Chart. Daily AUD/USD
H4. We are witnessing the formation of the first upside impulse, though it’s still unclear how long it will continue. After it there will be a correction and then the uptrend will resume.
Chart. H4 AUD/USD
By Roman Petuchov for FBS