Currency Analyst since 2010

AUD/USD: weekly wave analysis

Weekly. After completion of the descending correctional wave [b], which took the form of the flat, we’ll see the start of construction of a new bullish trend.

Daily. The upward impulse (1) has been completed. The market began declining in the correction (2).

H12. Most likely, the wave (2) will take form of a double downward Zigzag. Last week, the correctional wave formed the bunch X. It has probably been completed. If this assumption is true, we’ll see a price reduction in the wave [a] of y this week.

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