Currency Analyst since 2010

AUD/USD: weekly wave analysis

Weekly. The pair began plummeting in thecorrectional wave (II). Most likely, bearish movement will continue this week.

Daily. Wave (II) is taking form of a flat with a powerful impulse in the form of wave C. Moreover, this wave does not look complete, so the decline will continue even as indicated at the picture. Due to the force of the decline, there’s probability of an alternative scenario in which we’ll see continued decline to the last minimum, and even lower. Take this into account while trading. 

H4. Plan of price movement for this week is shown at the picture. We expect a bearish market.

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