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AUD / USD: weekly wave analysis

Roman Petukhov

Weekly. The market forms a long downward correction [b], that takes the form of a Triple Zigzag. At present, the final descending zigzag (z) of [b] is  formed.

Daily. The graph shows the layout of the last section. Zigzag (z) is a simple three-wave motion ABC. And the momentum looks totally complete. At the moment the beginning of the correction B is formed .

H4. After completion of the descending wave A formation, we saw the beginning of the construction of a new correctional wave B. It is difficult to say what form of the wave it will be, but it is likely that in the coming weeks we will see the development of the lateral flat market. It is recommended to be cautious in trading on this range, it is better to pay attention to other currency pairs.

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