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AUD/USD: weekly wave analysis

Author: Roman Petukhov

Weekly. Development of the global downward correction [b] to the uptrend [a] continues. Wave [b] takes the form of a Triple Zigzag. Let's consider the layout of the final downward zigzag (z).

Daily. As part of the zigzag (z), which consists of waves A-B-C, the final part of the pulse is now being formed. To determine the point of the trend reversal, we are considering the structure of wave [5] of A on the chart H4.

H4. Wave [5] of A has been mostly already built. After completed correction (4), we saw a continued decrease of pair in the pulse(5). The new week is expected to reduce prices in this wave. By the end of the week, when this wave will be completely built, trend is expected to turn and start building a correction B.

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