Trader, analyst and instructor with a 6-year experience

AUD/USD: Elliot wave analysis

Weekly. The pair keeps forming the wave III of the downside impulse. This wave looks powerful, stretched and rapid – just as it has to be.

Chart. Weekly AUD/USD

Daily. The marking on the daily chart shows that the pair keeps forming the wave [3] of III.

Chart. Daily AUD/USD

H8. In line with our forecast Aussie has formed the wave (4) of [3] of III. When this wave is complete, the decline in the wave (5) will resume. The decline will probably last during the whole week.

Chart. H8 AUD/USD

Roman Petuchov for FBS


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