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.

Chart. Weekly AUD/USD

Daily. As we’ve expected, the pair has finished the wave (4) and kept declining in the wave (5).

Chart. Daily AUD/USD

H8. The wave (4) took form of a long horizontal correction. In the near term we expect a little decline in the wave (5). After that Australian dollar will start forming corrective wave [4], which may take form of a flat.

Chart. H8 AUD/USD

Roman Petuchov for FBS

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