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AUD/USD: weekly wave analysis

by Roman Petukhov.

Weekly. The market is sliding within a three-fold downward zigzag [b], the final downward zigzag (z) is being formed at the moment; let us consider its markup on the lower timeframes.

Daily. The first leg of the downward zigzag A is fully completed. The upward correction B has already begun to develop and it might also take the form of a zigzag.

H4. Next week will be marked by the correctional wave [B] formation, which might take the form of either a wave plane or a more complex model. In such a situation, we recommend you to refrain from trading.

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