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AUD/USD: Elliot wave analysis

Weekly. The downside impulse wave III keeps unfolding.

Chart. Weekly AUD/USD

Daily. The wave [4] of III is in process of forming. The wave (С) currently represents 161% of the wave (А). This is the most common Fibo coefficient. We’ll likely see a decline in the wave [5] in the near term.

Chart. Daily AUD/USD

H8. You may see the more detailed marking on this chart. The final marking of the wave [4] isn’t clear yet.

Chart. H8 AUD/USD

Roman Petuchov for FBS

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