Currency Analyst since 2010

AUD/USD: Elliot wave analysis

Weekly. The downward impulse wave III keeps unfolding.

Chart. Weekly AUD/USD

Daily. Presumably the wave [4] has been fully formed. If this is true, we will soon see a decrease in the impulse wave [5].

Chart. Daily AUD/USD

H4. The waves (1) and (2) of the downward movement are complete. In the near future we expect a decline in the wave (3). However, in this situation, we shouldn’t forget about the alternative scenario. If the pair renews the maximum of wave [4], we’ll see a continuation of the upward movement in the wave [4]. You have to be very careful with the sales.

Chart. H4 AUD/USD

Roman Petuchov for FX BAZOOKA

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