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AUD/USD: Elliot wave analysis

Weekly. The pair keeps forming downward impulse wave III.

Chart. Weekly AUD/USD

Daily. The pair may have finished the construction of a corrective wave [4]. In the near future we expect a decline in the wave [5].

Chart. Daily AUD/USD

H4. The pair keeps forming the wave (2). The construction of this wave was delayed, so in the near term we expect a start of a decline in wave (3). It’s possible that we’ll see a top-down “shot” of a price. After such protracted corrections there are often strong price movements.

Chart. H4 AUD/USD

Roman Petuchov for FX BAZOOKA

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