Trader, analyst and instructor with a 6-year experience

AUD/USD: Elliot wave analysis

Weekly. We are seeing the beginning of the construction of an impulse wave [c]. In the near future the upward movement is expected to continue.

Chart. Weekly AUD/USD 

Daily. The pair may have completed the construction of the wave [3] and the market moved to the correctional phase [4].

Chart. Daily AUD/USD 

H4. The detailed layout is shown at the figure. The wave [4] is now in process of formation, but its detailed layout isn’t clear yet. This wave may take the form of horizontal correction. Trading in the fourth wave of the impulse is quite risky. It’s recommended to wait until the correction is over.

Chart. H4 AUD/USD

Roman Petuchov for FX BAZOOKA

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