Trader, analyst and instructor with a 6-year experience

AUD/USD: Elliott waves (Dec. 23)

Weekly. The pair continues forming the wave (c) of [b]. The most important task is to determine the end point of this wave and trend reversal.

График. Weekly AUD/USD

Daily. The pair’s currently forming a final impulse wave V of (C). For now, this wave doesn’t look complete. We expect the decline to continue in the coming week.

Chart. Daily AUD/USD

H4. The pair may have finished the wave [3]. We see the very beginning of the wave [4], which can take the form of extended horizontal correction or a flat. After the wave [4] is formed, the decline in the wave [5] will continue and the bears will at least renew the low.

Chart. H4 AUD/USD

Roman Petuchov for FBS

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