ew-forecast

AUDUSD May Reach 0.7800 After Current Correction

FX:AUDUSD   Australian Dollar / U.S. Dollar
AUDUSD             was trading slightly lower on Friday but for now a decline is slow and overlapping above 0.7600 so we see it as corrective wave 4 that can still lift pair to a new high, even up to 0.7800 this week where we would look for a top formation of a fifth wave.

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Is this trade still valid?
+1 Reply
We adjusted our count, as of recent sharp reversal. We now think that at 0.77226 where we labeled wave 3, we now believe is red wave (5) so more weakness may now be in view.
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SkyrEk ew-forecast
ah i see, and where will red wave 5 possibly end? Thank you.
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Red wave (5) is now already over at 0.77226, so more weakness may be in the cards
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awesome work TY
+1 Reply
Thank you. You're welcome.
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