FX:AUDUSD   Australian Dollar / U.S. Dollar
64 0
The pair may grow.

On the 4-hour chart, the wave b of 2 formed. Now, the development of the wave c of 2 is beginning, within which the first entry wave of the lower level i of (i) of c and the correction ii of (i) have formed. If the assumption is correct, the pair will grow to the levels of 0.7080–0.7205. In this scenario, critical stop loss level is 0.6674.

Main scenario

Long positions will become relevant during the correction, above the level of 0.6674 with the targets at 0.7080–0.7205. Implementation period: 7 days and more.

Alternative scenario

The breakout and the consolidation of the price below the level of 0.6674 will let the pair go down to the level of 0.6544.



Timeframe Weekly
Recommendation BUY
Entry Point 0.6781
Take Profit 0.7080, 0.7205
Stop Loss 0.6674
Key Levels 0.6544, 0.6674, 0.7080, 0.7205

Alternative scenario

Recommendation SELL STOP
Entry Point 0.6670
Take Profit 0.6544
Stop Loss 0.6730
Key Levels 0.6544, 0.6674, 0.7080, 0.7205
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