ew-forecast

AUDUSD Update II: Intraday Correction In The Making

FX:AUDUSD   Australian Dollar / U.S. Dollar
On the intraday chart of AUDUSD             , we are observing a corrective movement taking place, ideally as a three wave structure A-B-C. We believe that this consolidation can reach the 50 or 61.8 Fibonacci ratio, from where a new sell-off may occur.

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I think wave (A) which composed of ABC are completed and wave (B) too. There still last rise as wave (C) to complete correction wave.
+1 Reply
Yes, i'm thinking the same, maybe now will wave C complete around 0.755.
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Good job. I thought the counting is perfect.
+1 Reply
Awesome I also have the same idea, however I labelled differently. I recognized this as a complex wxy correction then when we hit wave c up there we will be moving down to wave 5 but the idea is the same.
+1 Reply
ew-forecast PRO RorisangKole
Yes, either way we are both looking down. :)
Reply
TomPower PRO RorisangKole
So you are looking for a lower low to complete
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