Hello.
AUDUSD Time Wave Analysis.
As a result of the pattern analysis of AUDUSD, there is a high probability of a leading diagonal pattern of the first impulse of the uptrend. It is currently a bullish wave following the daily correction trend line, which is very likely to break. This is because the upper high is likely to be the new weekly correction trend line.
However, since the starting line of the weekly correction trend of the uptrend is drawn below, a new weekly support line will be drawn as long as it does not break the bottom, and if so, it may lead to a weekly uptrend. It is a very good pattern to turn into an uptrend, and if it makes a low next week and rebounds, it is better to respond with a Buy.
However, if the support line is not drawn and the pattern continues to decline, the validity of this pattern is lost.
In my opinion, this is a very likely signal for the dollar to turn downward soon. We will update again when changes occur.
good luck.
AUDUSD Time Wave Analysis.
As a result of the pattern analysis of AUDUSD, there is a high probability of a leading diagonal pattern of the first impulse of the uptrend. It is currently a bullish wave following the daily correction trend line, which is very likely to break. This is because the upper high is likely to be the new weekly correction trend line.
However, since the starting line of the weekly correction trend of the uptrend is drawn below, a new weekly support line will be drawn as long as it does not break the bottom, and if so, it may lead to a weekly uptrend. It is a very good pattern to turn into an uptrend, and if it makes a low next week and rebounds, it is better to respond with a Buy.
However, if the support line is not drawn and the pattern continues to decline, the validity of this pattern is lost.
In my opinion, this is a very likely signal for the dollar to turn downward soon. We will update again when changes occur.
good luck.