its_new_wave
Long

AUDUSD: Elliot wave count

FX:AUDUSD   Australian Dollar/U.S. Dollar
This pair have a clearly structure. The rise from 0.75322 to 0.78416 I marked as a regular flat 3-3-5: (a) (b) (c) count.
I market this flat as w, because from the level 0.75322 we got a significant low level for this pair. I think we complete impulse wave ( iii             ) from 0.89 and this pair must have a significant correction.
Because of this the next wave that I'm waiting is a wave x. I preferred recognise 2 main scenario for next move during a week:

First
The pair do triangle pattern: a - b - c - d - e. I marked H4 cycle and RSI lower levels. I will waiting some decline to support line and my target price is 0.618 x wave a = 0.77428. This decline will going to the 28th on April (± several H4 bars)

Second
My alternative count is a sequence one-two waves from 0.76919. It mean, that after some decline the pair will start do wave 3 in two dimensions, breakthrough the support top line and go up with an acceleration.

Conclusion
In my opinion is that next few days will determine which of both scenario will occur. Both of them are showing that the pair have good opportunities for significant rise. One different is when this occur.

UPD:

Addition wave counting: After wave w may be appear a regular flat correction: 3-3-5. Now the pair have waves a - b. Then wave c will be have the next target point is 0.768. If this scenario will occur the pair will breakthrough the support bottom line very fast .
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