A leading diagonal from the 1072.80 base setup for short term long, and potential long term rally.
Waiting for entry near bottom channel line to go long on the vth leg of the ending diagonal wave {v}
Working it's way down on the first impulse wave i of the (5). Longer term snapshot:
Completed a 2.5 years of correction (4), now advancing on the (5)the wave of an expanding Diagonal (C).
Completed 7 months of wave {iv} correction, now advancing on impulse {v}. Longer term snapshot:
Revised wave count of a completed wave iv pave way for a very extended v wave up.
Caught by surprise so many markets making medium term bottoms or tops this way - Learning something new everyday. Buy it now? that's the big question.
Potential topping of wave (b) could see this pair reverse on a long term impulse (c). Longer term view:
wave b of zigzag (b) retraced 0.382, could be ready for c, target c = a.
Long at 61.82% retracement. Long AUDUSD / short EURAUD
An impulse down and a corrective retracement of more than 80%, setup for an extended impulse with tight SL.