Downtrend continues

The fifth wave of junior level 5 within the third wave of senior level (3) continues to develop. Apparently, a small correction in a form of wave iv of 5 has finished locally and the decline continues within the fifth wave v of 5. If this assumption is correct and the price does not break the critical level 0.7728, the pair will continue to drop to the levels 0.7480-0.7400 within the third wave (3).

Trading tips

Sell the pair from corrections below the level of 0.7728 with the targets at 0.7480-0.7400.

Alternative scenario:

Consolidation above a level of 0.7728 will allow the pair to continue the rise up to the levels 0.8026-0.8200.

AUD/USD: wave analysis

AUD/USD: wave analysis




Materials published on this page are provided by LiteForex for informational purposes only and should not be construed as investment advice or advice for the purposes of 2004/39/EC Directive. In addition, these materials have not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on the further distribution of investment research.



Follow us in social networks!
Live Chat
Leave feedback