Correction is nearing completion, growth expected to continue

Supposedly, bearish correction in a form of fourth wave (iv) within an uptrend is nearing completion.  If the presumption is correct, after correction, the pair will continue to grow to a level at 0.7990. The level  0.7700 is critical in this scenario.

Trading tips

Wait for completion of correction and buy the pair above a level of 0.7700 with targets at 0.7990-0.8200.

Alternative scenario:

Breakdown and consolidation below a level of 0.7700  will allow the pair to continue declining to the levels 0.7600-0.7500.

AUD/USD: Wave analysis

AUD/USD: Wave analysis




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