AUD/USD Impulse incoming ?
If you look at my previous post on AUD/USD, you can clearly see that AUD/USD reached the previous wave 4 on the daily chart and couldn't break it and you know that according to the Elliott Waves Principle, not breaking the previous wave 4 is a positive sign for an upside impulse to come.
Looking at the 2H chart, we can see that AUD/USD is currently trading in a descending corrective formation and I expect this move to be considered wave ii of 1, and now we are waiting to capitalize on wave iii of 1 as the DXY may have finished its correction for more downside.
Our first target will be the 100% Fibonacci Extension level at (0.77314). Breaking the 100% Fibonacci Extension will push AUD/USD towards the 161.8% Fibonacci level at (0.78200) which will be our second long-term target.
Looking at the 2H chart, we can see that AUD/USD is currently trading in a descending corrective formation and I expect this move to be considered wave ii of 1, and now we are waiting to capitalize on wave iii of 1 as the DXY may have finished its correction for more downside.
Our first target will be the 100% Fibonacci Extension level at (0.77314). Breaking the 100% Fibonacci Extension will push AUD/USD towards the 161.8% Fibonacci level at (0.78200) which will be our second long-term target.
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Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.