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AUDUSD, Elliot Wave Analysis

8/10/2022 12:30 PM

A fall is possible.

On the daily chart, the first wave of the higher level (1) of C ended, and a downward correction forms as the wave (2) of C, within which the wave C of (2) develops. Now, the third wave of the lower level iii of C has formed, a local correction has developed as the fourth wave iv of C, and the fifth wave v of C has started. If the assumption is correct, the AUD/USD pair will fall to the area of 0.6600–0.6450. In this scenario, critical stop loss level is 0.7044.







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