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AUDUSD, Elliot Wave Analysis

11/10/2022 10:34 AM

A fall is possible.

On the daily chart, the first wave of the higher level (1) ended, and a downward correction develops as the second wave (2), within which the wave C of (2) develops. Now, the fifth wave of the lower level v of C is forming, the wave (iii) of v has formed, and a local correction has ended as the wave (iv) of v. If the assumption is correct, the AUD/USD pair will fall within the wave (v) of v to the area of 0.6157–0.6086. In this scenario, critical stop loss level is 0.6567.

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