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AUDUSD, Elliot Wave Analysis

11/16/2022 11:32 AM

Growth is possible.

On the daily chart, the first wave of the higher level (1) formed, and a downward correction ended as the second wave (2), within which the wave C of (2) formed. Now, the development of the third wave (3) has started, and the first entry wave of the lower level i of 1 of (3) is forming. If the assumption is correct, the AUD/USD pair will grow to the area of 0.6916–0.7142. In this scenario, critical stop loss level is 0.6393.

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