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AUDUSD, Elliot Wave Analysis

12/22/2022 10:24 AM

Growth is possible.

On the daily chart, the first wave of the higher level (1) formed, a downward correction ended as the second wave (2), and the third wave (3) develops, within which the first entry wave of the lower level i of 1 of (3) forms. Now, the wave (iii) of i has formed, and a local correction has ended as the wave (iv) of i. If the assumption is correct, the AUD/USD pair will grow within the wave (v) of i to the area of 0.7040–0.7142. In this scenario, critical stop loss level is 0.6584.

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