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AUDUSD, Elliot Wave Analysis

2/2/2023 10:20 AM

The price is in a correction and may grow.

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. Now, the entry first wave of the lower level i of 1 of (3) has formed, and a local correction has started to develop as the second wave ii of 1 of (3). If the assumption is correct, the AUD/USD pair will grow to the area of 0.7464–0.7672. In this scenario, critical stop loss level is 0.6525.

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