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AUDUSD, Elliot Wave Analysis

2/22/2023 10:31 AM

A fall 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. Now, the entry first wave of the lower level i of 1 of (3) has formed, and a local correction is developing as the second wave ii of 1 of (3), within which the wave (c) of ii is developing. If the assumption is correct, the AUD/USD pair will fall to the area of 0.6645–0.6524. In this scenario, critical stop loss level is 0.7008.

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