Hi Traders,
The AUDUSD (now at 0.753) seems determined to rally to 0.76-0.77 but this time, given the Elliott Wave pattern, there is a real possibility to make it to the area 0.806-0.8165.
ELLIOTT WAVES
The weekly chart displays a compression formation (a and b) which is usually followed by three large waves up from b.
The daily chart shows that, from b, Wave 1 and 2 (out of 3 waves) have been completed whilst the third wave - made out of 5 waves up - just started.
Theoretically, it should reach the 0.81 level.
Monthly chart, click to enlarge
Weekly chart, click to enlarge
Daily chart, click to enlarge
4-hour chart, click to enlarge
1-hour chart, click to enlarge
The AUDUSD (now at 0.753) seems determined to rally to 0.76-0.77 but this time, given the Elliott Wave pattern, there is a real possibility to make it to the area 0.806-0.8165.
ELLIOTT WAVES
The weekly chart displays a compression formation (a and b) which is usually followed by three large waves up from b.
The daily chart shows that, from b, Wave 1 and 2 (out of 3 waves) have been completed whilst the third wave - made out of 5 waves up - just started.
Theoretically, it should reach the 0.81 level.
Monthly chart, click to enlarge
Weekly chart, click to enlarge
Daily chart, click to enlarge
4-hour chart, click to enlarge
1-hour chart, click to enlarge
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