AUD/USD - BULLS Are Coming Eitherway (Elliott Wave)
|Hello fellow trades,
AUDUSD made a sharp recovery from the 0.667 area, however once it found a top at the 0.682 region, that is when price got sideways. We labelled a seven-swing correction within wave b)/ii), that found support near the 0.673 area, from where a new bounce occurred. This bounce can be part of a new five-wave move into red wave c)/iii). That said, current sideways price activity from the 0.682 area can also be labelled as a triangle correction, however it does not matter, because more upside is expected either way after a correction.
A break above 0.682 area would confirm more gains.
AUDUSD, 1h
If you like what we do, then you can subscribe to our webpage at www.ew-forecast.com
Also we have a special offer 2€ for Crypto services, and 1€ for FX services for a period of 14 days.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.