AUDUSD Elliott Wave Analysis – Trading Lounge Day Chart
Australian Dollar/U.S. Dollar (AUDUSD) – Day Chart Analysis
AUDUSD Elliott Wave Technical Review
FUNCTION: Bullish Trend
MODE: Impulsive
STRUCTURE: Orange Wave 3
POSITION: Navy Blue Wave 1
DIRECTION NEXT HIGHER DEGREES: Orange Wave 3 (Initiated)
DETAILS: Completion of Orange Wave 2 confirmed; Orange Wave 3 now in progress.
Wave Cancel Invalidation Level: 0.559155
The daily Elliott Wave analysis for AUDUSD indicates a strong bullish trend with impulsive wave behaviour. The structure shows active development of Orange Wave 3 within the broader context of Navy Blue Wave 1, implying sustained upward price movement.
With Orange Wave 2 now finalised, AUDUSD has entered Orange Wave 3—typically a powerful extension in Elliott Wave patterns. This setup signals potential upside momentum as the trend matures. Traders should closely observe the invalidation threshold at 0.559155, as a move below this level would challenge the current bullish outlook and necessitate a reevaluation.
Australian Dollar/U.S. Dollar (AUDUSD) Currency Pair Analysis – 4-Hour Chart
AUDUSD Elliott Wave Technical Review
FUNCTION: Counter Trend
MODE: Corrective
STRUCTURE: Gray Wave 2
POSITION: Orange Wave 3
DIRECTION NEXT LOWER DEGREES: Gray Wave 3
DETAILS: Gray Wave 1 is complete; Gray Wave 2 is unfolding.
Wave Cancel Invalidation Level: 0.559155
On the 4-hour chart, the Elliott Wave analysis for AUDUSD reveals a corrective counter-trend structure, occurring within the larger bullish Orange Wave 3. This phase corresponds to Gray Wave 2, indicating a short-term consolidation or pullback against the main trend.
With Gray Wave 1 completed, the market is progressing through Gray Wave 2, which often exhibits sideways or mild downward movement. The upcoming Gray Wave 3 is anticipated to reassert the primary bullish direction. Traders should watch for signs of completion in Gray Wave 2, as this could initiate the next impulsive leg higher in AUDUSD.
Technical Analyst: Malik Awais
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