Forex AUDUSD Elliott Wave 15 November 2018
AUDUSD 1 Hour Chart
Thursday, 15 November 2018 at 1:08:00AM AEST
Aussie is moving higher, but maybe only within a corrective wave B here, so be aware of a decline back to ideal 61,8% Fibo. retracement, from where the real Bulls may show up that can go back to new highs above 0.73 area.
AUDUSD 4 Hour Chart
Wednesday, 14 November 2018 at 7:00:00PM AEST
AUDUSD made a very nice and strong turn from 0.7019 level which we labelled as wave A), first wave of a bigger three-wave reversal. We can see that wave A) fully unfolded a five-wave recovery, which means current drop from 0.730 level was expected. This drop can now be labelled as start of corrective wave B), which can unfold a three-wave pullback and can later look for support around the Fibonacci ratio of 50.0/61.8.
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