Elliott Wave Forex AUDUSD 4 December 2018
AUDUSD 4 Hour Chart
Monday, 03 December 2018 at 6:42:00PM AEST
Aussie can be trading in a three-wave recovery from the lows, with current rally from the 0.719 level representing sub-wave 1 as part of a bigger leg C). Leg C) is a motive wave, meaning it is structured by five-waves, so more gains may be expected. Also know that nothing moves in straight lines, so pair may face temporary pauses, as corrections with wave 2 being the next one.
That said, resistance and a possible top for wave C) can be around the 0.750/0.754 area.
AUDUSD Daily Chart
25 November 2018
AUDUSD is reversing higher for the month, moving into a new corrective recovery which can be wave four of a higher degree. Fourth waves can retrace back to the area of a former wave four which is in our case at 0.7451 level, so there is room for more upside the upcoming month. A drop in impulsive fashion, and a break below the 0.702 level would confirm more weakness.
Elliott Wave Charts AUDUSD - 1 HR - two counts, one a possible ending diagonal within wave C of a bigger wave B) correction, the other one a triangle pattern in ... ... - 4 HR - if price makes a further rally from current levels, then bigger corrective wave B) may already be finished and more upside may...
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