Elliott Wave Forex AUDUSD 10 January 2019
Aud/Usd 1 Hour Chart
Thursday, 10 January 2019 at 1:04:00AM AEST
Aussie can be trading in the final stages of wave 5) which may find a top around 0.72 area, so we should be aware of a deeper three-wave A-B-C pullback decline soon, but only sharp and impulsive decline would be an indication of a bearish turn into a correction!
Aud/Usd 4 Hour Chart
Wednesday, 9 January 2019 at 6:34:00PM AEST
AUDUSD made a five-wave drop down from 0.739 level, with an extended leg 5) which seems to have found a base at the 0.667 region. Notice that so far, pair has recovered more than 400 pips in sharp wave, so we assume that's still wave A of a three leg recovery. We assume that pair can be headed back to 0.7245 area and then even back to 0.7400 after wave B pullback fully unfolds.
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