Elliott Wave Forex AUDUSD 1 + 4 hr 11 Feb 2019
Aud/Usd 1 Hour Chart
Sunday, 10 February 2019 at 9:46:00PM EST
AUDUSD is dropping from current swing high at 0.7104 level, giving us an idea that maybe a triangle correction had fully shown up within wave iv and that now final wave v is in play. In such case be aware more weakness, which can later look for support and a bounce near the Fibonacci ratio of 38.2/61.8, from where a minimum three-wave reversal may follow.
Aud/Usd 4 Hour Chart
Monday, 11 February 2019 at 3:15:00 PM EST
AUDUSD is recovering since the beginning of the year, giving us an idea that a five-wave decline had found a low at the 0.667 level, and that now a three-wave recovery is in play. This recovery has already unfolded wave A), and is now unraveling corrective wave B), which can show up as a flat correction. This flat correction can later look for support and a bounce near the 0.707 level (level of a former swing low), from where a new, five-wave, minor recovery into wave C) can follow or deeper around the 0.690 region. A later break above the 0.729 level would confirm a bullish continuation.
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