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AUD/USD: technical analysis 15 November 2019, 12:22

AUD/USD: technical analysis 15 November 2019, 12:22 Scenario Timeframe Intraday Recommendation SELL STOP Entry Point 0...

Nov 8, 2019

American Express Co.: wave analysis 08 November 2019, 08:42


Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 121.32
Take Profit 131.00, 140.00
Stop Loss 117.85
Key Levels 88.99, 104.50, 110.78, 131.00, 140.00
Alternative scenario
Recommendation SELL STOP
Entry Point 110.70
Take Profit 104.50, 88.99
Stop Loss 112.80
Key Levels 88.99, 104.50, 110.78, 131.00, 140.00
The price may grow.
On the daily chart, the fifth wave of the higher level (5) of A develops, within which a local correction ended as the fourth wave 4 of (5). Now, the formation of the fifth wave of the lower level 5 of (5) has started. If the assumption is correct, the price will grow to the levels of 131.00–140.00. In this scenario, critical stop loss level is 110.78.


Main scenario
Long positions will become relevant above the level of 110.78 with the targets at 131.00–140.00. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 110.78 will let the price go down to the levels of 104.50–88.99.

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