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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

AUD/USD: wave analysis 08 November 2019, 08:39


Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 0.6880
Take Profit 0.7080, 0.7202
Stop Loss 0.6800
Key Levels 0.6400, 0.6600, 0.6669, 0.7080, 0.7202
Alternative scenario
Recommendation SELL STOP
Entry Point 0.6660
Take Profit 0.6600, 0.6400
Stop Loss 0.6690
Key Levels 0.6400, 0.6600, 0.6669, 0.7080, 0.7202
The pair may grow.
On the daily chart, the fifth wave of the higher level 5 of (5) formed, within which the wave v of 5 ended. Now, the development of the first wave 1 of (А) has started, within which the first wave of the lower level i of 1 has formed, and a local correction is developing as the wave ii of 1. If the assumption is correct, after the end of the correction, the pair will grow to the levels of 0.7080–0.7202. In this scenario, critical stop loss level is 0.6669.


Main scenario
Long positions will become relevant after the end of the correction, above the level of 0.6669 with the targets at 0.7080–0.7202. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 0.6669 will let the pair go down to the levels of 0.6600–0.6400.

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