Elliott wave Analysis: AUDUSD In A Temporary Correction
Hello traders,
AUDUSD has been trading bearish in 2018; it unfolded a five-wave impulsive movement which is now being retraced. We are tracking a three-wave pullback which can be headed up into 0.739/0.745 region (area of former swing highs) before bulls may slow down. So at the moment we see room for more upside, but after red wave B) is finished; ideally near 0.700/0.694 area.
AUDUSD has been trading bearish in 2018; it unfolded a five-wave impulsive movement which is now being retraced. We are tracking a three-wave pullback which can be headed up into 0.739/0.745 region (area of former swing highs) before bulls may slow down. So at the moment we see room for more upside, but after red wave B) is finished; ideally near 0.700/0.694 area.
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