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Technical Analysis
Elliott Wave Analysis by EWF
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[QUOTE="Elliottwave-Forecast, post: 124212, member: 40858"] [FONT=Roboto][COLOR=rgb(44, 44, 44)][SIZE=6][B]AUDUSD Elliott Wave View : 5 waves move[/B][/SIZE] AUDUSD ended the correction in Intermediate wave (X) after reaching 0.7486 and then started rallying from there. With today’s new high the pair is showing 5 waves impulsive move from 03/09/2017 low and has already reached the minimum target area for Minutte wave (v) to end. The minimum target for Minutte wave (v) can be calculated as the inverse 1.236-1.618 Fibonacci extension of Minutte wave (iv) which comes at 0.7734 – .07753. Short term, an extension higher can’t be ruled out as there are still 2 other methods for calculating the 5th wave and one method of calculating (v) = (i) gives us a higher target around the equal legs area at 0.7765 – 0.7790. However, we need to be aware that cycle from 3/9 low (0.7486) is mature and pair can complete Minute wave ((a)) any moment and then start Minute wave ((b)) pullback in 3 , 7 or 11 swing to correct cycle from 3/9 low. After ending at least 3 waves pullback in Minute wave ((b)), we expect AUDUSD to find buyers for the next leg higher as it has a bullish sequence from December 2016 low due to breaking above 02/23/2017 high (0.7740). [SIZE=3][B]AUDUSD 1 H Chart[/B] [B][/B][/SIZE] [URL='https://elliottwave-forecast.com/wp-content/uploads/2017/03/11AUDUSD-6020170318142037.jpg'][COLOR=rgb(170, 170, 170)][IMG]https://elliottwave-forecast.com/wp-content/uploads/2017/03/11AUDUSD-6020170318142037-1024x517.jpg[/IMG][/COLOR][/URL][/COLOR] [COLOR=rgb(44, 44, 44)][/COLOR][/FONT] [/QUOTE]
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