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AUD/USD: wave analysis 27.07.2018
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NPBFX offers the latest release of analytics on the AUD/USD for a better understanding of the current market situation and more efficient trading.
The pair can grow.
On the 4-hour chart, the downward trend has formed as a first wave 1 of (5) of the higher level, and the development of the upward correction 2 of (5) has begun. Now the wave w of 2 is developing as a flat (a)(b)(c), within which the wave (c) of w is forming. If the assumption is correct, the pair will grow to the level of 0.7540. The level of 0.7318 is critical and stop loss for this scenario.
Long positions will become relevant during the correction, above the level of 0.7318 with the target at 0.7540. Implementation period: 7 days and more.
The breakdown and the consolidation of the price below the level of 0.7318 will let the pair go down to the level of 0.7250.
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