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Elliott Wave Analysis: AUDUSD Can Follow A Bearish Look

OANDA:AUDUSD   Australian Dollar / U.S. Dollar
Good Sunday traders! Hope you had a nice weekend, and a pleasant Sunday. Let's take a look at AUDUSD and its mid-term look.

AUDUSD may have recently completed a higher degree three-wave correction within wave IV. Recent drop that followed, away from the 0.8150 region can be an early indication of a change in trend and more weakness to follow. If so, then current weakness can be sub-wave 1) of a bigger five-wave drop , which may unfold in weeks to follow. That said, a decisive breach below the 0.7700 region would suggest even more weakness to come.

Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
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Comments

Symmetrical triangle pattern here. Very bullish pattern.
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ew-forecast No_structure
@No_structure, AUDUSD has 5 waves down from September highs, and is not bullish anymore.
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love your charts its just funny because short term we could rally or fail a couple hundred pips and still be bearish
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