Analysis of the AUD/USD Elliott Wave on the daily chart provides insight into the potential price movements of the AUD/USD pair. The dollar currency pair is based on Elliott Wave principles within technical analysis.
The analysis, identified as a “trend” scenario, indicates that the current market trend is in line with the broader trend, indicating the potential for a continuation of the prevailing price movement.
The analysis, described as “impulsive,” indicates that the current price action is showing a strong and directional movement, indicating significant momentum in the market.
The “structure” is called “Red Wave 3,” which means that the market is currently within the third wave of the larger Elliott Wave cycle. This indicates that the current price action is part of a strong and sustainable uptrend in the market.
The analysis, marked “Blue Wave 1,” indicates that the current wave number is within a higher degree Elliott Wave cycle, providing insight into potential price targets and trend continuation levels.
The “next lower degree trend” is defined as “red wave 4”, which indicates the expected direction of the subsequent lower degree wave. This means that after the current wave is completed, the market may face a corrective phase before resuming its upward movement.
In the "Details" section, it is stated that "Red wave 2 appears completed at 0.64780. Now sub-waves of red wave 3 of 1 are starting to appear." This indicates that the corrective phase has likely ended, and that the market is now ready to continue its upward movement within the current wave.
The “Invalid Wave Cancellation Level” is set to 0.65031, which acts as a critical threshold. A breach of this level would invalidate the current wave count, necessitating a re-evaluation of the analysis.
In short, analyzing the AUD/USD Elliott Wave on a daily chart provides traders with valuable insights into potential price movements, trend continuation phases and critical levels to spot trading opportunities.
Black wave 2 appears completed at 0.65031. Now Black Wave 3 of 3 is on. Invalid wave cancellation level: 0.65031
AUD/USD Elliott Wave analysis on 4-hour chart provides a comprehensive look at potential price movements for the AUD/USD. The dollar currency pair relies on Elliott Wave principles within technical analysis.
The analysis, identified as a “trend” scenario, indicates that the prevailing trend in the market is in line with the broader trend, indicating the potential for a continuation of the current price action.
The analysis, described as “impulsive,” indicates that the current price action is characterized by a strong and directional movement, indicating significant momentum in the market.
The “structure” is called “Black Wave 3,” which indicates that the market is currently in the third wave of the larger Elliott Wave cycle. This indicates that the current price action is part of a strong and sustainable trend in the market.
The analysis, positioned as 'Red Wave 3', indicates that the current wave count is within a lower degree Elliott wave cycle, providing insight into potential price targets and trend continuation levels.
The “next lower degree trend” is defined as “black wave 4”, which indicates the expected direction of the subsequent lower degree wave. This means that once the current wave is completed, the market may face a corrective phase before it resumes its upward movement.
In the "Details" section, it is stated that "Black wave 2 appears completed at 0.65031. Now black wave 3 of 3 has started to play." This indicates that the corrective phase is likely over, and that the market is now ready to continue its movement in the direction of the broader trend.
The “invalid wave cancellation level” is set as 0.65031, which serves as a critical threshold. A breach of this level would invalidate the current wave count, necessitating a re-evaluation of the analysis.
In short, AUD/USD Elliott Wave analysis on the 4-hour chart provides traders with valuable insights into potential price movements, trend continuation phases and critical levels to monitor trading opportunities.