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AUD/USD: wave analysis 12 June 2017, 09:11


Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 0.7526
Take Profit 0.7740, 0.7850
Stop Loss 0.7454
Key Levels 0.7260, 0.7370, 0.7740, 0.7850
Alternative scenario
Recommendation SELL STOP
Entry Point 0.7360
Take Profit 0.7260
Stop Loss 0.7420
Key Levels 0.7260, 0.7370, 0.7740, 0.7850

The trend is upward.
The third wave iii of the highest level 3 is likely to continue forming. and within it the development of wave (iii) of the lowest level has started. Locally an upward impulse seems to have been formed as the first wave i of (iii). If the suggestion is correct, after the end of correction of ii of (iii) one may expect the pair to continue growing to the levels of 0.7740-0.7850. A critical level for this scenario will be 0.7370.


Trading tips
The pair may be bought from corrections above the level of 0.7370 with targets 0.7740-0.7850.
Alternative scenario
Breaking through the level of 0.7370 and consolidation below it will allow the pair to continue reduction to the level 0.7260.
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