Tuesday, 9 June 2020

AUDUSD to top & reverse?

Hi Traders,

The AUDUSD (now at 0.7038) entered the target area 0.700-0.756 (see monthly, weekly and daily charts). It might top soon and temporarily reverse to the area 0.67-0.65.

ELLIOTT WAVES

The monthly, weekly and daily charts show the upper target area at 0.700-0.756.

The 4-hours chart reveals that the whole set of main waves and sub-waves is practically complete.

Note the last channel in the 4-hours chart and in the 1-hour chart: The show 4 or more contact points, meaning that a reverse is imminent.

However, be aware that the AUDUSD might attempt one last flicker to 0.71  before reversing to the area 0.67-0.65.


Monthly chart. Click to enlarge




Weekly chart. Click to enlarge




Daily chart. Click to enlarge




4-hours chart. Click to enlarge




1-hour chart. Click to enlarge



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