14 Apr

AUDUSD Intermediate Impulse Wave (3) Nears Completion

April 14, 2022

By Orbex

AUDUSD

AUDUSD suggests the formation of a large impulse of a cycle degree that consists of primary sub-waves ①-②-③-④-⑤. The current chart shows the internal structure of the final wave ⑤.

Most likely, wave ⑤ will take the form of an intermediate impulse (1)-(2)-(3)-(4)-(5), as shown on the chart. At the moment, sub-waves (1) and (2) have ended. Now a bullish impulse wave (3) is developing.

Apparently, wave (3) has not yet completed its impulse. In the near future, there could be a continuation of price growth in the minor sub-wave 5.

The next price target is 0.769, at which sub-wave (3) will be at 61.8% of sub-wave (1).

Free Reports:

Download Our Metatrader 4 Indicators – Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter





Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.




AUDUSD

Alternatively, the primary wave ⑤ does not take the form of an impulse, but of an ending diagonal.

Therefore, the formation of the intermediate wave (3) is already fully complete. This is a minor simple zigzag A-B-C.

Thus, a correction wave (4) of the intermediate degree is currently under construction. It is likely that wave (4) will end at 0.727, forming a bearish zigzag A-B-C.

The probability of reaching this level is high since at that level, wave (4) will be at 76.4% along the Fibonacci lines of wave (3).

Orbex-LogoArticle by Orbex

Orbex is a fully licensed broker that was established in 2011. Founded with a mission to serve its traders responsibly and provides traders with access to the world’s largest and most liquid financial markets. www.orbex.com


investmacro stock market newsletter




Financial News Forex and Currency News