Analyzing AUD/USD on the 30-minute chart using Elliott Wave Theory, I observed that wave (3) marked the end of the recent upward move. Following this, wave (4) is expected to initiate a downward correction. The potential target for wave (4) is:
- 0.66349, which corresponds to the 0.382 retracement level of wave (3)
This setup suggests a short position on AUD/USD, targeting this level as a potential take-profit point.
- 0.66349, which corresponds to the 0.382 retracement level of wave (3)
This setup suggests a short position on AUD/USD, targeting this level as a potential take-profit point.
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