Article By RoboForex.com
In our previous review, “A possible alternative. Wave analysis of AUD/USD for 29.10.2014”, we discussed an alternative scenario how the price may start forming an ascending zigzag (5). However, this alternative scenario hasn’t been confirmed.
The price continued falling inside the final descending wave (v) of [v] of C of (4).
The current wave structure on the H4 chart implies that the pair has already finished a descending impulse [v] of C of (4). However, this assumption hasn’t been confirmed and right now the pair is moving inside the “bifurcation” area (between conforming and critical levels) and at any moment may either cross the upper confirming level, or change the end of wave (v) of [v] of C of (4).
However, at the same time one should remember that any possible scenario is subjective and the market may move in a completely different direction.
RoboForex Analytical Department
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.