AUDUSD - BUY IDEA

I'm currently evaluating a potential long opportunity for AUD/USD using Elliott Wave principles. According to my analysis, we're witnessing the end of a corrective phase, with a bullish impulse wave likely to take shape soon.

The market is now entering what seems to be the beginning of an impulse wave, labeled as (5) in our analysis. The completion of the previous correction and the start of this new bullish wave suggest an excellent entry point for a long position.

For those considering entering the market, the start of wave (5) could be a solid opportunity. It's crucial to monitor the development of this wave for any bullish patterns or confirmation signals that reinforce the move higher. We're setting our sights on initial targets near the 0.66615 level, with the potential to reach up to 0.67077 if the momentum remains strong.

Please ensure you manage your risks effectively and align any trades with your personal risk tolerance. I’ll keep you updated as the scenario progresses.

Order cancelled