AUDUSD
W1 - The price reached level 161 after breaking through the trend line. which could lead to the start of a correction or a continuation of the downward movement to new lows.
D1 - The price can form a 3-wave structure and, upon breaking through the minimum of the 1st wave, continue moving to the levels of 0.62592.
What can you expect?
You can consider entering from the level of ~0.65260 with further movement to the target 0.62592. Cancellation of the idea so as not to take increased risk on the idea levels beyond the end of the 2nd wave - 0.66261 or 1st wave - 0.66953. Cancellation of the structure, can also be the formation of an ABC formation.
Short
Target 0.6932 - 0.64250 - 0.63629 - 0.62592
W1 - The price reached level 161 after breaking through the trend line. which could lead to the start of a correction or a continuation of the downward movement to new lows.
D1 - The price can form a 3-wave structure and, upon breaking through the minimum of the 1st wave, continue moving to the levels of 0.62592.
What can you expect?
You can consider entering from the level of ~0.65260 with further movement to the target 0.62592. Cancellation of the idea so as not to take increased risk on the idea levels beyond the end of the 2nd wave - 0.66261 or 1st wave - 0.66953. Cancellation of the structure, can also be the formation of an ABC formation.
Short
Target 0.6932 - 0.64250 - 0.63629 - 0.62592