Wednesday, March 29, 2023

EUR/AUD In A Bearish Trend


is in a five-wave bearish cycle, down from March of 2019. At the moment we are tracking a sub-wave 5 of A/1, which can take price towards the 1.61/1.57 region in weeks or months ahead. That said, once a five-wave cycle fully develops, a temporary A-B-C correction may start to form. In our case the upcoming A-B-C move can take price towards the 1.69/1.74 region,

euraud, daily chart
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