End of the downtrend. AUD/USD wave analysis

Analysis for December 22^nd, 2014

In our previous reviews, “It’s about time to reverse. Wave analysis of AUD/USD for 13.12.2014”, we discussed a possible scenario how the price may complete a descending correction (4).





Possibly, the final wave v of (v) of impulse (v) of [v] of C of (4) is taking the form of ending diagonal triangle and may be completed quite soon.

In addition to that, the first wave of impulse (v) of [v] of C of (4), i of (v), is a leading diagonal triangle,  and the third wave, iii of (v), is shorter than the first one, i of (v). If this assumption is confirmed, it means that the critical level here is at 0.8045, which mustn’t be broken until the market finishes the downtrend.



Our mid-term expectations haven’t changed so far – according to the main scenario the market is expected to complete a descending correction (4) and start the final ascending zigzagA-B-C of (5), unless the price chooses one of alternative scenarios.

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