Expecting the uptrend. AUD/USD wave analysis

Analysis for September 18^th, 2014

In our previous review, “Expecting an ascending correction. Wave analysis of AUD/USD for 10.09.2014”, we discussed a possible scenario how the price may complete a descending wave (v) of [a] and reverse upwards.

However, after an ascending correction of about 100 points, the price decided to form a descending extension inside wave (v) of [a], thus delaying the trend revers upwards.



Probably, right now the pair is finishing the final descending impulse (v) of [a] in the form of extension, which may be followed by the trend reverse upwards inside wave [b].



The chart structure implies that the market is about to complete a large descending wedge[a] of B (or maybe the whole descending correction B) and may soon start forming an ascending correction [b] of B.



Our mid-term expectations haven’t changed so far – the price is still forming a large descending zigzagB of (5), which may continue for several months. After forming a descending wedge[a] of B, the price is expected to start an ascending correction [b] of B.

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