Wave picture of the chart H4:
The vector to the short-term major Aussie trends is set by the downward wave of January 26. In a larger model, it takes the place of the final part (C), so the nature of the motion is close to the momentum.
The wave pattern of the graph H1:
The wave pattern of this scale since May 9 shows a site that completes a hidden bull correction. Since the beginning of this month, the trend has changed to bearish. The final part (C) of the main trend wave began to form.
The wave pattern of the M15 chart:
In the unfinished wave of June 6, the whole past week, the price worked out an upward correction (B). The shelf of its completion will continue to decline.
Recommended trading strategy:
Sales can be recommended to supporters of intra-day and inter-day trading. On larger TFs, you must wait for the current bearish wave to end.
Resistance zones:
- 0.7470 / 0.7520
Support zones:
- 0.7250 / 0.7200
Explanations to the figures: In a simplified wave analysis, waves consisting of 3 parts (A-B-C) are used. For analysis, 3 main TFs are used, on each one the last, incomplete wave is analyzed. Zones show the calculated areas with the greatest probability of a turn.
Arrows indicate the wave counting according to the technique used by the author. The solid background shows the generated structure, the dotted - the expected movements.
Attention: The wave algorithm does not take into account the duration of the tool movements in time. To conduct a trade transaction, you need confirmation signals from your trading systems!