SOLID ECN LLC
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Elliot Wave Analysis by Solid ECN
AUDUSD is in a correction, a fall is possible
On the daily chart, the first wave of the higher level (1) of C developed, and a downward correction forms as the wave (2) of C, within which the wave C of (2) develops. Now, the first wave of the lower level i of C formed, and a local correction is ending to develop as the wave ii of C, within which the formation of the wave (c) of ii is ending.
If the assumption is correct, after the end of the correction, the pair will fall to the levels of 0.6742–0.6446. In this scenario, critical stop loss level is 0.7563.