The EUR/AUD wave pattern is suggesting that price will most likely make a bearish bounce at the resistance (red) and Fibonacci targets, which would complete a wave C (purple) of wave B (pink). The confirmation of a bearish reversal occurs when price breaks below the support trend line (blue) of the bullish channel.

The EUR/AUD is building impulsive price action on the 4 hour chart where price seems to be completing a 5 wave (green/blue) pattern. Price is completing a potential wave C (purple) once these 5 wave patterns are ready. At the moment price seems to breaking above a smaller resistance trend line (dotted red), which could spark a new 5 wave (green) pattern in the 5th wave (blue).

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The Wave Analysis it for today the most flexible, powerful and perspective tool which allows to predict tendencies which lead to certain changes on financial charts on all time pieces. One of properties of this tool is its insufficient formalisation, proceeding from it the opinion of the author of the forecast made on the basis of the Wave Analysis always is subjective. As the Wave Structure constantly varies, the forecast on the basis of the Wave Analysis reflects opinion of the author at the moment of the forecast publication. The Wave Analysis is not trading system. It not the generator of signals on the conclusion or an exit 1from the transaction, therefore the schematical direction of movement of the price put on the chart should not be for the trader the guide to action on opening of positions. In case of formation in the market of conditions which, according to the author it is possible to use for drawing up of the trading plan - on a chart levels of acknowledgement of the chosen scenario, optimum areas of an input and levels of cancellation of the chosen scenario will be specified in addition.

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