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    AUD/USD: wave analysis on 26.01.2016

    Pair in correction. A downward trend remains.

    Assumingly, the fifth wave of the senior level continues forming, within which a diagonal seems to be developing as waves (i) and (iii) have three-wave structures. Locally, an upward correction within the fourth wave is forming that is meant to reach the level of 0.7100 due to characteristics of a diagonal. If the assumption is correct, the pair continues falling towards 0.6755 after correction ends. Critical for this scenario is the level of 0.7329.


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