AUD/USD Long-Term Elliott Wave Outlook
In this analysis, I have applied the Elliott Wave Theory to the AUD/USD daily chart to project the potential long-term movement of the pair.
Current Structure:
The pair has completed a clear five-wave impulsive decline from the peak in 2021 (marked as 1-2-3-4-5 in blue), followed by an ABC corrective wave, which seems to have completed its final leg in early 2023.
Formation of WXY Pattern:
After the initial ABC correction, the market has entered a complex corrective phase. We are now observing the formation of a WXY pattern, with Wave W already completed in mid-2023.
The pair is currently in Wave X, which could extend towards the 0.70 - 0.75 region, followed by a decline in Wave Y, potentially targeting the 0.60 area.
Outlook for 2024-2026:
My projections suggest that the market could rise to complete Wave X by 2025.
Following this, a significant decline in Wave Y could occur, pushing AUD/USD towards new lows around 0.60 by 2026.
This scenario aligns with the broader macroeconomic outlook, where a strong USD and a weaker AUD are expected over the long term.
Current Structure:
The pair has completed a clear five-wave impulsive decline from the peak in 2021 (marked as 1-2-3-4-5 in blue), followed by an ABC corrective wave, which seems to have completed its final leg in early 2023.
Formation of WXY Pattern:
After the initial ABC correction, the market has entered a complex corrective phase. We are now observing the formation of a WXY pattern, with Wave W already completed in mid-2023.
The pair is currently in Wave X, which could extend towards the 0.70 - 0.75 region, followed by a decline in Wave Y, potentially targeting the 0.60 area.
Outlook for 2024-2026:
My projections suggest that the market could rise to complete Wave X by 2025.
Following this, a significant decline in Wave Y could occur, pushing AUD/USD towards new lows around 0.60 by 2026.
This scenario aligns with the broader macroeconomic outlook, where a strong USD and a weaker AUD are expected over the long term.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.