Elliott Wave Analysis TradingLounge 4hr ChartADA/ U.S. dollar(ADAUSD)ADAUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: Flatposition: Wave BDirection Next higher Degrees:Wave Cancel invalid level:Details: Short-term: Price will continue to rise in Wave B with target at 1.320.ADA/ U.S. dollar(ADAUSD)The price will continue to adjust up in Wave B with the target at 1.320. After Wave B is complete, the price is expected to adjust down to Wave C with the target possibly in the 0.703 zone.Main Outlook:Short-term: Price will continue to rise to the target of 1.320Mid-term: Downward correction in Wave C may test the support level of 0.650Long-term: New uptrend will start when the corrective wave structure is complete.
Technical Analyst: Kittiampon SomboonsodSource: Tradinglounge.comMore By This Author:Unlocking ASX Trading Success – Coles Group Limited
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