Tuesday 1 April 2014

AUDUSD, resuming downtrend

Hi Traders,

The AUDUSD (now at 0.9239) performed a double top (see 1-hour chart below) and resumed the downtrend to 0.8419-0.8303 and lower (see monthly chart).


likely: 0.8672
possibly: 0.8578-0.8509
maybe: 0.8419-0.8303


After point "d", the AUDUSD is staging a very long "wave e" (weekly chart) that could potentially take the Aussie to 0.81 in 5 waves. Four of these waves now seem to be completed (weekly chart).

At present we're staging the beginning of wave 5 - see 1-hour chart


Enter your trade only when you have a valid cross of the 2 inner lines in the daily.

Remember to place your "trailing stop" according to the "instructions" from the wave oscillator.

monthly chart - click to enlarge

weekly chart - click to enlarge

daily chart - click to enlarge

wave oscillator over the daily chart - click to enlarge

4-hour chart - click to enlarge

1-hour chart - click to enlarge