(Click on the pictures to enlarge)Odds favor that wave ii in both EUR/USD & AUD/USD is finished and the powerfull wave iii downmove has begun.
As mentioned earlier today wave ii in EUR/USD was a irregular, while it became a double Zig-Zag in AUD/USD. We are currently seeing the early stages of wave iii in both crosses.
This leaves us with some very nice low-risk trades in both crosses, but also in GBP/USD; NZD/USD and USD/CHF too (USD/CHF would not be my prefered cross thus)
For now lets just focus on EUR/USD and AUD/USD.
This is what I am going to do:
In EUR/USD: Sell EUR and buy USD with a stop at 143.85 or strategic stop at 144.55 for a move down to 138.25 area.
In AUD/USD: Sell AUD and buy USD with a stop at 84.05 or strategic stop at 84.85 for a move down close to 77.
Waiver: I does not accpet responsibility for any investments made on the basis on the above analysis.
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