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Tuesday, December 22, 2009

AUD/USD - Wave iii target at 87.49 hit




On december 15. 2009 I wrote that wave iii was about to gain momentum for a decline to target 87.49. Today we saw a exact test of this 87.49-target followed by positive divergence on the RSI calling for a correction soon. This correction should reache the top of wave four of a lesser degree, which comes in at 89.30.
The 38.2 Fibonacci correction target comes in at 89.19, so we can expect the wave iv correction to reach the target-zone from 89.19-89.30 from where wave v down to 86.51 should be seen.

2 comments:

  1. Just came to wish you a wonderfull Cristimas and a Happy New Year.
    Pleasure to learn from you.

    Fred.

    ReplyDelete
  2. Hi Fred.

    Thank you!

    A Wonderfull Christmas to you too.

    I will be back between Christmas and New Year.

    See you then

    ReplyDelete