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Thursday, December 31, 2009

AUD/USD - Wave iv is still ongoing, but close to its top!



Looking at the structure again it was pretty clear, that one more rally in wave c of iv was needed. We are now in the very final stages of this wave iv rally. Ideally we should see one more new high just above 90.08, but at no time can we go above 90.50 or my count will be wrong.

Therefore if you haven't sold AUD yet, you are being provided with a very nice oppotunity once again. Sell on a new high above 90.08 with a stop just above 90.50 or sell on a break below 89.48 still with a stop just above 90.50 for a low risk trade.

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