Translate
Monday, February 22, 2010
AUD/USD - Room for a move closer to 90.92 before the next move lower
The bigger picture tells us, that wave [B] finished at 94.04 and wave [C] down is ongoing. Wave [C] should ultimatly end below wave [A], which ended at 60.04.
I have shown my prefered count, which as can be seen, shows that we have seen a couple of waves one's and two's. Wave 2 should be very close to its top, if we haven't already seen it. The ideal target for this wave 2 is in the area from 90.41 to 90.92.
The above chart shows the hourly chart. Again we should ideally see one more new high reaching the area between 90.41 to 90.92, but a top could already have been seen with the 90.37 high set on the 17 of Febuary.
When wave two finish we should see a shape decline in wave 3 of [3] down.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment