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Thursday, March 4, 2010
AUD/USD - Has sub-wave ii finally ended?
Sub-wave ii became more complex than I anticipated. The little new spike above 90.68 to 90.85 yesterday reminded me of something we saw i this cross not far ago. In late November early December we saw the same thing. I have boxed the two incidence in red.
They are not fractals, but the uniformity is quiet big.
If sub-wave ii has inded topped we should see the strong sub-wave iii take us below support at 89.32 and important support at 88.00 very soon. I would expect sub-wave iii to take us down to at least the 78.65 area.
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