AUD/NZD - Should we expect a different outcome this time?
Please take a close to at the chart above. It shows the bottom-formation that played out in USD/JPY from 2010 to late 2012 (the black line), before USD/JPY took off for a more than 50% gain.
The red line, shows the current price-action in AUD/NZD. Do you see the similarity? If you do, then should we expect a different outcome this time around?
I would not bet on a different outcome.
I also don't say they have to be identical, but I think it would be a rather safe bet to place on them be close to similar.
When AUD/NZD starts to pick-up speed as I expect it will, It will be almost impossible to enter without a large risk. Just look what happened in USD/JPY, when it started to pick-up speed. From late September 2012 to May 2013, there was almost no corrections. This is why you want to be in wave 3, when it takes off.
As Robert Prechter says it. "Wave 3 is a wonder to behold!"
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