AUD/USD – Decline to 85.60 area in progress

May 16, 2010

My preferred wave count still is, that wave 5 of [B] became a truncated 5, as it didn’t exceed the top of wave 3. If my count is correct we a only in the very beginning of wave [C] down, which should ultimately break below the end of wave [A] at 60.08.

In the short term we need a break below 85.76 to confirm the wave 5 of [B] became truncated. We will most likely see a move to just above or just below 85.76 before a wave 2 correction higher towards 89.76 and maybe 90.73 sets in.

Related Articles

Comments on this entry are closed.

Previous post:

Next post: