Chinese EspaƱol Fri, 16 May 2008
head-search-back
News Calendar Charts Currency Rooms Forum DailyFX Plus Sign In

advertisement

Australian Dollar Technical Outlook

Wednesday, 30 April 2008 13:35:19 GMT

Written by Jamie Saettele, Currency Analyst

The decline from .9541 is in 5 waves and is wave 1 (or A) in a 5 (or 3) wave bear cycle.  The rally to .9403 (near the former 4th wave extreme) was in 3 waves and corrective.  Making the case even stronger that a top is in at .9541 and that .9403 will even remain intact is the structure of the decline from .9403. 

It too is in 5 waves and is wave i of 3 (or C).  The decline should accelerate today (as long as price is below .9403).  Risk can be moved to .9403

< Prev    Next > [ Back ]