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AUD/USD Carving Near Term Low?

AUD/USD Carving Near Term Low?

2013-08-28 23:37:00
Jamie Saettele, CMT, Sr. Technical Strategist
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4Hour

eliottWaves_aud-usd_body_audusd.png, AUD/USD Carving Near Term Low?

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Interested in automated trading with Mirror Trader?

FOREXAnalysis: The late day AUDUSD recovery (circled) and response at .8900 opens up the potential for additional range trading. From a pattern perspective, movements since the August low are corrective (3 waves up and 3 waves down) which raises the possibility of a triangle or flat.

FOREXTrading Strategy: Flat

LEVELS: .8847 .8891 .8931 .9026 .9058 .9110

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