Tuesday, July 24, 2012

Aud/Usd : The aussie bear is back

Aud/Usd has finished a complex double three, which can be counted as a wave X inside a bigger wave Y. This means that wave Y of Y has most probably started now. An alternative count is a big triangle, where price is now in wave C of a bearish triangle, where the 3 waves down from the +/- 1.10 high is wave A and the triangle is wave B. In this case wave C can go higher. Taking a look at the equities, i believe they're starting a huge decline aswell, which would favor the bearish aud/usd count.

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