New York time: 00:00:00
Local time: 00:00:00
Newsletter RSS 

Aud/Usd: Coming Weakness


Video tour of our product offerings          Twitter          Facebook          Subscribe to our newsletter

Jan 20 2011

Aud/Usd reversed very nicely from the 1.0070 resistance region, exactly after the market tested 61.8% Fibonacci retracement area. Upward bounce from 0.9802 was clearly made in three wave formation, and current sharp 140 pips of decline suggests that top of a black wave 2/B is in.

As such, traders should now focus on more bears ahead, towards and below 0.9800 region, since we are expecting an impulsive decline down into a wave 3/C leg. Once 0.9802 region is out, losses may easily accelerate down to 0.9640 region, where a distance of wave 3/C equals to wave 1/A .

Wave count and expectations remains valid as long as the market trades below 1.0070.

The main driver of Aud/Usd weakness from 1.0070 region are lower commodity prices and sell-off seen yesterday on the US stock market. On the chart below you can see a very tight correlation between the S&P futures and Aud/Usd, since the market reversed from the recent highs.

After the yesterday’s weakness on the stock market, further decline in the near-term will likely follow, a move that should drive the Aud/Usd even lower!

Check our services for 45€ per month or 110€ per three months! Learn more

<< [1-7][8-14][15-21][22-28][29-35][36-42][43-49][50-56][57-63][64-70][71-77][78-84][85-91][92-98][99-105][106-112][113-119][120-126][127-133][134-140][141-147][148-154][155-161][162-168][169-175][176-182][183-189][190-196][197-203][204-210][211-217][218-224][225-231][232-238][239-245][246-252][253-259][260-266][267-273][274-280][281-287][288-294][295-301][302-308][309-315][316-322][323-329][330-336][337-343][344-350][351-357][358-364][365-371][372-378][379-385][386-392][393-399][400-406][407-413][414-420][421-427][428-434][435-441][442-448][449-455][456-462][463-469][470-476][477-483][484-490][491-497][498-504][505-511][512-518][519-525][526-532][533-539][540-546][547-553][554-560][561-567][568-574][575-581][582-588][589-589]