AUDUSD - Birds Eye View - Wave Revision - Bull Edition
This analysis is based on deeper US Dollar long term wave analysis. I will be updating all Birds Eye View Charts shortly.
Yes I am bullish US Dollar on a long term basis but first we must see it bottom which is what all my fiat currency analysis will now be based upon.
Trend Analysis: Firstly you must understand there are only 2 waves in a correction that are 5 wave structures and those are Waves C and E.
Wave C is sharper and Wave E is choppy and sluggish. These are signs that what we have just seen is the end of the E Wave in the AUDUSD.
If you would like to see the full Wave C in AUDUSD look up FXTOP. The data goes further back.
Confirmation: A break of 0.70409 being the end of Wave iv is already confirmation but we will likely see a break of 0.81407 as further proof of a bottom followed by a correction for Blue Wave 2 and to show symmetry.
Currently: We are trading in the strongest past of Blue Wave 1, see related idea below.
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Yes I am bullish US Dollar on a long term basis but first we must see it bottom which is what all my fiat currency analysis will now be based upon.
Trend Analysis: Firstly you must understand there are only 2 waves in a correction that are 5 wave structures and those are Waves C and E.
Wave C is sharper and Wave E is choppy and sluggish. These are signs that what we have just seen is the end of the E Wave in the AUDUSD.
If you would like to see the full Wave C in AUDUSD look up FXTOP. The data goes further back.
Confirmation: A break of 0.70409 being the end of Wave iv is already confirmation but we will likely see a break of 0.81407 as further proof of a bottom followed by a correction for Blue Wave 2 and to show symmetry.
Currently: We are trading in the strongest past of Blue Wave 1, see related idea below.
Please LIKE and FOLLOW to get notification of updates and future posts.
